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Ganesh Green Bharat

Listed EPC / O&M — per-stock model.

As of 21 Aug 2026
EPC / O&M
CMP 238NSE: GANR

Latest concall

Q4 FY26 · 29 May 2026
  • Won 1,000MWh BESS EPC order from NTPC Renewable Energy, disclosed on the earnings call.
  • Order book jumped to Rs2,210cr from ~Rs700cr on new tender wins post-results.
  • FY26 revenue Rs1,067.6cr up 232%; PAT Rs75.2cr up 149%; EBITDA Rs113.6cr up 122%.
  • Portfolio spans solar EPC, rural electrification/water and now large-scale BESS.
Order-book execution

Rs2,210cr book against FY27 guidance of Rs1,500-1,700cr implies roughly 15-18 months of execution visibility.

Management guidance
  • FY27 revenue guided at Rs1,500-1,700cr (~40-59% growth).
  • Actively bidding large BESS and solar tenders to extend the book.
  • BESS emerging as a major new growth vertical alongside core solar EPC.

FY26 earnings call 29-May-2026; NSE press release, saurenergy.com, scanx.trade, SolarQuarter

Order book

₹2,210cr

Revenue FY26E

1,068₹ cr

EBITDA margin

11%

P/E

7.9×

Financials

Annual · ₹ crore · E = estimate.

Annual financials

₹ crore · FY25 → FY28E

PeriodRevenueEBITDAEBITDA %PATGross %ROE %ROCE %CapexNet debtEPS ₹WC days
FY2210699.0%543.4
FY23901415.0%868.0
FY241703521.0%2210.9
FY253184815.0%3012.2
FY261,06811411.0%7530.3
Source Market data (mid-2026) + company filings· As of 21 Aug 2026

Revenue, EBITDA & margin

Bars ₹cr (left) · margin % (right)

Source Market data (mid-2026) + company filings· As of 21 Aug 2026

Quarterly

₹ crore · recent quarters.

Quarterly financials

₹ crore

QuarterRevenueEBITDAEBITDA %PATPAT %
Q2FY24591321.0%711.9%
Q4FY241112320.0%1513.5%
Q2FY251382115.0%139.4%
Q4FY251822916.0%179.3%
Q2FY263414914.0%339.7%
Q4FY26725649.0%425.8%
Source Market data (mid-2026) + company filings· As of 21 Aug 2026

Revenue & margin trend

Bars ₹cr (left) · margin % (right)

Source Market data (mid-2026) + company filings· As of 21 Aug 2026

Valuation

As of 21 Aug 2026

P/E

7.9×

EV / EBITDA

5.6×

P/B

2.1×

Operating & order mix

Unit economics and the order book.

Shareholding

% · as of 31 Mar 2026

Shareholding pattern

%

Source Market data (mid-2026) + company filings· As of 21 Aug 2026