Ganesh Green Bharat Ltd Secures ₹75.43 Crore Order for Water Pumping Systems; Stock in Focus
Stock Gains Amid Major Order Win
Ganesh Green Bharat Ltd, a leading Electrical Engineering company specializing in Solar PV Module manufacturing, Solar Systems, and Electrical Contracting, has attracted investor attention after bagging a significant order worth ₹75.43 crore from Maharashtra State Electricity Distribution Company Ltd (MSEDCL).
Following this announcement, the company’s stock saw an intraday high of ₹384 per share, marking a nearly 2% gain. However, as of 11:00 AM, the stock retraced slightly to ₹378.50 per share, trading relatively flat against the previous closing price of ₹377.35.
Details of the Order
On March 7, 2025, Ganesh Green Bharat Ltd confirmed that it had received the Letter of Empanelment and Rate Contract from MSEDCL.
The contract entails the design, manufacturing, supply, transport, installation, testing, and commissioning of Off-Grid DC Solar Photovoltaic Water Pumping Systems with capacities of 3 HP, 5 HP, and 7.5 HP across Maharashtra. Additionally, the company will provide a five-year warranty, repair, and maintenance services as part of the Magel Tyala Saur Krushi Pump Scheme.
This order strengthens the company’s footprint in the renewable energy sector, particularly in rural electrification and solar-powered water solutions.
Recent Order Wins Strengthening Growth
This is not the first major order for Ganesh Green Bharat Ltd in recent months. The company has secured multiple high-value contracts, reinforcing its strong position in the renewable energy and electrical engineering domain:
January 2025
- Order from Solberry Energy Pvt Ltd, Gujarat
- Purpose: Supply of 50 MW Solar PV Panel modules
- Order Value: ₹78.79 Crore
February 2025
- Letter of Award from NTPC Vidyut Vyapar Nigam Ltd
- Purpose: Development of 7131 KW Grid-Connected Rooftop Solar Projects
- Order Value: ₹33.03 Crore
These consistent order wins underline the company’s growing reputation in India’s solar energy sector and indicate strong revenue visibility.
Financial Performance: Strong Growth Momentum
Ganesh Green Bharat Ltd has demonstrated impressive financial growth, driven by increasing demand for solar energy solutions.
| Financial Metric | H1FY24 | H1FY25 | Growth (%) |
|---|---|---|---|
| Revenue from Operations | ₹58.73 Cr | ₹137.83 Cr | 135% |
| Net Profit | ₹6.79 Cr | ₹13.07 Cr | 92% |
The company’s robust revenue growth and improving profitability highlight its strong execution capabilities and growing market presence.
Client Base: Strong Institutional Backing
Ganesh Green Bharat Ltd serves an impressive portfolio of marquee clients, including:
- Rajasthan Renewable Energy Corporation Ltd
- Gujarat Energy Development Agency
- Ahmedabad Municipal Corporation
- Jharkhand Renewable Energy Development Agency
- Jaipur Vidhyut Vitaran Nigam Ltd
- Gujarat Industrial Development Corporation
This diverse client base reflects the company’s credibility and experience in handling large-scale renewable energy and electrical projects.
Stock Performance & Valuation Metrics
With a market capitalization of ₹905 crore, Ganesh Green Bharat Ltd is positioned as a mid-sized player in the renewable energy sector. Below is a snapshot of its key financial ratios:
| Metric | Value |
|---|---|
| Current Market Price | ₹365 |
| 52-Week High / Low | ₹635 / ₹327 |
| Stock P/E | 36.8 |
| Book Value per Share | ₹73.4 |
| Return on Capital Employed (ROCE) | 37.4% |
| Return on Equity (ROE) | 40.9% |
| Debt to Equity Ratio | 0.11 |
| Promoter Holding | 73.4% |
| Industry P/E | 29.2 |
| Price-to-Book Value | 4.97 |
| Intrinsic Value | ₹351 |
| EPS (Earnings Per Share) | ₹11.7 |
| Free Cash Flow (Last 3 Years) | ₹-21.0 Cr |
| Free Cash Flow (Last 5 Years) | ₹-9.17 Cr |
| Debt | ₹19.9 Cr |
| 200-Day Moving Average (DMA) | ₹425 |
| RSI (Relative Strength Index) | 41.5 |
These financial ratios suggest that while the company is growing rapidly, it needs to improve its cash flow position.
About Ganesh Green Bharat Ltd
Ganesh Green Bharat Ltd is a reputed player in the electrical contracting and solar energy solutions space. The company provides end-to-end services, including:
- Supply, Installation, Testing & Commissioning (SITC) of solar and electrical goods
- Participation in government schemes such as Saubhagya Scheme, KUSUM Scheme, and more
- Development of solar-powered water pumping systems and rooftop solar projects
With its strong execution track record, the company is well-positioned to capitalize on India’s growing renewable energy push.
Frequently Asked Questions (FAQs)
1. Why is Ganesh Green Bharat Ltd’s stock in focus?
The stock is gaining attention after the company secured a ₹75.43 crore order from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for solar-powered water pumping systems.
2. What does this new order involve?
The contract includes design, supply, transport, installation, testing, and commissioning of Off-Grid DC Solar Photovoltaic Water Pumping Systems across Maharashtra, along with five years of warranty and maintenance.
3. What other recent orders has the company secured?
- January 2025: ₹78.79 Cr order from Solberry Energy Pvt Ltd for 50 MW Solar PV Panels
- February 2025: ₹33.03 Cr order from NTPC Vidyut Vyapar Nigam Ltd for 7131 KW Grid-Connected Rooftop Solar Projects
4. How has the company performed financially?
In H1FY25, the company’s revenue surged by 135% YoY to ₹137.83 crore, while net profit grew by 92% to ₹13.07 crore.
5. Is Ganesh Green Bharat Ltd financially stable?
The company has high ROE (40.9%) and ROCE (37.4%), indicating strong profitability. However, its negative free cash flow suggests a need for better cash management.
6. What is the future outlook for the company?
With multiple government projects, increasing renewable energy adoption, and a strong order book, the company is well-positioned for sustained growth in the solar and electrical contracting sector.
Final Thoughts
Ganesh Green Bharat Ltd continues to strengthen its market presence with large-scale renewable energy projects. Its strong financial growth, robust client base, and increasing order wins indicate promising prospects. However, investors should monitor cash flow improvements before making long-term investment decisions.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.