Gujarat-based solar PV module manufacturer and EPC contractor delivering solar, electrical-transmission, water-supply and battery-storage (BESS) projects.
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| Line item | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 1 | 1 | 18 | 25 | 25 | 25 |
| Reserves | 26 | 34 | 39 | 180 | 213 | 256 |
| Borrowings | 22 | 27 | 54 | 48 | 35 | 52 |
| Other Liabilities | 39 | 25 | 39 | 86 | 157 | 155 |
| Total Liabilities | 88 | 88 | 150 | 339 | 430 | 488 |
| AssetsFixed Assets | 2 | 2 | 21 | 48 | 47 | 54 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 87 | 86 | 129 | 290 | 383 | 433 |
| Total Assets | 88 | 88 | 150 | 339 | 430 | 488 |
| Line item | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ActivitiesCash from Operating | -8 | -2 | 25 | -29 | 21 |
| Cash from Investing | -2 | 0 | -34 | -48 | -26 |
| Cash from Financing | 10 | 3 | 10 | 107 | -1 |
| SummaryCapital Expenditure | — | — | — | — | — |
| Free Cash Flow | -10 | -3 | 17 | -62 | 6 |
| 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 (12.4×) and current (7.2×) 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 7× exit, ₹304 only delivers your return if you pay ₹206. The price is currently baking in 18% growth.
EPS grows 10%/yr for 5 years, then fades to 6% over 2, exits at 7×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 10.0% | 46.76 |
| FY28 | 10.0% | 51.44 |
| FY29 | 10.0% | 56.58 |
| FY30 | 10.0% | 62.24 |
| FY31 | 10.0% | 68.46 |
| FY32 | 8.0% ·fade | 73.94 |
| FY33 | 6.0% ·fade | 78.38 |
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.