Ganesh Green Bharat Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹511 Cr
- P/E
- 6.80
- ROE
- 31.76%
- PEG
- 0.06
- Price to sales
- 0.47
- Debt to equity
- 0.18
- 52W high / low
- ₹444 / ₹202
- Sales growth (5Y)
- 66.48%
- EBITDA margin
- 10.43%
- Net profit margin
- 7.06%
- Promoter holding
- 73.42%
- Sales (last year)
- ₹1,065 Cr
Incorporated in 2016, Ganesh Green Bharat Ltd specializes in Solar PV Module manufacturing, Solar Systems and Allied Services, Electrical Contracting, and Water Supply Scheme Projects[1]
Guidance scorecard · Q4 FY26 call
What Ganesh Green Bharat Ltd's management guided
and where it ranks in Electrical Equipment
Electrical Equipment
RevenueQ4 FY26 call
40%+- Company targets a minimum growth of 50%-70% annually over the next 5 years.
- Expected revenue for FY27 is in the range of INR1,500 crores to INR1,700 crores, potentially exceeding INR1,700 crores if execution pace improves or new orders are received.
- BESS segment is a key growth driver with significant orders, including a 1 gigawatt hour capacity order from NTPC REL.
- Order book and bid pipeline sufficient for 1.5 years, with ongoing tenders worth INR3,000 crores in modules and INR1,500 crores in BESS.
- Production capacity utilization for solar modules was 76% in FY26; target is 85% utilization in FY27.
2 more points from Ganesh Green Bharat Ltd's call on revenue
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MarginsQ4 FY26 call
Up 0–2%See what Ganesh Green Bharat Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- Planning to expand solar cell manufacturing capacity up to 1 gigawatt with tentative capex around INR 300 crores.
- Earlier 1-gigawatt plant cost was about INR 800 crores; current costs are lower due to idle Chinese line availability and better support.
- A larger investment of INR 750 to 800 crores planned for lithium battery cell and Battery Energy Storage System (BESS) manufacturing, including Battery Management Systems.
- Module capacity expansion planned from 1.1 GW to 2 GW in phases, potentially accelerated to 2026 based on strong demand and new orders.
2 more points from Ganesh Green Bharat Ltd's call on capex
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FundraisingQ4 FY26 call
PlannedSee what Ganesh Green Bharat Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- Current order book includes 500 MW in modules.
- Participated in non-DCR tenders for about 2,000 MW, providing 1 to 1.5 years of work visibility.
- Total bid value in modules stands at INR 3,000 crores (INR 2,000 crores in modules, plus additional INR 1,000 crores).
- For BESS, bids participated worth around INR 1,500 crores; expected to secure orders between INR 1,000 to 1,500 crores.
- Total order book combining modules and BESS sufficient for approximately 1.5 years.
- Actively bidding for more tenders, including around INR 2,000 MW non-DCR projects.
2 more points from Ganesh Green Bharat Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Electrical Equipment
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Electrical Equipment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹72,673 Cr | 18.1 | |
| 2 | 40%+ | Up 2%+ | ₹21,700 Cr | 158.1 | |
| 3 | 40%+ | Up 2%+ | ₹491 Cr | 12.2 | |
| 4 | 40%+ | Up 0–2% | ₹12,434 Cr | 48.4 | |
| 5 | 40%+ | Up 0–2% | ₹2,042 Cr | 35.4 | |
| 6 | Ganesh Green Bharat LtdThis stock | 40%+ | Up 0–2% | ₹529 Cr | 7.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment rankingFinancials of Ganesh Green Bharat Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Ganesh Green Bharat Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Ganesh Green Bharat Ltd
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 106 | 90 | 170 | 318 | 1,068 |
| Expenses + | 96 | 76 | 135 | 270 | 954 |
| Operating Profit | 9 | 14 | 35 | 48 | 114 |
| OPM % | 9% | 15% | 21% | 15% | 11% |
| Other Income + | 1 | 0 | 2 | 4 | 0 |
| Interest | 2 | 3 | 5 | 5 | 6 |
| Depreciation | 1 | 1 | 3 | 5 | 10 |
| Profit before tax | 7 | 11 | 28 | 41 | 98 |
| Tax % | 26% | 26% | 23% | 27% | 23% |
| Net Profit + | 5 | 8 | 22 | 30 | 75 |
| EPS in Rs | 43.42 | 68.00 | 10.93 | 12.18 | 30.31 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Financials of Ganesh Green Bharat Ltd
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 18 | 25 | 25 |
| Reserves | 26 | 34 | 39 | 180 | 256 |
| Borrowings + | 22 | 27 | 54 | 48 | 52 |
| Other Liabilities + | 39 | 25 | 39 | 86 | 155 |
| Total Liabilities | 88 | 88 | 150 | 339 | 488 |
| Fixed Assets + | 2 | 2 | 21 | 48 | 54 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 87 | 86 | 129 | 290 | 433 |
| Total Assets | 88 | 88 | 150 | 339 | 488 |
Financials of Ganesh Green Bharat Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | -8 | -2 | 25 | -29 | 21 |
| Cash from Investing Activity + | -2 | -0 | -34 | -48 | -26 |
| Cash from Financing Activity + | 10 | 3 | 10 | 107 | -1 |
| Net Cash Flow | 0 | -0 | 0 | 30 | -6 |
| Free Cash Flow | -10 | -3 | 17 | -62 | 6 |
| CFO/OP | -71% | 4% | 78% | -46% | 28% |
Financials of Ganesh Green Bharat Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 81 | 81 | 87 | 65 | 21 |
| Inventory Days | 39 | 99 | 127 | 176 | 68 |
| Days Payable | 100 | 123 | 90 | 76 | 33 |
| Cash Conversion Cycle | 20 | 57 | 124 | 164 | 57 |
| Working Capital Days | 72 | 141 | 38 | 100 | 50 |
| ROCE % | 24% | 38% | 25% | 35% |
Guidance history
How Ganesh Green Bharat Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 40%+ | Up 0–2% | Planned | Planned | Rising |
| Q2 FY26 call → | 40%+ | Flat | Planned | — | Rising |
| Q4 FY25 call → | 20–40% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
3 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −49.1% | 5% |
| Last 6 months | −39.6% | 3% |
| Last 3 months | −19.5% | 19% |
The price is 66.1% below its all-time high of ₹610.75 (27 Dec 2024). Stocks more than 20% below their peak have their score halved, so 7 became 3.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Ganesh Green Bharat Ltd: 0.4 × 5 + 0.4 × 3 + 0.2 × 19 = 7, halved to 3 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Ganesh Green Bharat Ltd's management said in earlier quarters
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