| Market Cap | ₹256.11 CrSmall Cap |
|---|---|
| TTM P/E | 18.86Sector PE 25.04 |
| Annual Profit Growth | 93.23%YoY |
| Execution period | Approximately 6 months |
| Deal value | ₹25.56 Cr |
| Share of market cap | 10.0% |
| Share of annual revenue | 20.8% |
Key highlights
- Seven solar EPC orders aggregating ₹25.56 crore received between September 1 and September 15, 2026
- Total project capacity of approximately 6.45 MW (DC) across seven individual sites
- Implementation timeline for all projects is set at approximately six months
- Scope includes design, engineering, supply, installation, testing, and commissioning
- Contracts were awarded by domestic entities for captive scheme power plants using single-axis tracker and seasonal tilt technologies
What Is the Order?
The seven work orders involve the turnkey execution of ground-mounted solar power plants featuring both single-axis tracker and seasonal tilt technologies. Individual project capacities range from 700 kW to 2100 kW (DC), aggregating to approximately 6.45 MW of solar EPC capacity. These projects are designated under captive schemes, where the power generated is intended for the specific use of the awarding domestic entities.
The company is tasked with the complete lifecycle of the projects, from initial design and engineering to final testing and commissioning, with all projects expected to be completed within a six-month window.
Business Impact
These solar EPC contracts contribute significantly to the company's revenue visibility for the current fiscal year. Given that GRE Renew Enertech reported an annual operating revenue of ₹122.92 crore in the previous fiscal cycle, this fortnightly update representing ₹25.56 crore in new business constitutes over 20% of the previous year's total turnover. The projects are scheduled for completion within a relatively short timeframe, suggesting a rapid conversion of the order book into revenue.
This steady inflow of orders reinforces the company's operational footprint in the domestic renewable energy sector.
Business Overview
- Specializes as an RE projects developer and EPC company providing end-to-end solar solutions
- Operates a manufacturing division for LED lighting, solar lighting, and power products
- Focuses on commercial and industrial captive power plants for domestic clients
- Headquartered in Ahmedabad, Gujarat, with a significant presence in the green energy utility sector
- Reported annual revenue growth of 49.08% and net profit growth of 93.23% in the latest fiscal
Industry Landscape
The Indian solar EPC market is currently buoyed by government mandates for captive power consumption and national decarbonization goals. In this competitive landscape, GRE Renew Enertech operates with a P/E TTM of 18.86, which is lower than the industry average of 82.93 and the broader sector P/E of 25.04. This valuation context comes as the industry sees sustained demand for decentralized solar projects.
The company’s focus on captive schemes aligns with the growing trend of commercial enterprises seeking energy independence and reduced operational costs through renewable integration.
| Share price | ₹179.25 |
|---|---|
| Market capitalisation | ₹256.11 Cr |
| Revenue (annual) | ₹122.92 Cr |
| Net profit (annual) | ₹13.58 Cr |
| P/E (TTM) | 18.86×Sector 25.04× |
| Promoter holding | 69.99%0.00% QoQ |
| FII holding | 0.38%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by GRE Renew Enertech Ltd announcing the receipt of seven solar EPC orders aggregating to ₹25.56 Crore. Market figures from a third-party data provider.
