Green Energy stock, an integrated solar energy solutions provider engaged in offering EPC and O&M services for power plants, solar systems, pumping systems, and many others jumped upto 7 percent in the day’s trade following expansion plans to increase its solar module manufacturing capacity.
Price Action
With a market capitalization of Rs. 1,386 Crores, the shares of Ganesh Green Bharat Limited were trading at Rs. 558 per equity share, up 6 percent from its previous day’s close price of Rs. 526.95.
What Happened
The board of directors of Ganesh Green Bharat Limited an integrated solar energy solutions provider specializing in solar PV Module manufacturing, Solar Systems, and Allied Services has announced plans to increase its manufacturing capacity from 750 MW to 1.1 GW by adding 350 MW Capacity.
It involves modernization and upgradation of machines and importing new machinery and equipment for manufacturing Solar PV modules at its present facility with an investment of ~Rs. 5.52 Crores which is going to be funded by a mix of Internal Accruals and Borrowings and the expansion is expected to be completed by March 25, 2025.
Recent Expansion
Ganesh Green Bharat Limited has announced that it has successfully commenced operations for the Commercial Production of the new Solar Module Line at its present factory located at Mahesana, Gujarat thereby adding 514MW of additional capacity to its earlier manufacturing capacity of 236 MW taking the total capacity to 750 MW.
About the Company
Ganesh Green Bharat Limited is an integrated solar energy solutions provider specializing in Solar PV Module manufacturing, Solar Systems and Allied Services, Electrical Contracting, and Water Supply Scheme Projects. It engaged in offering EPC and O&M services for power plants, solar systems, pumping systems, water supply systems, solar home lights, street lights, and high mast lighting.
Its segment-wise revenue mix consists of Solar PV Modules 53 percent, Electrical Contracting Services 30 percent, Solar System & Allied Services 11 percent, and Water Supply Scheme Projects 6 percent. It has a strong order book of Rs. 327.44 Crores.
Financials and Ratios
Its revenue from operations grew by 134 percent from Rs. 59 Crores in H1FY24 to Rs. 138 Crores in H1FY25, accompanied by profits of Rs. 7 Crores to Rs. 13 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 13.93 percent, and a Return on capital employed (ROCE) of 19.54 percent. It has reported a debt-to-equity ratio of 0.17
Written by: Bharath K.S
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