On 6 Nov 2026, GRE Renew Enertech was priced at ₹236.80, or 19.6× trailing earnings, against an industry P/E of 15.5×, and the shares are 15% below their 52-week high. Sales and net profit grew 33% and 148% a year over 3 years, with ROCE of 26% and ROE of 24%. It carries very little debt. It is listed on an SME platform with a market cap of ₹338 Cr, ranked 20th of 27 Solar companies by market cap; the shares rose 160% over the past year.
- ₹240.00
- ₹240.00
- ₹229.50
- ₹229.50
- 7.2K
Health check
- ReturnsAhead
+159.6% over a year, better than 7 of 7 peers.
- Price tagPricier
P/E 19.6 vs industry 15.5.
- GrowthSteady
Sales +33.0%, profit +147.7% a year over 3 years.
- ProfitabilityAverage
ROCE 25.8% vs peer median 27.4%.
- Balance sheetSolid
Practically debt-free, Piotroski 6 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹338 Cr
- Small cap
- P/E
- 19.6
- Industry 15.5
- Price to book
- 4.25
- Peers 4.38
- Dividend yield
- 0.00%
- ROE
- 24.5%
- Peers 29.9%
- ROCE
- 25.8%
- Peers 27.4%
- Debt to equity
- 0.02
- Debt ₹1.80 Cr
- EPS (TTM)
- ₹12.08
- OPM (TTM)
- 14.5%
- Net margin 11.0%
- Sales growth
- n/a
- Year-ago quarter not reported
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 2.75
- EV/EBITDA 17.5
Strengths and risks
Strengths
- Return on equity of 24.5%.
- Return on capital employed of 25.8%.
- Practically debt-free.
About GRE Renew Enertech
GRE Renew Enertech Limited provides solar energy solutions in India. The company offers industrial, residential, commercial, education institute, and government sector rooftop solar products; turnkey development, execution, financing, operations and maintenance, and planning and strategy services; and solar power purchase agreement services. It also provides LED bulbs, LED batten and T-8 LED tube lights, and LED panel lights; and LWS flood lights, LED…
- Headquarters
- Ahmedabad
- Employees
- 52
- Sector
- Technology
- ISIN
- INE0U8P01015
- Website
- greindia.com
Price range
- Avg volume (3M)
- 18.9K
- 1-year return
- plus 159.6%
- From 52-week high
- minus 15.0%
Peers · Solar
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| WAAREEENERWaaree Energies | 2,438.00 | minus 0.46% | 70,129 | 19.0 | 12.0 | 30.1% | 19.9% | 0.31 | 57.8% | minus 27.3% |
| PREMIERENEPremier Energies | 890.00 | plus 0.85% | 40,316 | 22.5 | 17.4 | 27.4% | 29.9% | 0.86 | 76.2% | minus 15.3% |
| EMMVEEEmmvee Photovoltaic Power | 251.31 | minus 0.28% | 17,399 | 12.1 | 9.7 | 34.5% | 34.7% | 0.25 | 102.7% | plus 14.5% |
| KARAMTARAKaramtara Engineering | 375.70 | minus 0.96% | 12,091 | 52.8 | 27.7 | 18.1% | 9.0% | 0.91 | 40.4% | plus 6.7% |
| UTLSOLARFujiyama Power Systems | 351.80 | minus 9.21% | 10,811 | 35.7 | 22.5 | 28.9% | 18.8% | 0.41 | 58.7% | plus 68.8% |
| BORORENEWBOROSIL RENEWABLES | 403.20 | minus 2.55% | 5,934 | 13.4 | 12.1 | 9.5% | 30.1% | 0.07 | 20.2% | minus 37.6% |
| VIKRAMSOLRVikram Solar | 142.39 | plus 1.95% | 5,160 | 14.1 | 6.0 | 20.5% | 15.4% | 0.20 | 32.3% | minus 56.6% |
| GRERENEWGRE Renew Enertech | 236.80 | plus 3.18% | 338 | 19.6 | 19.2 | 25.8% | 14.5% | 0.02 | 33.0% | plus 159.6% |
| Median of 7 peers | – | −0.46% | 12,091 | 19.0 | 12.1 | 27.4% | 19.9% | 0.31 | 57.8% | −15.3% |
Quarterly results
This company doesn’t report these figures in a format we can read yet.
Profit & loss
- Sales CAGR 3Y
- +33.0%
- Profit CAGR 3Y
- +147.7%
- ROE
- 24.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 52.2 | 90.3 | 83.7 | 123 | |
| – | +73.0% | minus 7.3% | +46.8% | |
| 49.9 | 78.9 | 74.3 | 107 | |
| 2.3 | 11.5 | 9.5 | 16.3 | |
| 4.4% | 12.7% | 11.3% | 13.3% | |
| 0.8 | 0.9 | 0.6 | 2.8 | |
| 0.3 | 0.4 | 0.3 | 0.3 | |
| 0.4 | 0.3 | 0.4 | 0.7 | |
| −0.9 | 0.9 | 0.1 | – | |
| 1.5 | 12.6 | 9.5 | 18.1 | |
| 41.3% | 21.6% | 25.8% | 25.0% | |
| 0.9 | 9.9 | 7 | 13.6 | |
| – | +1009.6% | minus 29.1% | +93.3% | |
| 0.62 | 6.93 | 4.92 | – |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1.3 | 1.3 | 10.5 | 14.3 | |
| 9.9 | 19.8 | 11.3 | 54.4 | |
| 4.8 | 4.6 | 1.6 | 1.7 | |
| 35.8 | 23.5 | 11.9 | 24 | |
| 51.6 | 49.1 | 35.2 | 94.4 | |
| 2.9 | 3.7 | 12.7 | 20.6 | |
| 0.3 | 1.5 | 8.6 | 6.6 | |
| 0.1 | 0.1 | 0.1 | 0.1 | |
| 1.5 | 6.1 | 2.9 | 27.5 | |
| 46.9 | 37.7 | 11 | 39.7 | |
| 51.6 | 49.1 | 35.2 | 94.4 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −2.9 | 5.8 | 10.5 | 4.6 | |
| 6 | −0.6 | −10.1 | −15.3 | |
| −3.3 | −0.6 | −0 | 34.9 | |
| −0.2 | 4.6 | 0.4 | 24.1 | |
| −0.6 | −1.4 | −10.9 | −11.3 | |
| −3.5 | 4.4 | −0.4 | −6.8 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.