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Ganesh Green share price & results

Ganesh Green· Capital Goods· Industrials

Results to
Mar 2026
Latest analysed call
Q4 FY26
Ownership as of
Sept 2026

Gujarat-based solar PV module manufacturer and EPC contractor delivering solar, electrical-transmission, water-supply and battery-storage (BESS) projects.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue725 ₹ crore+300.6% YoYQuarterly, as filedQuarter to Mar 2026Revenue from operations as filed.
Operating margin9.0 %−6.0 pts YoYOperating profit / revenueQuarter to Mar 2026For the quarter; a change is in percentage points.
Net profit42.0 ₹ crore+147.1% YoYQuarterly, as filedQuarter to Mar 2026Profit after tax as filed.
Return on equityUnavailable+8.0 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM · period unavailableNot in the analysed materials. No older figure is substituted.
Free cash flow margin0.52 %+20.0 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)Unavailable+147.5 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM · period unavailableNot in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Mar 2026

Guidance

What management said, and what became of it

4 of 6 judged targets kept · 7 open · verdicts reflect calls analysed to Q4 FY26.

Ganesh Green management guidance track record on Inve: 13 targets tracked across analysed earnings calls (4 achieved, 2 missed, 7 open).

TargetOriginal wordingSaidLatest callVerdict
Operational Capacityexpand our capacity to 1.1 gigawatt in August 2025
Call transcript, Q4 FY25 · 11 Jun 2025		Q4 FY25Q4 FY26:Promise was achieved ahead of schedule in Q2 FY26. No further updates.
Call transcript, Q4 FY26 · 29 May 2026		Achieved
Capacity Utilizationkeep it at 70% to 75% utilization
Call transcript, Q4 FY25 · 11 Jun 2025		Q4 FY25Q4 FY26:No specific utilization figure for FY26 was provided in the Q4 earnings call, despite the deadline being the end of FY26.
Call transcript, Q4 FY26 · 29 May 2026		Ghosted
BESS Revenuetargeting around INR500 to INR600 revenue next year from BESS
Call transcript, Q2 FY26 · 20 Nov 2025		Q2 FY26Q4 FY26:Company has secured a significant BESS order from NTPC REL and is participating in tenders worth INR 1500 crores. On track to meet or exceed the target for FY27.
Call transcript, Q4 FY26 · 29 May 2026		On Track

Source: Inve Guidance Tracker for Ganesh Green · to Q4 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

2 of Ganesh Green's 13 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 10 more targets are in the full ledger.

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Price

₹201.7 −1.47% · −₹3

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −49.9% 1Y

₹200₹250₹300₹350₹400₹450Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 20 Nov 2025Q4 FY26 — 29 May 2026

1Y: ₹402.2 on 24 Oct 2025 → ₹201.7. High ₹443.85 (13 Nov 2025), low ₹201.7 (27 Oct 2026).

Previous close
₹204.7
Market cap
₹508 Cr
52-week range
₹201.7 – ₹443.85
One year
−51.42%
Price to earnings (FY ending Mar 2026)
6.77×
Return on equity (FY ending Mar 2026)
30.86%

Overview

Symbol
NSE:GGBL
Industry
Industrials
Exchange
NSE
Currency
INR

What Ganesh Green does

Based on the company's own presentations, annual report and earnings calls.

Ganesh Green Bharat operates a fully automated, robotic solar PV module manufacturing plant in Mehsana, Gujarat, producing N-type TOPCon bifacial half-cut-cell modules. It also runs an EPC business covering ground-mounted, rooftop, agricultural-pumping and street-lighting solar systems, electrical infrastructure (overhead/underground transmission lines and substations) and water-supply scheme projects, executed as government tender-based turnkey contracts. It has recently entered the Battery Energy Storage System (BESS) EPC segment, providing end-to-end system design, integration and commissioning.

Segments

  • Solar PV Modules
  • Solar EPC & Allied Services
  • Electrical Infrastructure Services
  • Water Supply Scheme EPC
  • BESS EPC
Solar module manufacturing capacity
1.1 GW (plan to expand to 2 GW by end of 2027)
Manufacturing plant
1 fully automated, robotic solar PV module plant (Mehsana, Gujarat)
Geographic project presence
11 states (Gujarat, Maharashtra, Rajasthan, UP, MP, Jharkhand, Chhattisgarh, Bihar, Punjab, Himachal Pradesh, Karnataka)
Business verticals
5 (solar modules, solar EPC & allied services, electrical infrastructure, water supply EPC, BESS EPC)
Module formats offered
3 (132/144/156 half-cut-cell N-type TOPCon bifacial)
Quality/safety certifications
ISO 9001:2015, ISO 14001:2015, ISO 45001:2018; BIS-certified modules
Founded 2016Headquarters Ahmedabad, Gujarat, India Company website

How the price took the results

close before → close after

Q4 FY26
−1.7%
29 May
Q2 FY26
+0.0%
20 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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