India's largest C&I renewable energy provider — solar, wind & hybrid power to corporates via long-term PPAs
Price
Market Cap
Sector
Utilities
Rank
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 4 | 4 | 4 | 5 | 10 | 12 |
| Reserves | 50 | 1.3k | 1.2k | 1.8k | 2.6k | 2.7k | 4.6k |
| Borrowings | 1.3k | 1.6k | 4.0k | 5.6k | 8.1k | 10.3k | 12.7k |
| Other Liabilities | 1.2k | 862 | 1.7k | 1.5k | 2.4k | 4.0k | 5.2k |
| Total Liabilities | 2.6k | 3.7k | 6.9k | 8.9k | 13.0k | 16.9k | 22.6k |
| AssetsFixed Assets | 2.0k | 2.1k | 2.9k | 6.6k | 8.1k | 9.6k | 12.0k |
| CWIP | 112 | 603 | 2.7k | 680 | 1.9k | 3.6k | 5.3k |
| Investments | 7 | 42 | 49 | 93 | 76 | 51 | 137 |
| Other Assets | 481 | 934 | 1.2k | 1.4k | 3.0k | 3.8k | 5.1k |
| Total Assets | 2.6k | 3.7k | 6.9k | 8.9k | 13.0k | 16.9k | 22.6k |
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 489 | 434 | 928 | 86 | 1.4k | 1.7k |
| Cash from Investing | -510 | -1.0k | -3.0k | -1.9k | -3.6k | -6.0k |
| Cash from Financing | 45 | 582 | 2.1k | 1.8k | 2.5k | 5.1k |
| SummaryCapital Expenditure | — | — | — | — | — | — |
| Free Cash Flow | 36 | -375 | -2.0k | -1.8k | -1.6k | -4.0k |
| FCF Margin | — | — | — | — | — | — |
For capital-heavy businesses (telecom, power, heavy manufacturing) reported profit ignores the cash needed just to stand still. We'd systematically overvalue it, so we don't show a number.
CLEANMAX · CAPITAL_INTENSIVE
Guides on how to read this kind of business and the numbers that matter.