Vertically integrating Indian solar-module manufacturer expanding into cells, transformers, storage and EPC.
Price
Market Cap
Sector
Industrials
Rank
| Line item | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 3 | 3 | 22 | 25 | 25 |
| Reserves | 17 | 117 | 315 | 1.2k | 1.3k |
| Borrowings | 153 | 280 | 503 | 628 | 939 |
| Other Liabilities | 90 | 288 | 795 | 966 | 814 |
| Total Liabilities | 263 | 688 | 1.6k | 2.8k | 3.1k |
| AssetsFixed Assets | 50 | 117 | 320 | 403 | 451 |
| CWIP | 0 | 33 | 2 | 33 | 384 |
| Investments | 0 | 10 | 0 | 0 | 0 |
| Other Assets | 213 | 528 | 1.3k | 2.4k | 2.3k |
| Total Assets | 263 | 688 | 1.6k | 2.8k | 3.1k |
| Line item | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ActivitiesCash from Operating | 5 | 44 | 43 | -27 |
| Cash from Investing | -24 | -69 | -198 | -896 |
| Cash from Financing | 32 | 25 | 149 | 946 |
| SummaryCapital Expenditure | — | — | — | — |
| Free Cash Flow | -18 | -17 | -144 | -628 |
| 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 (12.8×) and current (14.9×) 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 78.6% growth and a 13× exit, ₹441 only delivers your return if you pay ₹3,959. The price is currently baking in 21% growth.
EPS grows 78.6%/yr for 5 years, then fades to 6% over 2, exits at 13×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 78.6% | 52.78 |
| FY28 | 78.6% | 94.26 |
| FY29 | 78.6% | 168.35 |
| FY30 | 78.6% | 300.67 |
| FY31 | 78.6% | 536.99 |
| FY32 | 42.3% ·fade | 764.13 |
| FY33 | 6.0% ·fade | 809.98 |
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.