Sahaj Solar Ltd
Incorporated in 2010, Sahaj Solar Ltd manufactures solar energy based products and provides EPC services[1]
- Market Cap ₹ 601 Cr.
- Current Price ₹ 273
- High / Low ₹ 395 / 150
- Stock P/E 23.3
- Book Value ₹ 47.8
- Dividend Yield 0.18 %
- 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.
* 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: | % |
| 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 | 176 | 88 | 98 | 33 | 129 | 135 |
| ROCE % | 8% | 11% | 36% | 39% | 32% |
Documents
Announcements
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Analysts/Institutional Investor Meet/Con. Call Updates
28 May 2025 - Investor plant visit scheduled on June 2, 2025; no unpublished price sensitive info to be discussed.
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Updates
20 May 2025 - May 2025 newsletter: new subsidiaries, strong YoY growth, CSR initiatives, awards, and industry updates.
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Disclosure under SEBI Takeover Regulations
15 May 2025 - Pramit Brahmbhatt has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Analysts/Institutional Investor Meet/Con. Call Updates
29 April 2025 - Sahaj Solar reports FY25 revenue INR331Cr (+64%), PAT INR28Cr; expands capacity to 850MW by Oct 2025; order book INR304Cr.
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Analysts/Institutional Investor Meet/Con. Call Updates
25 April 2025 - Audio recording of earnings call for half year and year ended March 31, 2025 shared.
Annual reports
No data available.
Concalls
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Apr 2025Transcript PPT REC
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Feb 2025TranscriptNotesPPT
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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.