Buy Or Sell Opportunity • May 27
Now 41% overvalued after recent price rise Over the last 90 days, the stock has risen 57% to ₹22.87. The fair value is estimated to be ₹16.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years, while earnings per share has been flat. Annuncio • May 22
Adani Enterprises Limited (BSE:512599) completed the acquisition of 24% stake in Jaiprakash Power Ventures Limited (NSEI:JPPOWER) from Jaiprakash Associates Limited (BSE:532532) for INR 29.9 billion. Adani Enterprises Limited (BSE:512599) agreed to acquire 24% stake in Jaiprakash Power Ventures Limited (NSEI:JPPOWER) from Jaiprakash Associates Limited (BSE:532532) for INR 29.9 billion on March 17, 2026. Adani Enterprises Limited entered into share purchase agreement to acquire 24% stake in Jaiprakash Power Ventures Limited from Jaiprakash Associates Limited on May 21, 2026. A cash consideration of INR 29.94 billion will be paid by Adani Enterprises Limited.
The transaction is expected to close in 90 days from March 17, 2026. The transaction was approved by National Company Law Tribunal on March 17, 2026 and from Competition Commission of India on August 26, 2025.
Adani Enterprises Limited (BSE:512599) completed the acquisition of 24% stake in Jaiprakash Power Ventures Limited (NSEI:JPPOWER) from Jaiprakash Associates Limited (BSE:532532) on May 21, 2026. Reported Earnings • May 06
Full year 2026 earnings released: EPS: ₹0.49 (vs ₹0.89 in FY 2025) Full year 2026 results: EPS: ₹0.49 (down from ₹0.89 in FY 2025). Revenue: ₹57.9b (up 6.0% from FY 2025). Net income: ₹4.51b (down 44% from FY 2025). Profit margin: 7.8% (down from 15% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Apr 29
Jaiprakash Power Ventures Limited to Report Q4, 2026 Results on May 04, 2026 Jaiprakash Power Ventures Limited announced that they will report Q4, 2026 results on May 04, 2026 New Risk • Apr 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Profit margins are more than 30% lower than last year (11% net profit margin). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹19.61, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 29x in the Renewable Energy industry in India. Total returns to shareholders of 244% over the past three years. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹16.75, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 26x in the Renewable Energy industry in India. Total returns to shareholders of 191% over the past three years. Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: ₹0.004 (vs ₹0.14 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.004 (down from ₹0.14 in 3Q 2025). Revenue: ₹12.1b (up 6.3% from 3Q 2025). Net income: ₹37.7m (down 97% from 3Q 2025). Profit margin: 0.3% (down from 11% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Jan 29
Jaiprakash Power Ventures Limited to Report Q3, 2026 Results on Feb 04, 2026 Jaiprakash Power Ventures Limited announced that they will report Q3, 2026 results on Feb 04, 2026 Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹21.64, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 25x in the Renewable Energy industry in India. Total returns to shareholders of 194% over the past three years. Reported Earnings • Oct 19
Second quarter 2026 earnings released: EPS: ₹0.20 (vs ₹0.21 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.20 (down from ₹0.21 in 2Q 2025). Revenue: ₹14.8b (up 21% from 2Q 2025). Net income: ₹1.82b (flat on 2Q 2025). Profit margin: 12% (down from 15% in 2Q 2025). The decrease in margin was driven by higher expenses. Annuncio • Oct 11
Jaiprakash Power Ventures Limited to Report Q2, 2026 Results on Oct 18, 2025 Jaiprakash Power Ventures Limited announced that they will report Q2, 2026 results on Oct 18, 2025 Annuncio • Sep 11
Kotak Alternate Assets Reportedly Bids INR 74,000 Million for Jaiprakash Power Ventures, Complicating Vedanta's Plans Kotak Alternate Assets (Kotak Alternate Asset Managers Limited) has emerged the highest bidder for Jaiprakash Power Ventures Limited (NSEI:JPPOWER)’s compulsorily convertible preference shares and its debt with a cumulative offer of about INR 74,000 million, according to people in the know, potentially complicating Vedanta Limited (NSEI:VEDL)’s bid for holding company Jaiprakash Associates Ltd. (JAL). This move could hinder Vedanta's influence over JP Power, a key asset in the JAL portfolio, as Kotak Alts could gain significant ownership, triggering an open offer. Annuncio • Sep 05
Adani Power, Kotak Alternate Assets, Vedanta and Oaktree Reportedly Among the Players to Bid for an Investment in Jaiprakash Power Adani Power Limited (NSEI:ADANIPOWER), Kotak Alternate Assets, Vedanta Limited (NSEI:VEDL) and Oaktree (Oaktree Capital Management, L.P.) are among the players to bid for an investment in Jaiprakash Power Ventures Limited (NSEI:JPPOWER)'s compulsorily convertible preference shares (CCPS) worth INR 38,000 million ahead of 05 September 2025 electronic auction for its parent company Jaiprakash Associates, according to multiple people aware of the matter. The winning bidder for JP Power's CCPS could have an advantage in the bidding process for Jaiprakash Associates because the power arm has valuable assets and linkages to the parent. The CCPS upon conversion could provide the winning bidder with a 25% stake in JP Power. The conversion will trigger an open offer for a further 26% stake in the company, as per the regulator Sebi's guidelines. Effectively, the winning bidder could come to own over 51% stake in JP Power and become a controlling shareholder. Jaiprakash Associates owns a 24% stake in JP Power. The CCPS are owned by a group of lenders led by ICICI Bank. Some of the four bidders for the CCPS are expected to participate in the auction for parent company Jaiprakash Associates on 05 September 2025. They include Adani Group and Vedanta. Jindal Power Limited, which is also likely to participate in Friday's auction, did not submit a firm bid for JP Power's compulsorily convertible preference shares. However, they have made a conditional offer, sources said. The group of lenders led by ICICI Bank could recover the entire amount of INR 38,000 million or the face value of the CCPS, as per sources. Adani Power, Kotak Alternate Assets, Oaktree Capital, Vedanta and Jindal Power did not respond to ET's queries. ICICI Bank also did not reply to an email seeking comments. Bidding for Jaiprakash Associates will open on 05 September 2025 with a base price of INR 120,000 million. ET had first reported on July 29 that the creditors of JP Power were looking to sell the CCPS that they had been allotted as part of a debt restructuring of the power company in 2019. Reported Earnings • Jul 31
First quarter 2026 earnings released: EPS: ₹0.31 (vs ₹0.40 in 1Q 2025) First quarter 2026 results: EPS: ₹0.31 (down from ₹0.40 in 1Q 2025). Revenue: ₹15.8b (down 9.8% from 1Q 2025). Net income: ₹2.78b (down 20% from 1Q 2025). Profit margin: 18% (down from 20% in 1Q 2025). The decrease in margin was driven by lower revenue. Buy Or Sell Opportunity • Jul 25
Now 20% undervalued Over the last 90 days, the stock has risen 34% to ₹20.12. The fair value is estimated to be ₹25.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has grown by 49%. Annuncio • Jul 23
Jaiprakash Power Ventures Limited to Report Q1, 2026 Results on Jul 30, 2025 Jaiprakash Power Ventures Limited announced that they will report Q1, 2026 results on Jul 30, 2025 New Risk • Jul 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹22.65, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 31x in the Renewable Energy industry in India. Total returns to shareholders of 254% over the past three years. Reported Earnings • Jun 13
Full year 2025 earnings released: EPS: ₹0.89 (vs ₹1.09 in FY 2024) Full year 2025 results: EPS: ₹0.89 (down from ₹1.09 in FY 2024). Revenue: ₹54.6b (down 19% from FY 2024). Net income: ₹8.11b (down 20% from FY 2024). Profit margin: 15% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹17.99, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 32x in the Renewable Energy industry in India. Total returns to shareholders of 169% over the past three years. Annuncio • Jun 09
Jaiprakash Power Ventures Limited, Annual General Meeting, Jul 05, 2025 Jaiprakash Power Ventures Limited, Annual General Meeting, Jul 05, 2025, at 11:30 Indian Standard Time. Reported Earnings • May 02
Full year 2025 earnings released: EPS: ₹0.89 (vs ₹1.49 in FY 2024) Full year 2025 results: EPS: ₹0.89 (down from ₹1.49 in FY 2024). Revenue: ₹57.1b (down 16% from FY 2024). Net income: ₹8.14b (down 20% from FY 2024). Profit margin: 14% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Annuncio • Apr 25
Jaiprakash Power Ventures Limited to Report Q4, 2025 Results on May 01, 2025 Jaiprakash Power Ventures Limited announced that they will report Q4, 2025 results on May 01, 2025 Annuncio • Mar 12
Jaiprakash Power Ventures Limited and Jaiprakash Associates Limited Announce Resignation of Shri Rama Raman as Independent Director Jaiprakash Power Ventures Limited announced Resignation of Shri Rama Raman as the Independent Director of the Company and Board Committees of other listed company - Jaiprakash Associates Limited, vide his Resignation Letter dated 12th March 2025, with immediate effect. Additional Information in case of resignation of an Independent Director Names of listed entities In which the resigning director holds directorships, indicating the category of Directorship and Membership of Board Committees, if any; Independent Director in JAIPRAKASH ASSOCIATES LIMITED (Under CIRP), Stakeholders' Relationship Committee (Chairperson), Corporate Social Responsibility (Chairperson), Risk Management Committee (Member), Shri Rama Raman has also resigned from Jaiprakash Associates Limited (Under CIRP), vide his resignation dated 12th March 2025. Annuncio • Feb 22
Jaiprakash Power Ventures Limited Announces Resignation of Pritesh Vinay as Non- Executive Director and Member of Nomination and Remuneration Committee Jaiprakash Power Ventures Limited announced that Shri Pritesh Vinay, has tendered his resignation as the Non- Executive Director of the Company vide his resignation letter dated February 21, 2025, received through email on February 21, 2025, citing his "other professional work related commitments which are more demanding". Consequently, he shall also cease to be a Member of Nomination and Remuneration Committee (NRC) of the Company. Reported Earnings • Feb 02
Third quarter 2025 earnings released Third quarter 2025 results: EPS: ₹0.14. Revenue: ₹11.4b (down 48% from 3Q 2024). Net income: ₹1.27b (down 27% from 3Q 2024). Profit margin: 11% (up from 7.9% in 3Q 2024). The increase in margin was driven by lower expenses. New Risk • Dec 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹18.93, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 33x in the Renewable Energy industry in India. Total returns to shareholders of 325% over the past three years. Reported Earnings • Oct 27
Second quarter 2025 earnings released Second quarter 2025 results: EPS: ₹0.21. Revenue: ₹13.1b (down 3.3% from 2Q 2024). Net income: ₹1.83b (up 166% from 2Q 2024). Profit margin: 14% (up from 5.1% in 2Q 2024). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Oct 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹20.10, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 46x in the Renewable Energy industry in India. Total returns to shareholders of 362% over the past three years. Board Change • Sep 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 7 experienced directors. 3 highly experienced directors. Independent Director Rama Raman was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annuncio • Aug 08
Jaiprakash Power Ventures Limited, Annual General Meeting, Sep 02, 2024 Jaiprakash Power Ventures Limited, Annual General Meeting, Sep 02, 2024, at 11:00 Indian Standard Time. Reported Earnings • Jul 28
First quarter 2025 earnings released First quarter 2025 results: EPS: ₹0.40. Revenue: ₹17.8b (up 4.2% from 1Q 2024). Net income: ₹3.49b (up 82% from 1Q 2024). Profit margin: 20% (up from 11% in 1Q 2024). Annuncio • Jul 10
Jaiprakash Power Ventures Limited Announces Withdrawal of Nomination of Sonam Bodh as Nominee Director on the Board Jaiprakash Power Ventures Limited announced that IDBI Bank Limited has withdrawn the nomination of Shri Sonam Bodh the then General Manager, Audit, IDBI Bank Ltd., SCO 72-73, Sector 17 - B, Chandigarh Pin: 160017, as IDBI Bank's Nominee Director on the Board of the Company with effect from the date of letter 9 July, 2024. Reported Earnings • Apr 28
Full year 2024 earnings released: EPS: ₹1.20 (vs ₹0.077 in FY 2023) Full year 2024 results: EPS: ₹1.20 (up from ₹0.077 in FY 2023). Revenue: ₹71.5b (up 24% from FY 2023). Net income: ₹10.2b (up ₹9.69b from FY 2023). Profit margin: 14% (up from 0.9% in FY 2023). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹17.60, the stock trades at a trailing P/E ratio of 31.2x. Average trailing P/E is 27x in the Renewable Energy industry in India. Total returns to shareholders of 450% over the past three years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹19.90, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 34x in the Renewable Energy industry in India. Total returns to shareholders of 665% over the past three years. Reported Earnings • Jan 30
Third quarter 2024 earnings released Third quarter 2024 results: EPS: ₹0.16. Revenue: ₹22.1b (up 84% from 3Q 2023). Net income: ₹1.73b (up ₹3.91b from 3Q 2023). Profit margin: 7.8% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth. Annuncio • Jan 23
Jaiprakash Power Ventures Limited to Report Q3, 2024 Results on Jan 29, 2024 Jaiprakash Power Ventures Limited announced that they will report Q3, 2024 results on Jan 29, 2024 Recent Insider Transactions • Dec 09
Chairman of the Board recently sold ₹2.6m worth of stock On the 5th of December, Manoj Gaur sold around 200k shares on-market at roughly ₹12.91 per share. This transaction amounted to 64% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Manoj's only on-market trade for the last 12 months. Reported Earnings • Nov 11
Second quarter 2024 earnings released Second quarter 2024 results: EPS: ₹0.06. Revenue: ₹13.6b (down 1.9% from 2Q 2023). Net income: ₹686.6m (down 9.0% from 2Q 2023). Profit margin: 5.1% (down from 5.4% in 2Q 2023). The decrease in margin was driven by lower revenue. Buying Opportunity • Nov 08
Now 21% undervalued Over the last 90 days, the stock is up 81%. The fair value is estimated to be ₹17.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable. Annuncio • Nov 04
Jaiprakash Power Ventures Limited to Report Q2, 2024 Results on Nov 10, 2023 Jaiprakash Power Ventures Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Annuncio • Sep 05
Jaiprakash Power Ventures Limited, Annual General Meeting, Sep 29, 2023 Jaiprakash Power Ventures Limited, Annual General Meeting, Sep 29, 2023, at 11:30 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended 31 March, 2023, Auditors Report thereon together with the Report of the Board of Directors; to consider directorate reappointments; to ratify the remuneration of Cost Auditors for the Financial Year ending 31 March, 2024; and to consider other matters. Annuncio • Aug 31
Jaiprakash Power Ventures Limited Announces Shri Jagmohan Garg Tendered His Resignation as the Independent Director, Chairman of the Stakeholder Relationship Committee and Member of Committee of Directors (Debt Restructuring) Jaiprakash Power Ventures Limited informed about the following changes in composition of the Board: Shri Jagmohan Garg (DIN: 00364981), has tendered his resignation as the Independent Director of the Company vide his resignation dated 28th August, 2023, received through courier on 29th August, 2023, citing "personal reasons". Consequently, he shall also cease to be a Chairman the Stakeholder Relationship Committee and Member of Committee of Directors (Debt Restructuring) of the Company. Reported Earnings • Jul 29
First quarter 2024 earnings released First quarter 2024 results: EPS: ₹0.18. Revenue: ₹17.1b (down 5.8% from 1Q 2023). Net income: ₹1.92b (down 21% from 1Q 2023). Profit margin: 11% (down from 13% in 1Q 2023). Annuncio • Jul 24
Jaiprakash Power Ventures Limited to Report Q1, 2024 Results on Jul 28, 2023 Jaiprakash Power Ventures Limited announced that they will report Q1, 2024 results on Jul 28, 2023 Reported Earnings • May 10
Full year 2023 earnings released: EPS: ₹0.05 (vs ₹0.15 in FY 2022) Full year 2023 results: EPS: ₹0.05 (down from ₹0.15 in FY 2022). Revenue: ₹59.2b (up 28% from FY 2022). Net income: ₹554.2m (down 47% from FY 2022). Profit margin: 0.9% (down from 2.3% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 88% per year whereas the company’s share price has increased by 86% per year. Reported Earnings • Feb 14
Third quarter 2023 earnings released: ₹0.21 loss per share (vs ₹0.099 profit in 3Q 2022) Third quarter 2023 results: ₹0.21 loss per share (down from ₹0.099 profit in 3Q 2022). Revenue: ₹12.1b (down 14% from 3Q 2022). Net loss: ₹2.18b (down 304% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 59% per year, which means it is significantly lagging earnings growth. Annuncio • Feb 07
Jaiprakash Power Ventures Limited to Report Q3, 2023 Results on Feb 13, 2023 Jaiprakash Power Ventures Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Board Change • Nov 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Director Dinesh Likhi was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 23
Second quarter 2023 earnings released Second quarter 2023 results: EPS: ₹0.07. Revenue: ₹15.0b (up 67% from 2Q 2022). Net income: ₹754.2m (up ₹768.4m from 2Q 2022). Profit margin: 5.0% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has increased by 89% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improved over the past week After last week's 17% share price gain to ₹8.45, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 17x in the Renewable Energy industry in India. Total returns to shareholders of 635% over the past three years. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improved over the past week After last week's 21% share price gain to ₹9.05, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 17x in the Renewable Energy industry in India. Total returns to shareholders of 432% over the past three years. Reported Earnings • Aug 10
First quarter 2023 earnings released First quarter 2023 results: EPS: ₹0.23. Revenue: ₹18.3b (up 100% from 1Q 2022). Net income: ₹2.42b (up ₹2.38b from 1Q 2022). Profit margin: 13% (up from 0.5% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year whereas the company’s share price has increased by 70% per year. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 19% share price gain to ₹7.30, the stock trades at a trailing P/E ratio of 45.1x. Average trailing P/E is 17x in the Renewable Energy industry in India. Total returns to shareholders of 342% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹5.60, the stock trades at a trailing P/E ratio of 38.8x. Average trailing P/E is 15x in the Renewable Energy industry in India. Total returns to shareholders of 180% over the past three years. Reported Earnings • May 28
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: ₹48.6b (up 47% from FY 2021). Net income: ₹1.07b (down 49% from FY 2021). Profit margin: 2.2% (down from 6.3% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 39%. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improved over the past week After last week's 19% share price gain to ₹7.35, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 20x in the Renewable Energy industry in India. Total returns to shareholders of 177% over the past three years. Board Change • Apr 27
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Director Dinesh Likhi was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improved over the past week After last week's 18% share price gain to ₹8.05, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 19x in the Renewable Energy industry in India. Total returns to shareholders of 274% over the past three years. Recent Insider Transactions • Apr 06
Insider recently bought ₹1.4m worth of stock On the 31st of March, Anjali Jain bought around 200k shares on-market at roughly ₹6.92 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹7.30, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 21x in the Renewable Energy industry in India. Total returns to shareholders of 306% over the past three years. Reported Earnings • Feb 15
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: ₹0.099. Revenue: ₹14.0b (up 42% from 3Q 2021). Net income: ₹1.07b (up ₹1.16b from 3Q 2021). Profit margin: 7.6% (up from net loss in 3Q 2021). Revenue missed analyst estimates by 39%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improved over the past week After last week's 22% share price gain to ₹5.90, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 23x in the Renewable Energy industry in India. Total returns to shareholders of 188% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improved over the past week After last week's 30% share price gain to ₹5.80, the stock trades at a trailing P/E ratio of 24.4x. Average trailing P/E is 23x in the Renewable Energy industry in India. Total returns to shareholders of 190% over the past three years. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹4.70, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 20x in the Renewable Energy industry in India. Total returns to shareholders of 161% over the past three years. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 24% share price gain to ₹5.20, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 16x in the Renewable Energy industry in India. Total returns to shareholders of 148% over the past three years. Reported Earnings • Aug 09
First quarter 2022 earnings released The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2022 results: Revenue: ₹9.15b (up 33% from 1Q 2021). Net income: ₹43.4m (down 81% from 1Q 2021). Profit margin: 0.5% (down from 3.4% in 1Q 2021). Reported Earnings • Jun 18
Full year 2021 earnings released: EPS ₹0.20 (vs ₹3.01 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2021 results: Revenue: ₹34.3b (flat on FY 2020). Net income: ₹2.27b (up ₹23.9b from FY 2020). Profit margin: 6.6% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 30
Third quarter 2021 earnings released: ₹0.018 loss per share (vs ₹2.99 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ₹9.88b (up 18% from 3Q 2020). Net loss: ₹123.3m (loss narrowed 99% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 07
New 90-day high: ₹3.15 The company is up 13% from its price of ₹2.80 on 08 September 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 45% over the same period. Reported Earnings • Nov 08
Second quarter 2021 earnings released: EPS ₹0.042 The company reported a decent second quarter result with improved earnings and profit margins, although revenues were flat. Second quarter 2021 results: Revenue: ₹7.85b (flat on 2Q 2020). Net income: ₹448.1m (up ₹2.13b from 2Q 2020). Profit margin: 5.7% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses.