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Sahaj Solar Q4 FY26 Share Price & Earnings Call Analysis

₹76.15+0.13% today
Market cap
₹167 Cr
P/E
5.65
ROE
23.97%
PEG
0.10
Price to sales
0.39
Debt to equity
1.27
52W high / low
₹221 / ₹76.0
Sales growth (5Y)
46.59%
EBITDA margin
12.35%
Net profit margin
7.23%
Promoter holding
71.28%
Sales (last year)
₹419 Cr

Guidance scorecard · Q4 FY26 call

What Sahaj Solar's management guided
and where it ranks in Electrical Equipment

#42of 58 in
Electrical Equipment
Revenue20–40%MarginsFlatCapexNone plannedFundraisingPlannedOrder bookRising

RevenueQ4 FY26 call

20–40%
  • Sahaj Solar Limited expects revenue growth of at least 30% plus for FY27 and over the next 3 years.
  • The current order book stands at INR 402 crores, which is planned to be fully executed during FY27.
  • The growth is driven by solar and battery energy storage system (BESS) projects, solar water pumps (KUSUM 2 scheme), off-grid solutions including work with Border Security Forces, and international projects (e.g., Zambia, Mauritius).
  • Bulk milk chiller deployment (~10,000 units over 3 years) with NDDB partnership will contribute to growth.
  • New technologies like anti-soil coating and nano technology coating on solar panels are expected to enhance product lifespan and reduce degradation, supporting sales growth.

2 more points from Sahaj Solar's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Flat

See what Sahaj Solar said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

None planned
  • The company is currently utilizing its existing 100 megawatt module manufacturing capacity at around 30-35% for internal consumption, operating typically on a one-shift basis.
  • Plans for further module manufacturing capacity expansion have been put on hold due to existing market conditions; no immediate expansion is planned.
  • A 750 megawatt module manufacturing plant initially planned for India has been shifted to Dubai, reflecting a strategic realignment considering geopolitical factors.
  • The company has upgraded its existing 100 megawatt module manufacturing line with new technology and is running it at approximately 60% capacity.

2 more points from Sahaj Solar's call on capex

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Full Q4 FY26 analysis

FundraisingQ4 FY26 call

Planned

See what Sahaj Solar said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

Rising
  • Current order book stands at INR 402 crores, expected to be fully executed in FY27.
  • Additional pipeline includes international projects such as a 10 MW Zambia project valued around INR 55 crores, currently under execution with expected completion in FY27.
  • The company has bid for over INR 1,000 crores worth of new orders, though award confirmations are pending.

2 more points from Sahaj Solar's call on the order book

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Full Q4 FY26 analysis
Full Electrical Equipment ranking

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

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Sahaj Solar rank?

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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

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹72,673 Cr18.1
240%+Up 2%+₹21,700 Cr158.1
340%+Up 2%+₹491 Cr12.2
440%+Up 0–2%₹12,434 Cr48.4
540%+Up 0–2%₹2,042 Cr35.4
640%+Up 0–2%₹529 Cr7.0

Sign up free to see every company in the sector ranking and track Sahaj Solar.

Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment ranking

Financials of Sahaj Solar

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Sahaj Solar

Shareholding breakup across reporting periods.

Sep 2024Mar 2025Apr 2025Sep 2025Mar 2026Sep 2026
Promoters +71.28%71.28%71.28%71.28%71.28%71.28%
FIIs +1.11%0.03%0.03%0.03%0.01%0.01%
DIIs +4.02%1.82%1.82%1.25%1.12%0.99%
Public +23.60%26.87%26.87%27.44%27.59%27.72%
No. of Shareholders1,5512,9472,9823,1963,1223,073

Financials of Sahaj Solar

Quarterly Results

Quarter-by-quarter operating performance

No quarterly results data available for this company yet.

Financials of Sahaj Solar

Profit & Loss

Annual income statement trend

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +6267185201330419
Expenses +5963174177288367
Operating Profit3411244252
OPM %5%6%6%12%13%12%
Other Income +010112
Interest1224411
Depreciation111112
Profit before tax119203841
Tax %29%28%24%32%26%26%
Net Profit +116132830
EPS in Rs0.380.654.048.1712.5213.46
Dividend Payout %0%0%0%0%0%0%

Financials of Sahaj Solar

Balance Sheet

Capital structure and asset base

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital55881122
Reserves4592598116
Borrowings +1517145757176
Other Liabilities +10346160138166
Total Liabilities356191149304479
Fixed Assets +10887624
CWIP0000011
Investments000000
Other Assets +255383142298445
Total Assets356191149304479

Financials of Sahaj Solar

Cash Flows

Operating, investing and financing cash movement

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +4-210-35-47-78
Cash from Investing Activity +-20-1-0-0-29
Cash from Financing Activity +-21-74445108
Net Cash Flow-0-119-20
Free Cash Flow2-39-35-47-108
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit132%-35%117%-116%-86%-151%

Financials of Sahaj Solar

Ratios

Working capital efficiency and return ratios

Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days53204106161218281
Inventory Days717326363126
Days Payable59210124103168131
Cash Conversion Cycle646789482176
Working Capital Days20391757161
ROCE %11%36%39%33%22%

Guidance history

How Sahaj Solar's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →20–40%FlatNone plannedPlannedRising
Q2 FY26 call →40%+FlatPlannedPlannedRising
Q4 FY25 call →20–40%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

Continue your research

What Sahaj Solar's management said in earlier quarters

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