Reported Earnings • May 12
Full year 2026 earnings released: EPS: ₹0.59 (vs ₹0.30 in FY 2025) Full year 2026 results: EPS: ₹0.59 (up from ₹0.30 in FY 2025). Revenue: ₹3.16b (up 20% from FY 2025). Net income: ₹695.1m (up 107% from FY 2025). Profit margin: 22% (up from 13% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Apr 28
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 8.1% 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 (8.1% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹12.74, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 32x in the Renewable Energy industry in India. Total returns to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹9.35, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 26x in the Renewable Energy industry in India. Total returns to shareholders of 21% over the past three years. New Risk • Mar 30
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.43b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₹9.43b market cap, or US$99.6m). Reported Earnings • Feb 06
Third quarter 2026 earnings released: ₹0.19 loss per share (vs ₹0.20 loss in 3Q 2025) Third quarter 2026 results: ₹0.19 loss per share (improved from ₹0.20 loss in 3Q 2025). Revenue: ₹359.7m (up 4.3% from 3Q 2025). Net loss: ₹213.1m (loss narrowed 11% from 3Q 2025). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 6% per year. Buy Or Sell Opportunity • Jan 02
Now 21% overvalued Over the last 90 days, the stock has fallen 11% to ₹11.90. The fair value is estimated to be ₹9.81, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Buy Or Sell Opportunity • Dec 09
Now 21% overvalued Over the last 90 days, the stock has fallen 14% to ₹11.96. The fair value is estimated to be ₹9.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: ₹0.25 (vs ₹0.068 in 1Q 2025) First quarter 2026 results: EPS: ₹0.25 (up from ₹0.068 in 1Q 2025). Revenue: ₹931.7m (up 47% from 1Q 2025). Net income: ₹289.3m (up 322% from 1Q 2025). Profit margin: 31% (up from 11% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Aankondiging • Jul 02
Orient Green Power Company Limited Re-Designates Mr. Panchapakesan Krishna Kumar as an Independent Non-Executive Director, Effect from May 01, 2025 Orient Green Power Company Limited at Annual General Meeting on June 30, 2025 approved to re-designate Mr. Panchapakesan Krishna Kumar as an Independent Non-Executive Director of the Company for a term of 5 consecutive years with effect from May 01, 2025 to April 30, 2030. Aankondiging • Jun 21
Orient Green Power Company Limited Announces Resignation of M Kirithika as Company Secretary & Compliance Officer, Effective 30 June 2025 Orient Green Power Company Limited announced that Ms. M Kirithika vide letter dated 19 June 2025 has tendered her resignation from the post of company secretary & compliance officer to pursue better career opportunities. Ms. M Kirithika will be relieved from the services of the company with effect from closing business hours of 30 June 2025. Reported Earnings • Jun 09
Full year 2025 earnings released: EPS: ₹0.30 (vs ₹0.41 in FY 2024) Full year 2025 results: EPS: ₹0.30 (down from ₹0.41 in FY 2024). Revenue: ₹2.63b (up 1.5% from FY 2024). Net income: ₹335.9m (down 8.0% from FY 2024). Profit margin: 13% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Aankondiging • Jun 09
Orient Green Power Company Limited, Annual General Meeting, Jun 30, 2025 Orient Green Power Company Limited, Annual General Meeting, Jun 30, 2025, at 13:00 Indian Standard Time. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹13.19, the stock trades at a trailing P/E ratio of 46.1x. Average trailing P/E is 26x in the Renewable Energy industry in India. Total returns to shareholders of 45% over the past three years. Buy Or Sell Opportunity • May 06
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to ₹11.66. The fair value is estimated to be ₹14.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.5% over the last 3 years. Earnings per share has declined by 18%. Reported Earnings • May 01
Full year 2025 earnings released: EPS: ₹0.29 (vs ₹0.41 in FY 2024) Full year 2025 results: EPS: ₹0.29 (down from ₹0.41 in FY 2024). Revenue: ₹2.83b (up 4.4% from FY 2024). Net income: ₹335.9m (down 8.0% from FY 2024). Profit margin: 12% (down from 14% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Aankondiging • Apr 16
Orient Green Power Company Limited to Report Fiscal Year 2025 Results on Apr 30, 2025 Orient Green Power Company Limited announced that they will report fiscal year 2025 results on Apr 30, 2025 Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹13.33, the stock trades at a trailing P/E ratio of 65.5x. Average trailing P/E is 27x in the Renewable Energy industry in India. Total returns to shareholders of 19% over the past three years. Reported Earnings • Jan 27
Third quarter 2025 earnings released: ₹0.20 loss per share (vs ₹0.21 loss in 3Q 2024) Third quarter 2025 results: ₹0.20 loss per share. Revenue: ₹345.0m (up 1.5% from 3Q 2024). Net loss: ₹240.2m (loss widened 14% from 3Q 2024). Aankondiging • Jan 06
Orient Green Power Company Limited to Report Q3, 2025 Results on Jan 24, 2025 Orient Green Power Company Limited announced that they will report Q3, 2025 results on Jan 24, 2025 Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹0.60 (vs ₹0.92 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.60 (down from ₹0.92 in 2Q 2024). Revenue: ₹1.26b (up 3.1% from 2Q 2024). Net income: ₹667.9m (down 11% from 2Q 2024). Profit margin: 53% (down from 61% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Oct 08
Orient Green Power Company Limited to Report Q2, 2025 Results on Oct 23, 2024 Orient Green Power Company Limited announced that they will report Q2, 2025 results on Oct 23, 2024 Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹0.068 (vs ₹0.11 in 1Q 2024) First quarter 2025 results: EPS: ₹0.068 (down from ₹0.11 in 1Q 2024). Revenue: ₹683.9m (down 13% from 1Q 2024). Net income: ₹68.5m (down 19% from 1Q 2024). Profit margin: 10.0% (in line with 1Q 2024). 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 90% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Aankondiging • Aug 02
Orient Green Power Company Limited to Report Q1, 2025 Results on Aug 14, 2024 Orient Green Power Company Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Aankondiging • Jun 08
Orient Green Power Company Limited, Annual General Meeting, Jun 28, 2024 Orient Green Power Company Limited, Annual General Meeting, Jun 28, 2024, at 12:05 Indian Standard Time. Reported Earnings • May 30
Full year 2024 earnings released: EPS: ₹0.41 (vs ₹0.45 in FY 2023) Full year 2024 results: EPS: ₹0.41. Revenue: ₹2.71b (up 4.9% from FY 2023). Net income: ₹365.3m (up 8.0% from FY 2023). Profit margin: 14% (in line with FY 2023). Aankondiging • May 05
Orient Green Power Company Limited to Report Q4, 2024 Results on May 24, 2024 Orient Green Power Company Limited announced that they will report Q4, 2024 results on May 24, 2024 New Risk • Apr 17
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 8.5% 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: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (31% increase in shares outstanding). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹22.83, the stock trades at a trailing P/E ratio of 52.6x. Average trailing P/E is 31x in the Renewable Energy industry in India. Total returns to shareholders of 1,115% over the past three years. Aankondiging • Mar 29
Orient Green Power Company Limited Announces Cessation of R Ganapathi as an Independent Director, Effective March 31, 2024 Orient Green Power Company Limited announced that Mr. R Ganapathi has completed his second term as an Independent Director and he ceased to be an Independent Director of the Company with effect from March 31, 2024. Mr. R Ganapathi, holds a bachelor's degree in technology from the Indian Institute of Technology, Madras. He is the chairman and executive director of Trigyn Technologies Limited and a fellow member of the Indian Institute of Foreign Trade. In the past, he has been associated with Bharat Heavy Electricals Ltd, Best & Crompton Engineering Limited, IG3 Infra Limited and IL&FS Technologies Limited. Also, he is associated with Orient Green Power Company Limited since February 29, 2008. Reported Earnings • Feb 10
Second quarter 2024 earnings released: EPS: ₹0.92 (vs ₹0.46 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.92 (up from ₹0.46 in 2Q 2023). Revenue: ₹1.22b (up 13% from 2Q 2023). Net income: ₹749.6m (up 115% from 2Q 2023). Profit margin: 61% (up from 32% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has increased by 131% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹27.16, the stock trades at a trailing P/E ratio of 36.6x. Average trailing P/E is 34x in the Renewable Energy industry in India. Total returns to shareholders of 997% over the past three years. New Risk • Nov 30
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 7.3% 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: Major Risk Interest payments are not well covered by earnings (1.4x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (31% increase in shares outstanding). Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹16.76, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 15x in the Renewable Energy industry in India. Total returns to shareholders of 747% over the past three years. Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: ₹0.92 (vs ₹0.47 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.92 (up from ₹0.47 in 2Q 2023). Revenue: ₹1.24b (up 15% from 2Q 2023). Net income: ₹749.6m (up 114% from 2Q 2023). Profit margin: 60% (up from 33% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has increased by 91% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 31% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (9.1% average weekly change). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (31% increase in shares outstanding). New Risk • Aug 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹0.11 (vs ₹0.14 in 1Q 2023) First quarter 2024 results: EPS: ₹0.11 (down from ₹0.14 in 1Q 2023). Revenue: ₹792.8m (up 2.0% from 1Q 2023). Net income: ₹84.1m (down 17% from 1Q 2023). Profit margin: 11% (down from 13% in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has increased by 90% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹13.10, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 15x in the Renewable Energy industry in India. Total returns to shareholders of 533% over the past three years. Aankondiging • Jul 06
Orient Green Power Company Limited Announces the Resignation of R Sundararajan as Non Executive, Non - Independent Director Orient Green Power Company Limited announced the resignation of Mr. R Sundararajan, Non Executive, Non - Independent Director vide his resignation letter dated July 04, 2023, resigned from the Board of the Company with immediate effect. New Risk • Jun 10
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 8.0% 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: Major Risk Interest payments are not well covered by earnings (0.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹7.96b market cap, or US$96.5m). Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹10.78, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 12x in the Renewable Energy industry in India. Total returns to shareholders of 232% over the past three years. Aankondiging • May 06
Orient Green Power Company Limited Appoints Sannovanda Swathi Machaiah as an Additional Director (Independent) W.E.F. May 03, 2023 Orient Green Power Company Limited appointed Ms. Sannovanda Swathi Machaiah as an Additional Director (Independent) w.e.f. May 03, 2023 for a tenure of 5 years, subject to the approval of the shareholders of the Company. Ms. Sannovanda Swathi Machaiah holds Bachelor's degree in Science (Agriculture [Gold Medalist]), Master's degree in science (Agriculture Economics as Specialization) and MBA (Finance). She is also a Certified Associate of Indian Institute of Bankers. During her academic's she has received 12 Gold Medals at Under Graduate Level & 1st rank holder for the state of Karnataka, 1979, University of Agriculture Science, Bangalore. Ms. Sannovanda Swathi Machaiah is having rich experience of 37 years in Banking at Corporation Bank upto General Manager level and at Bharatiya Mahila Bank as an Executive Director & acting MD and as an advisor, Deputy Managing Director level at State Bank of India at the time of retirement. She worked at field level, administrative level and board level with rich experience in rural banking, commercial banking and social banking. She has become Chairman Club Member 8 times, SOGian Awardee 6 times, Best Branch Awardee 2 times and Asset Recovery Awardee 3 times. She was the First lady executive of Corporation Bank after 102 years of its existence. Ms. Sannovanda Swathi Machaiah has Strong ability to determine company policies and review organization's goals, also to work under pressure and time constraints with analytical approach. Ability to manage large number of employees working at different geographical area pan India. In Corporation Bank, she headed Delhi Circle comprising of 7 zones comprising of 450 branches and around 5000 employees and Excellent Team Management with communication and interpersonal skills, ability to promote the values throughout the organization. Reported Earnings • Apr 21
Full year 2023 earnings released: EPS: ₹0.45 (vs ₹0.61 in FY 2022) Full year 2023 results: EPS: ₹0.45 (down from ₹0.61 in FY 2022). Revenue: ₹2.90b (down 6.6% from FY 2022). Net income: ₹343.5m (down 25% from FY 2022). Profit margin: 12% (down from 15% in FY 2022). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹9.20, the stock trades at a trailing P/E ratio of 28.3x. Average trailing P/E is 12x in the Renewable Energy industry in India. Total returns to shareholders of 464% over the past three years. Reported Earnings • Jan 31
Third quarter 2023 earnings released: EPS: ₹0.12 (vs ₹0.098 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.12 (up from ₹0.098 in 3Q 2022). Revenue: ₹573.3m (down 31% from 3Q 2022). Net income: ₹93.0m (up 27% from 3Q 2022). Profit margin: 16% (up from 8.8% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jan 23
Orient Green Power Company Limited to Report Q3, 2023 Results on Jan 30, 2023 Orient Green Power Company Limited announced that they will report Q3, 2023 results at 4:00 PM, Indian Standard Time on Jan 30, 2023 Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 22% share price gain to ₹11.07, the stock trades at a trailing P/E ratio of 40.1x. Average trailing P/E is 14x in the Renewable Energy industry in India. Total returns to shareholders of 454% over the past three years. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₹9.82, the stock trades at a trailing P/E ratio of 33.9x. Average trailing P/E is 15x in the Renewable Energy industry in India. Total returns to shareholders of 281% over the past three years. Board Change • Nov 16
High number of new directors Independent Chairman K Sripathi was the last director to join the board, commencing their role in 2022. Reported Earnings • Nov 03
Second quarter 2023 earnings released: EPS: ₹0.47 (vs ₹0.91 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.47 (down from ₹0.91 in 2Q 2022). Revenue: ₹1.08b (down 5.9% from 2Q 2022). Net income: ₹350.5m (down 49% from 2Q 2022). Profit margin: 32% (down from 60% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 30
First quarter 2023 earnings released: EPS: ₹0.14 (vs ₹0.02 in 1Q 2022) First quarter 2023 results: EPS: ₹0.14 (up from ₹0.02 in 1Q 2022). Revenue: ₹781.9m (up 3.8% from 1Q 2022). Net income: ₹101.4m (up ₹85.7m from 1Q 2022). Profit margin: 13% (up from 2.1% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 16% share price gain to ₹8.34, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 15x in the Renewable Energy industry in India. Total returns to shareholders of 56% over the past three years. Reported Earnings • May 21
Full year 2022 earnings released: EPS: ₹0.61 (vs ₹0.68 loss in FY 2021) Full year 2022 results: EPS: ₹0.61 (up from ₹0.68 loss in FY 2021). Revenue: ₹3.15b (up 23% from FY 2021). Net income: ₹457.5m (up ₹970.0m from FY 2021). Profit margin: 14% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 15% share price gain to ₹11.57, the stock trades at a trailing P/E ratio of 23.2x. Average trailing P/E is 20x in the Renewable Energy industry in India. Total returns to shareholders of 221% over the past three years. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 6 highly experienced directors. Non-Executive & Independent Director Chandra Ramesh was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹12.87, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 17x in the Renewable Energy industry in India. Total returns to shareholders of 223% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 27% share price gain to ₹13.36, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 19x in the Renewable Energy industry in India. Total returns to shareholders of 226% over the past three years. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₹10.45, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 19x in the Renewable Energy industry in India. Total returns to shareholders of 172% over the past three years. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment deteriorated over the past week After last week's 22% share price decline to ₹12.80, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 30x in the Renewable Energy industry in India. Total returns to shareholders of 262% over the past three years. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹18.20, the stock trades at a trailing P/E ratio of 38.3x. Average trailing P/E is 38x in the Renewable Energy industry in India. Total returns to shareholders of 278% over the past three years. Reported Earnings • Jan 20
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: ₹0.098 (up from ₹0.26 loss in 3Q 2021). Revenue: ₹825.4m (up 67% from 3Q 2021). Net income: ₹73.0m (up ₹268.1m from 3Q 2021). Profit margin: 8.8% (up from net loss in 3Q 2021). Revenue missed analyst estimates by 38%. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 15% share price gain to ₹12.06, the stock trades at a trailing P/E ratio of 79x. Average trailing P/E is 24x in the Renewable Energy industry in India. Total returns to shareholders of 101% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 27% share price gain to ₹6.80, the stock trades at a trailing P/E ratio of 45.8x. Average trailing P/E is 16x in the Renewable Energy industry in India. Total returns to shareholders of 16% over the past three years. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS ₹0.91 (vs ₹0.30 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹1.15b (up 11% from 2Q 2021). Net income: ₹686.6m (up 209% from 2Q 2021). Profit margin: 60% (up from 21% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS ₹0.017 (vs ₹0.19 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹774.4m (up 22% from 1Q 2021). Net income: ₹15.7m (up ₹153.0m from 1Q 2021). Profit margin: 2.0% (up from net loss in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 01
Full year 2021 earnings released: ₹0.69 loss per share (vs ₹0.54 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: ₹2.63b (down 29% from FY 2020). Net loss: ₹512.5m (down 227% from profit in FY 2020). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 20% share price gain to ₹2.50, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 9x in the Renewable Energy industry in India. Total loss to shareholders of 69% over the past three years. Is New 90 Day High Low • Feb 26
New 90-day low: ₹2.07 The company is down 5.0% from its price of ₹2.18 on 27 November 2020. The Indian market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 7.0% over the same period. Reported Earnings • Feb 06
Third quarter 2021 earnings released: ₹0.26 loss per share (vs ₹0.58 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: ₹580.4m (up 39% from 3Q 2020). Net loss: ₹195.1m (loss narrowed 55% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 04
New 90-day high: ₹2.65 The company is up 40% from its price of ₹1.89 on 06 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 29% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: ₹2.45 The company is up 24% from its price of ₹1.97 on 09 September 2020. The Indian market is up 18% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 44% over the same period. Is New 90 Day High Low • Oct 28
New 90-day high: ₹2.28 The company is up 12% from its price of ₹2.03 on 30 July 2020. The Indian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 33% over the same period. Valuation Update With 7 Day Price Move • Oct 27
Market bids up stock over the past week After last week's 20% share price gain to ₹2.13, the stock is trading at a trailing P/E ratio of 7.9x, up from the previous P/E ratio of 6.6x. This compares to an average P/E of 7x in the Renewable Energy industry in India. Total return to shareholders over the past three years is a loss of 78%.