Integrated Indian solar manufacturer: PV modules, cells, aluminium frames, EPC projects and power generation (IPP).
Price
Market Cap
Sector
Industrials
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 6 | 6 | 6 | 6 | 24 | 24 | 26 | 26 |
| Reserves | 29 | 31 | 32 | 35 | 106 | 192 | 447 | 536 |
| Borrowings | 20 | 30 | 27 | 47 | 49 | 79 | 174 | 537 |
| Other Liabilities | 23 | 32 | 36 | 37 | 50 | 178 | 288 | 286 |
| Total Liabilities | 78 | 99 | 100 | 126 | 230 | 474 | 936 | 1.4k |
| AssetsFixed Assets | 13 | 20 | 17 | 17 | 31 | 78 | 96 | 168 |
| CWIP | 7 | 1 | 2 | 4 | 0 | 23 | 81 | 175 |
| Investments | 5 | 4 | 4 | 3 | 2 | 2 | 2 | 1 |
| Other Assets | 53 | 75 | 77 | 100 | 197 | 371 | 756 | 1.0k |
| Total Assets | 78 | 99 | 100 | 126 | 230 | 474 | 936 | 1.4k |
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 7 | 2 | -1 | -7 | -5 | 69 | -116 |
| Cash from Investing | -1 | -8 | 6 | -9 | -17 | -82 | -437 |
| Cash from Financing | -6 | 7 | -6 | 17 | 46 | 16 | 553 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — |
| Free Cash Flow | 8 | -1 | -2 | -12 | -9 | 11 | -447 |
| FCF Margin | — | — | — | — | — | — | — |
The Earnings Per Share over the last 12 months.
Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).
Pre-filled with the lower of median (18.7×) and current (12.0×) PE — the conservative anchor.
The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.
At 139.8% growth and a 12× exit, ₹948 only delivers your return if you pay ₹51,681. The price is currently baking in 18% growth.
EPS grows 139.8%/yr for 5 years, then fades to 6% over 2, exits at 12×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 139.8% | 189.03 |
| FY28 | 139.8% | 453.30 |
| FY29 | 139.8% | 1087.02 |
| FY30 | 139.8% | 2606.68 |
| FY31 | 139.8% | 6250.83 |
| FY32 | 72.9% ·fade | 10807.68 |
| FY33 | 6.0% ·fade | 11456.14 |
Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.
Guides on how to read this kind of business and the numbers that matter.