Sahaj Solar Ltd
Incorporated in 2010, Sahaj Solar Ltd manufactures solar energy based products and provides EPC services[1]
- Market Cap ₹ 552 Cr.
- Current Price ₹ 251
- High / Low ₹ 360 / 150
- Stock P/E 21.4
- Book Value ₹ 47.8
- Dividend Yield 0.20 %
- ROCE 31.6 %
- ROE 37.8 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 131% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 41.8%
Cons
- Company might be capitalizing the interest cost
- Company has high debtors of 233 days.
- Working capital days have increased from 37.4 days to 70.8 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 3 | 32 | 55 | 66 | 183 | 179 | 307 | |
| 3 | 29 | 52 | 62 | 173 | 157 | 268 | |
| Operating Profit | -0 | 2 | 3 | 4 | 11 | 22 | 39 |
| OPM % | -3% | 7% | 5% | 6% | 6% | 12% | 13% |
| 0 | 1 | -0 | 0 | 0 | 0 | 1 | |
| Interest | 0 | 1 | 1 | 2 | 2 | 4 | 4 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 0 | 1 | 1 | 1 | 8 | 18 | 35 |
| Tax % | 25% | 37% | 30% | 28% | 26% | 32% | 26% |
| 0 | 0 | 0 | 1 | 6 | 12 | 26 | |
| EPS in Rs | 0.60 | 0.38 | 0.44 | 0.98 | 3.70 | 7.61 | 11.73 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 57% |
| 5 Years: | 58% |
| 3 Years: | 67% |
| TTM: | 71% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 119% |
| 5 Years: | 131% |
| 3 Years: | 221% |
| TTM: | 110% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -28% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 42% |
| Last Year: | 38% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.26 | 5 | 5 | 5 | 8 | 8 | 11 |
| Reserves | 0 | 3 | 4 | 5 | 8 | 23 | 94 |
| 0 | 16 | 15 | 17 | 12 | 52 | 57 | |
| 2 | 13 | 8 | 34 | 60 | 60 | 136 | |
| Total Liabilities | 2 | 37 | 32 | 61 | 87 | 144 | 298 |
| 0 | 8 | 8 | 8 | 7 | 6 | 6 | |
| CWIP | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| 1 | 29 | 23 | 53 | 80 | 137 | 292 | |
| Total Assets | 2 | 37 | 32 | 61 | 87 | 144 | 298 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -0 | 3 | -2 | 9 | -32 | -52 | ||
| -1 | -1 | 0 | -1 | -1 | 0 | ||
| 1 | -2 | 1 | -7 | 42 | 50 | ||
| Net Cash Flow | 0 | -0 | -1 | 1 | 9 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 15 | 71 | 57 | 206 | 105 | 176 | 233 |
| Inventory Days | 13 | 258 | 69 | 74 | 22 | 36 | 29 |
| Days Payable | 181 | 167 | 52 | 211 | 124 | 114 | 178 |
| Cash Conversion Cycle | -152 | 162 | 73 | 69 | 3 | 98 | 85 |
| Working Capital Days | -134 | 69 | 25 | 40 | 16 | 25 | 71 |
| ROCE % | 8% | 11% | 36% | 39% | 32% |
Documents
Announcements
-
Updates
26 August 2025 - Sustainable Planet Green Energies Pvt Ltd requested on Aug 25, 2025 to reclassify from promoter group to public.
-
Awarding of order(s)/contract(s)
13 August 2025 - Rs. 57.34 Cr contract from MSEDCL for 2185 solar water pumps under PM KUSUM scheme.
-
Agreements
11 August 2025 - Sahaj Solar signs Rs. 62.8 Cr agreement with SK Solar for supply and installation services.
-
Change in Auditors
8 August 2025 - Sahaj Solar appoints new secretarial auditor for FY 2024-25 after prior auditor's resignation.
-
Outcome of Board Meeting
8 August 2025 - Resignation of old and appointment of new secretarial auditor for FY 2024-25.
Annual reports
No data available.
Concalls
-
Apr 2025Transcript PPT REC
-
Feb 2025TranscriptNotesPPT
-
Nov 2024TranscriptNotesPPT
Business Overview:[1]
SSL develops small to large Photovoltaic Solar pv power plant projects for its clients & investors. This includes carrying out the initial economic feasibility forecasts, finding a suitable location, securing title to the land (including obtaining all necessary permits) and taking care of all feed-in contracts or Power Purchase Agreements (PPA) with energy off-takers.