Incorporated in 2015, Solar91 Cleantech Limited is engaged in providing Engineering, Procurement, and Construction (EPC) Solar Energy Solutions to commercial and industrial customers with renewable energy systems to help reduce their power consumption.
The company primarily focuses on serving customers and investors in the distributed renewable energy market. This includes rooftop solar for industrial, commercial, and residential sectors, as well as open access, group captive solutions, agro PV, and distributed solar investment opportunities.
The company will develop its own solar projects under the IPP model and has started working on projects under the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM Kusum) Scheme, a government initiative for solarizing agricultural feeders.
The company has received multiple awards and is recognized as an industry leader in Rajasthan and nationally in the Commercial and Industrial Solar PV sector.
Their Business Segment:
For the past 9 years, the company has operated in 13 states across the country and successfully completed an EPC project in Kenya. The company has commissioned 191 projects across India and 1 project in Africa, with a total capacity of over 94 MW.
As of September 30, 2024, the company has a team of 81 employees.
Competitive Strength:
Solar91 Cleantech Limited’s revenue increased by 14% and profit after tax (PAT) rose by 1060% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 5,247.35 | 2,495.28 | 1,299.4 | 953.85 | ||||||||||||||||||||||||||||||||||||
| Revenue | 5,053.51 | 4,297.4 | 3,766.95 | 4,201.23 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 400.01 | 235.81 | 20.33 | 32.34 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 2,843.35 | 471.5 | 235.68 | 130.56 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 1,335.57 | 469.95 | 234.14 | 129.29 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,196.44 | 1,084.72 | 776.21 | 226.36 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
| KPI | Values |
|---|---|
| ROE | 0.50% |
| ROCE | 25.81% |
| Debt/Equity | 2.30 |
| RoNW | 49.51% |
| PAT Margin | 5.46 |
The Company intends to utilize the proceeds:-
| IPO Date | December 24, 2024 to December 27, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹185 to ₹195 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 54,36,000 shares (aggregating up to ₹106.00 Cr) |
| Fresh Issue | 54,36,000 shares (aggregating up to ₹ 106.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,50,77,809 shares |
| Share Holding Post Issue | 2,05,13,809 shares |
| Market Maker Portion | 3,04,800 shares |
Mr. Prateek Agrawal, Mr. Saurabh Vyas, Mr. Sandeep Gurnani and Mr. Dhawal Gaurang Vasavada are the promoters of the company.
| Share Holding Pre Issue | 69.75% |
| Share Holding Post Issue | 51.26% |
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