Throughout Friday’s buying and selling session, the shares of one in all India’s main photo voltaic panel producers and EPC service suppliers surged practically 0.5 % to hit an intraday excessive at Rs. 431 on NSE.
With a market cap of Rs. 1,051.4 crores, the shares of Ganesh Inexperienced Bharat Restricted closed within the purple at Rs. 423.95 on NSE, down by practically 1.2 %, as towards its earlier closing value of Rs. 428.75.
Capability Growth
The corporate plans to develop its capability from the present 236 MW to 750 MW by the tip of CY24. To help this growth, an order has been positioned for the required gear.
At present, the corporate produces between 2,500 and three,000 modules per day, producing a income potential of Rs. 50-60 crores month-to-month.
Order E book
As of H1 FY25, the corporate’s order ebook stood at Rs. 295 crores, a lower from Rs. 313 crores in July 2024. The present orders primarily encompass smaller orders valued round Rs. 3-5 crores every.
The administration anticipates a rise so as volumes beginning in November/December, according to seasonal authorities tendering cycles.
Moreover, the corporate has participated in a young valued at Rs. 2,400-2,500 crores, with the purpose of securing Rs. 500-650 crores in orders over the following two years.
Administration Steerage
The corporate’s EBITDA margin has diminished from 21 % to 16 %, primarily attributable to the next proportion of lower-margin photo voltaic module gross sales in comparison with EPC contracts.
Administration expects margins to stabilize between 16 % and 20 % because the share of EPC work will increase, with a median margin of 18-19 % anticipated by the tip of the yr.
The corporate is optimistic about reaching a turnover goal of Rs. 300-350 crores for FY25 and expects to double its revenues yearly.
Moreover, there are plans to discover growth into lithium battery manufacturing, leveraging previous expertise and authorities help for backup energy programs.
The long-term imaginative and prescient consists of reaching a turnover of Rs. 3,500-4,000 crores over the following 4-5 years, pushed by constant development in photo voltaic power and associated providers.
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Latest Orders
2nd January 2025: Ganesh Inexperienced Bharat secured an order price Rs. 13.93 crores from the Bihar Renewable Power Improvement Company (BREDA). The order entails the empanelment of executing companies to design, provide, set up, check, and fee a Sensible Photo voltaic Road Gentle System on present electrical poles throughout varied blocks in Bihar.
The venture additionally features a Complete Upkeep Contract (CMC) for 5 years, together with the set up of a Distant Monitoring Syst (RMS).
thirty first January 2025: The corporate obtained a piece order price Rs. 78.7 crores from a Gujarat-based firm Solberry Power Non-public Restricted for 50 MW for the availability of Photo voltaic PV Panel Module (590 Wp) in Gujarat.
Financials
Ganesh Inexperienced Bharat reported a big development within the income fr operations, experiencing an increase of practically 134.7 % YoY, rising from Rs. 58.7 crores in H1 FY24 to Rs. 137.8 crores in H1 FY25.
Equally, throughout the identical interval, the corporate’s web revenue elevated fr Rs. 6.8 crores to Rs. 13.3 crores, representing a development of round 95.6 % YoY.
EBITDA for H1 FY25 rose to Rs. 22.7 crores, reflecting a sturdy 78 perce YoY in comparison with Rs. 12.7 crores in H1 FY25, whereas the EBITDA margin decreased by 535 bps, from 21.6 % to 16.3 %, over the identical interval.
In regards to the Firm
Integrated in 2016, Ganesh Inexperienced Bharat Restricted focuses on Photo voltaic PV Module manufacturing, Photo voltaic Methods and Allied Companies, Electrical Contracting, and Water Provide Scheme Tasks.
Written by Shivani Singh
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