New Risk • May 29
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 9.9% 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 Share price has been highly volatile over the past 3 months (9.9% average weekly change). Earnings have declined by 12% per year over the past 5 years. High level of non-cash earnings (46% accrual ratio). Market cap is less than US$10m (₹262.0m market cap, or US$2.74m). Reported Earnings • May 29
Full year 2026 earnings released: EPS: ₹0.67 (vs ₹3.36 loss in FY 2025) Full year 2026 results: EPS: ₹0.67 (up from ₹3.36 loss in FY 2025). Revenue: ₹919.7m (up 60% from FY 2025). Net income: ₹2.05m (up ₹11.6m from FY 2025). Profit margin: 0.2% (up from net loss in FY 2025). The move to profitability was driven by higher revenue. Announcement • May 19
Ahasolar Technologies Limited to Report Second Half, 2026 Results on May 28, 2026 Ahasolar Technologies Limited announced that they will report second half, 2026 results on May 28, 2026 Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₹87.48, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 19x in the Specialty Retail industry in India. Total loss to shareholders of 3.4% over the past year. New Risk • Mar 12
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. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 24% per year over the past 5 years. High level of non-cash earnings (93% accrual ratio). Market cap is less than US$10m (₹194.2m market cap, or US$2.11m). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). New Risk • Jan 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 7.1% 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: Major Risks Earnings have declined by 24% per year over the past 5 years. High level of non-cash earnings (93% accrual ratio). Market cap is less than US$10m (₹266.4m market cap, or US$2.90m). Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹99.90, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 23x in the Specialty Retail industry in India. Total loss to shareholders of 58% over the past year. Announcement • Nov 05
Ahasolar Technologies Limited to Report First Half, 2026 Results on Nov 14, 2025 Ahasolar Technologies Limited announced that they will report first half, 2026 results on Nov 14, 2025 New Risk • Aug 19
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 6.7% 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 Risks Earnings have declined by 40% per year over the past 5 years. Market cap is less than US$10m (₹332.0m market cap, or US$3.82m). Minor Risk Share price has been volatile over the past 3 months (6.7% average weekly change). Reported Earnings • Jul 30
Full year 2025 earnings released: ₹3.36 loss per share (vs ₹0.15 profit in FY 2024) Full year 2025 results: ₹3.36 loss per share (down from ₹0.15 profit in FY 2024). Revenue: ₹575.5m (up 37% from FY 2024). Net loss: ₹9.56m (down ₹9.98m from profit in FY 2024). Announcement • Jul 22
Ahasolar Technologies Limited, Annual General Meeting, Aug 22, 2025 Ahasolar Technologies Limited, Annual General Meeting, Aug 22, 2025, at 11:00 Indian Standard Time. Reported Earnings • May 28
Full year 2025 earnings released: ₹3.36 loss per share (vs ₹0.15 profit in FY 2024) Full year 2025 results: ₹3.36 loss per share (down from ₹0.15 profit in FY 2024). Revenue: ₹579.9m (up 38% from FY 2024). Net loss: ₹9.56m (down ₹9.98m from profit in FY 2024). Announcement • May 20
Ahasolar Technologies Limited to Report Q4, 2025 Results on May 27, 2025 Ahasolar Technologies Limited announced that they will report Q4, 2025 results on May 27, 2025 New Risk • May 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 30% per year over the past 5 years. Market cap is less than US$10m (₹342.9m market cap, or US$4.03m). Minor Risk Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Announcement • Jan 21
Ahasolar Technologies Limited Resignation of Pritesh Mashru as Chief Financial Officer Ahasolar Technologies Limited announced resignation of Mr. Pritesh Mashru as Chief Financial Officer of the Company with effect from January 20, 2025 due to personal reasons. New Risk • Nov 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹839.6m (US$9.96m) This is considered a major 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: Major Risks Earnings have declined by 30% per year over the past 5 years. Market cap is less than US$10m (₹839.6m market cap, or US$9.96m). Reported Earnings • Oct 29
First half 2025 earnings released: ₹9.36 loss per share (vs ₹2.25 loss in 1H 2024) First half 2025 results: ₹9.36 loss per share (further deteriorated from ₹2.25 loss in 1H 2024). Revenue: ₹228.6m (up 78% from 1H 2024). Net loss: ₹28.8m (loss widened 276% from 1H 2024). New Risk • Oct 26
New major risk - Revenue and earnings growth Earnings have declined by 30% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 30% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹1.01b market cap, or US$12.1m). Announcement • Oct 18
Ahasolar Technologies Limited to Report First Half, 2025 Results on Oct 25, 2024 Ahasolar Technologies Limited announced that they will report first half, 2025 results on Oct 25, 2024 Announcement • Aug 14
Ahasolar Technologies Limited, Annual General Meeting, Sep 20, 2024 Ahasolar Technologies Limited, Annual General Meeting, Sep 20, 2024. Recent Insider Transactions • Aug 03
Insider recently sold ₹358k worth of stock On the 1st of August, Jaydeep Parekh sold around 800 shares on-market at roughly ₹447 per share. This transaction amounted to 24% 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 the only on-market transaction from insiders over the last 12 months. New Risk • Jul 24
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 7.9% 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 High level of non-cash earnings (39% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Profit margins are more than 30% lower than last year (0.1% net profit margin). Market cap is less than US$100m (₹1.43b market cap, or US$17.1m). Reported Earnings • May 24
Full year 2024 earnings released: EPS: ₹0.15 (vs ₹7.19 in FY 2023) Full year 2024 results: EPS: ₹0.15 (down from ₹7.19 in FY 2023). Revenue: ₹420.4m (up 101% from FY 2023). Net income: ₹422.0k (down 97% from FY 2023). Profit margin: 0.1% (down from 7.7% in FY 2023). The decrease in margin was driven by higher expenses. New Risk • May 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (40% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (8.6% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin). Revenue is less than US$5m (₹239m revenue, or US$2.9m). Market cap is less than US$100m (₹1.38b market cap, or US$16.6m). Announcement • May 16
Ahasolar Technologies Limited to Report Second Half, 2024 Results on May 23, 2024 Ahasolar Technologies Limited announced that they will report second half, 2024 results on May 23, 2024 New Risk • Nov 09
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.8% Last year net profit margin: 6.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (40% accrual ratio). Market cap is less than US$10m (₹765.8m market cap, or US$9.19m). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Profit margins are more than 30% lower than last year (2.8% net profit margin). Revenue is less than US$5m (₹239m revenue, or US$2.9m). Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹262, the stock trades at a trailing P/E ratio of 50.5x. Average trailing P/E is 45x in the Specialty Retail industry in India. New Risk • Nov 02
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹829.1m (US$9.96m) This is considered a major 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: Major Risks Share price has been highly volatile over the past 3 months (9.3% average weekly change). High level of non-cash earnings (97% accrual ratio). Market cap is less than US$10m (₹829.1m market cap, or US$9.96m). Minor Risk Revenue is less than US$5m (₹209m revenue, or US$2.5m). Announcement • Oct 18
Ahasolar Technologies Limited to Report First Half, 2024 Results on Oct 30, 2023 Ahasolar Technologies Limited announced that they will report first half, 2024 results on Oct 30, 2023 Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹311, the stock trades at a trailing P/E ratio of 60x. Average trailing P/E is 41x in the Specialty Retail industry in India. Valuation Update With 7 Day Price Move • Aug 10
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to ₹454, the stock trades at a trailing P/E ratio of 79.3x. Average trailing P/E is 34x in the Software industry in India. Announcement • Jul 26
Ahasolar Technologies Limited Announces Resignation of Vrunda Manharbhai Patel as Company Secretary and Compliance Officer Ahasolar Technologies Limited announced resignation of Ms. Vrunda Manharbhai Patel as Company Secretary and Compliance Officer of the company with effect from July 25, 2023 due to personal reasons. Board Change • Jul 21
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Vilin Davda was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.