Incorporated in April 2016, Ganesh Green Bharat Limited is an Electrical Contracting Service company specialising in the supply, installation, testing, and commissioning (SITC) of solar and electrical goods and services for various government bodies.
The company has successfully completed projects under significant government schemes, including the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna. Additionally, Ganesh Green Bharat has expanded its expertise to designing, building, installing, operating, and maintaining water supply projects such as the Mukhya Mantri Nishchay Quality Affected Yojna and Har Ghar Jal (Jal Jeevan Mission).
As of March 31, 2024, the company's Order Book consists of 10 work orders for Solar System and allied Services, 7 work orders for Electrical Contracting Services, and 1 work order for Water Supply Scheme Projects. The company employs 10 engineers, supported by third-party consultants and industry experts, who ensure compliance with industry and government standards.
Ganesh Green Bharat's clientele includes government departments across eight states, such as the Gujarat Industrial Development Corporation (GIDC), Ahmedabad Municipal Corporation (AMC), and Rajasthan Renewable Energy Corporation Limited (RRECL).
The company also sells Solar PV modules to private sector organisations. As of March 31, 2024, Ganesh Green Bharat Limited had a workforce of approximately 39 employees and contract labourers at its project sites.
Industry Outlook:
- India's renewable power capacity grew at 15.92% annually from FY16-22, expected to double by 2026.
- India's energy demand is projected to reach 15,820 TWh by 2040, with renewables playing a crucial role.
Ganesh Green Bharat Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Repayment in full or in part, of certain of the outstanding borrowings;
- Funding Capital Expenditure towards the installation of additional plant and machinery at the factory
- Funding to meet working capital requirements
- General Corporate Purpose
Peer Details
The following are the listed industry peers of Ganesh Green Bharat Limited:
- Solex Energy Limited
- Waaree Renewable Technologies Limited
- Zodiac Energy Limited
How to Check the Allotment Status of the Ganesh Green Bharat Limited IPO?
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Contact Details of Ganesh Green Bharat Limited IPO
- Registered office: F-202. S.G. Business Hub, S.G. Highway, Ahmedabad-382470 Gujarat India
- Phone: +91-79-29703080
- E-mail: cs@ganeshgreen.com
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Total Revenue (in ₹ lakh) | 5926.49 | 450.10 |
| Profit After Tax (PAT) (in ₹ lakh) | 747.94 | (123.59) |
| Cash & Cash Equivalents (in ₹ lakh) | 61.59 | 44.83 |
| Net Worth (in ₹ lakh) | 598.84 | (149.14) |
| Debt Equity Ratio (x) | 0.91 | 0.78 |
| Return on Equity (%) | 46.42% | 26.18% |
| Return on Capital Employed (RoCE) (%) | 29.98% | 21.70% |
| Diluted Earning Per Share (EPS)-in absolute ₹ | 2493.12 | (471.39) |
Know before investing
Strengths
7Diversified solutions in renewable energy, water supply, and electrical contracting.
Core competency in EPC projects and Solar PV module manufacturing.
Strong government support with schemes like PLI and Atmanirbhar Bharat.
Significant growth with revenue from operations reaching ₹ 17,017.02 lakhs.
Extensive experience in government projects like Saubhagya and KUSUM schemes.
In-house design team of 10 engineers ensures quality project execution.
Robust order book with projects worth ₹ 31,397.57 lakhs.
Risks
7Rising raw material and labour costs may adversely affect business.
Project delays could lead to the termination of EPC agreements.
Heavy reliance on in-house designing and engineering teams.
Projects awarded through a competitive government bidding process.
Limited control over fluctuating prices of essential materials.
Potential delays in project approvals from government authorities.
