Bengaluru-based pure-play integrated manufacturer of TOPCon solar PV modules and solar cells.
Price
Market Cap
Sector
Industrials
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 119 | 138 |
| Reserves | 159 | 168 | 170 | 130 | 158 | 526 | 838 | 3.6k |
| Borrowings | 570 | 603 | 482 | 524 | 1.4k | 2.1k | 2.1k | 360 |
| Other Liabilities | 134 | 93 | 178 | 173 | 558 | 1.3k | 1.4k | 1.7k |
| Total Liabilities | 873 | 874 | 842 | 838 | 2.2k | 3.9k | 4.4k | 5.8k |
| AssetsFixed Assets | 593 | 562 | 493 | 323 | 291 | 2.0k | 2.2k | 2.6k |
| CWIP | 1 | 6 | 14 | 93 | 646 | 13 | 156 | 10 |
| Investments | 1 | 1 | 1 | 0 | 0 | 257 | 150 | 57 |
| Other Assets | 279 | 305 | 334 | 421 | 1.2k | 1.6k | 2.0k | 3.1k |
| Total Assets | 873 | 874 | 842 | 838 | 2.2k | 3.9k | 4.4k | 5.8k |
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 (13.1×) and current (17.4×) 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 10% growth and a 13× exit, ₹331 only delivers your return if you pay ₹171. The price is currently baking in 24% growth.
EPS grows 10%/yr for 5 years, then fades to 6% over 2, exits at 13×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 10.0% | 20.88 |
| FY28 | 10.0% | 22.97 |
| FY29 | 10.0% | 25.26 |
| FY30 | 10.0% | 27.79 |
| FY31 | 10.0% | 30.57 |
| FY32 | 8.0% ·fade | 33.01 |
| FY33 | 6.0% ·fade | 34.99 |
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.