Solar and battery-storage EPC/IPP player expanding into green hydrogen and e-fuels across India.
Price
Market Cap
Sector
Industrials
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 0 | 3 | 6 | 7 | 19 | 20 | 20 | 20 |
| Reserves | 1 | 2 | 9 | 25 | 127 | 489 | 616 | 743 |
| Borrowings | 4 | 17 | 28 | 71 | 184 | 271 | 316 | 509 |
| Other Liabilities | 7 | 22 | 32 | 42 | 80 | 583 | 743 | 1.3k |
| Total Liabilities | 13 | 43 | 75 | 144 | 410 | 1.4k | 1.7k | 2.6k |
| AssetsFixed Assets | 6 | 19 | 28 | 29 | 135 | 269 | 270 | 313 |
| CWIP | 0 | 0 | 0 | 46 | 52 | 50 | 59 | 146 |
| Investments | 0 | 0 | 3 | 6 | 11 | 11 | 11 | 16 |
| Other Assets | 7 | 24 | 45 | 63 | 212 | 1.0k | 1.4k | 2.1k |
| Total Assets | 13 | 43 | 75 | 144 | 410 | 1.4k | 1.7k | 2.6k |
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 2 | 1 | 9 | 16 | 2 | 290 | 337 |
| Cash from Investing | -6 | -14 | -16 | -41 | -117 | -522 | -506 |
| Cash from Financing | 4 | 15 | 7 | 27 | 135 | 270 | 185 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — |
| Free Cash Flow | -4 | -13 | -1 | -32 | -111 | 150 | 184 |
| 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 (12.3×) and current (8.5×) 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 8× exit, ₹1656 only delivers your return if you pay ₹1,081. The price is currently baking in 19% growth.
EPS grows 10%/yr for 5 years, then fades to 6% over 2, exits at 8×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 10.0% | 214.54 |
| FY28 | 10.0% | 236.00 |
| FY29 | 10.0% | 259.60 |
| FY30 | 10.0% | 285.56 |
| FY31 | 10.0% | 314.11 |
| FY32 | 8.0% ·fade | 339.24 |
| FY33 | 6.0% ·fade | 359.60 |
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.