Manufactures solar PV modules in India, expanding into cells, wafer/ingot and battery storage (BESS).
Price
Market Cap
Sector
Industrials
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 28 | 24 | 259 | 259 | 259 | 317 | 362 | 362 |
| Reserves | 334 | 391 | 92 | 106 | 187 | 941 | 2.6k | 2.8k |
| Borrowings | 494 | 672 | 703 | 792 | 854 | 272 | 262 | 617 |
| Other Liabilities | 720 | 712 | 1.2k | 1.3k | 1.3k | 1.3k | 1.6k | 1.8k |
| Total Liabilities | 1.6k | 1.8k | 2.2k | 2.5k | 2.6k | 2.8k | 4.8k | 5.6k |
| AssetsFixed Assets | 357 | 381 | 547 | 644 | 505 | 534 | 630 | 1.1k |
| CWIP | 11 | 67 | 4 | 18 | 28 | 14 | 169 | 19 |
| Investments | 0 | 0 | 0 | 0 | 0 | 119 | 0 | 742 |
| Other Assets | 1.2k | 1.4k | 1.7k | 1.8k | 2.1k | 2.2k | 4.0k | 3.8k |
| Total Assets | 1.6k | 1.8k | 2.2k | 2.5k | 2.6k | 2.8k | 4.8k | 5.6k |
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 227 | 13 | 201 | 195 | 152 | 290 | 667 |
| Cash from Investing | -36 | -40 | -155 | -110 | -64 | -175 | -1.8k |
| Cash from Financing | -174 | 4 | -36 | -102 | -81 | -92 | 1.1k |
| SummaryCapital Expenditure | — | — | — | — | — | — | — |
| Free Cash Flow | 182 | -40 | 56 | 82 | 81 | 184 | 384 |
| FCF Margin | — | — | — | — | — | — | — |
This looks cyclical, and we don't have enough quarters to establish a through-cycle earnings base. Valuing it off the current point in the cycle would be misleading.
VIKRAMSOLR · CYCLICAL_UNMODELABLE
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