Solarium Green Energy Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹212 Cr
- P/E
- 12.44
- ROE
- 11.21%
- PEG
- 0.10
- Price to sales
- 0.58
- Debt to equity
- 0.96
- 52W high / low
- ₹331 / ₹94.4
- EBITDA margin
- 8.29%
- Net profit margin
- 4.63%
- Promoter holding
- 58.58%
- Sales (last year)
- ₹368 Cr
Guidance scorecard · Q4 FY26 call
What Solarium Green's management guided
RevenueQ4 FY26 call
20–40%- Revenue is expected to continue growing at rates similar to or higher than the past couple of years, driven by ramp-up in manufacturing and large EPC project execution.
- With the manufacturing facility now active and a robust order book of over ₹300 crores, growth rate is anticipated to accelerate further.
- The company has a forward pipeline of 300 MW+ EPC projects under active discussion, with a hopeful conversion of around 60% within 2-3 months.
- Margins are expected to improve, targeting an exit EBITDA margin of around 10-12% in FY27, up from the current 8-9%.
- Finance costs proportionate to revenue are expected to reduce progressively as manufacturing operations generate returns.
2 more points from Solarium Green's call on revenue
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MarginsQ4 FY26 call
FlatSee what Solarium Green said on margins — free account, 30 seconds.
CapexQ4 FY26 call
None planned- No major CAPEX is foreseen in FY27; focus will be on execution and ramp-up of manufacturing volumes.
- FY26 included a significant CAPEX of approximately ₹90 crores for commissioning the 1.2 GW module manufacturing facility.
- Additionally, ₹100 crores working capital was invested for manufacturing operations in FY26.
- Finance costs related to these CAPEX and working capital were ₹10.5 crores in FY26, expected to stabilize as manufacturing scales.
2 more points from Solarium Green's call on capex
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FundraisingQ4 FY26 call
PlannedSee what Solarium Green said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- Current executed order book: Over ₹300 crores as of FY26.
- Large EPC segment: Confirmed 50 MW ground-mounted solar project in Maharashtra valued at ₹185 crores.
- Active discussions/pipeline: Over 300 MW of EPC projects are under advanced discussion.
- Expected conversion: Around 60% conversion of the 300 MW pipeline expected within the next 2-3 months.
- Residential segment: Monthly run rate of ₹10-12 crores, expected to rise to ₹16-18 crores including solar kits by end of calendar year.
- Captive module consumption: Approximately 65 MW of confirmed captive module consumption within EPC order book.
2 more points from Solarium Green'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
This quarter's potential multibaggers
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.
Financials of Solarium Green
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Solarium Green
Quarterly Results
Quarter-by-quarter operating performance
Financials of Solarium Green
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| Sales + | 167 | 99 | 177 | 230 | 265 |
| Expenses + | 163 | 93 | 153 | 204 | 237 |
| Operating Profit | 5 | 6 | 24 | 26 | 28 |
| OPM % | 3% | 6% | 14% | 11% | 10% |
| Other Income + | 1 | 0 | 0 | 1 | 4 |
| Interest | 1 | 1 | 3 | 4 | 7 |
| Depreciation | 1 | 2 | 1 | 1 | 1 |
| Profit before tax | 3 | 3 | 21 | 23 | 24 |
| Tax % | 39% | 43% | 26% | 18% | |
| Net Profit + | 2 | 2 | 16 | 19 | 20 |
| EPS in Rs | 6.83 | 5.80 | 52.47 | 8.92 | 9.72 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
Financials of Solarium Green
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 21 | 21 |
| Reserves | 0 | 2 | 18 | 121 | 130 |
| Borrowings + | 15 | 27 | 32 | 68 | 117 |
| Other Liabilities + | 14 | 13 | 26 | 25 | 29 |
| Total Liabilities | 32 | 44 | 78 | 234 | 297 |
| Fixed Assets + | 5 | 6 | 6 | 6 | 10 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 27 | 39 | 72 | 228 | 288 |
| Total Assets | 32 | 44 | 78 | 234 | 297 |
Financials of Solarium Green
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Cash from Operating Activity + | 6 | -4 | -0 | -62 |
| Cash from Investing Activity + | -2 | -4 | -3 | 2 |
| Cash from Financing Activity + | -4 | 10 | 2 | 135 |
| Net Cash Flow | -1 | 2 | -2 | 75 |
| Free Cash Flow | 5 | -6 | -1 | -63 |
| CFO/OP | 150% | -48% | 23% | -221% |
Financials of Solarium Green
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 14 | 27 | 65 | 144 |
| Inventory Days | 21 | 58 | 61 | 97 |
| Days Payable | 25 | 41 | 35 | 43 |
| Cash Conversion Cycle | 10 | 44 | 91 | 198 |
| Working Capital Days | 5 | 14 | 30 | 86 |
| ROCE % | 18% | 57% | 20% |
Guidance history
How Solarium Green's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 20–40% | Flat | None planned | Planned | Rising |
| Q2 FY26 call → | 40%+ | Flat | Planned | Planned | Rising |
| Q4 FY25 call → | 20–40% | Flat | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.