On 6 Nov 2026, Ujaas Energy was priced at ₹181.02, or 1810.2× trailing earnings, against an industry P/E of 15.5×, and the shares are 36% below their 52-week high. Its ROCE of 5.5% is the lowest among the 7 largest Solar peers, and sales fell 18% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. Debt is 0.25× equity. It is a small-cap company with a market cap of ₹2,415 Cr, ranked 12th of 27 Solar companies by market cap; the shares rose 47% over the past year.
- ₹182.27
- ₹183.90
- ₹180.02
- ₹181.34
- 5.2K
Health check
- ReturnsAhead
+47.3% over a year, better than 6 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthShrinking
Sales −17.7% a year over 3 years.
- ProfitabilityWeak
ROCE 5.5% vs peer median 27.4%.
- Balance sheetSolid
Debt 0.25× equity, interest covered 136.6×, Piotroski 6 of 9.
- Red flags5 to check
Return on equity is low at 7.2%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹2,415 Cr
- Small cap
- P/E
- 1810.2
- Industry 15.5
- Price to book
- 25.10
- Peers 4.38
- Dividend yield
- 0.00%
- ROE
- 7.2%
- Peers 29.9%
- ROCE
- 5.5%
- Peers 27.4%
- Debt to equity
- 0.25
- Debt ₹24 Cr
- EPS (TTM)
- ₹0.10
- Face value ₹1
- OPM (TTM)
- −20.4%
- Net margin 32.7%
- Sales growth
- +14.5%
- Latest quarter vs a year ago
- Profit growth
- +30.8%
- Latest quarter vs a year ago
- Price to sales
- 120.07
- EV/EBITDA −12611.1
Strengths and risks
Strengths
- Quarterly profit up 30.8% on a year ago.
Risks to check
- Return on equity is low at 7.2%.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- P/E of 1810.2 against an industry P/E of 15.5.
- 36% below its 52-week high.
- Interest coverage of only −97.5×.
About Ujaas Energy
Ujaas Energy Limited engages in the generation of solar power in India. It operates through Solar Power Generation and Maintenance; Manufacturing and Sale of Solar Power Plant; and Electric Vehicle (EV) segments. The company develops, operates, owns, and maintains a portfolio of solar energy power plants under the UJAAS brand name; and provides engineering, procurement, and construction services; operations and maintenance services; and land and…
- Headquarters
- Indore
- Employees
- 77
- Sector
- Technology
- ISIN
- INE899L01030
- Website
- ujaas.com
Price range
- Avg volume (3M)
- 26.2K
- 1-year return
- plus 47.3%
- From 52-week high
- minus 36.3%
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% |
| UELUjaas Energy | 181.02 | minus 0.18% | 2,415 | 1810.2 | – | 5.5% | −20.4% | 0.25 | −17.7% | plus 47.3% |
| Median of 7 peers | – | −0.46% | 12,091 | 19.0 | 12.1 | 27.4% | 19.9% | 0.31 | 57.8% | −15.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 2.6 | 4.9 | 3.5 | 5.6 | 3 | |
| 5.9 | 4.3 | 4.1 | 6.2 | 5.8 | |
| −3.2 | 0.5 | −0.7 | −0.5 | −2.8 | |
| −122.3% | 10.8% | −18.8% | −9.7% | −92.0% | |
| 6.6 | 0.6 | 1 | 1.3 | 7.2 | |
| 0 | 0 | 0 | 0.1 | 0 | |
| 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |
| 3.2 | 0.9 | 0.2 | 0.5 | 4.3 | |
| 21.6% | 89.8% | 21.4% | 18.8% | 23.7% | |
| 2.5 | 0.1 | 0.2 | 0.4 | 3.3 | |
| 0.07 | 0.00 | 0.01 | 0.01 | 0.09 |
Profit & loss
- Sales CAGR 3Y
- −17.7%
- ROE
- 7.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 29.8 | 26.4 | 26.7 | 16.6 | |
| – | minus 11.3% | +1.3% | minus 37.8% | |
| 27 | 26.5 | 20.4 | 20.1 | |
| 2.8 | −0.1 | 6.4 | −3.5 | |
| 9.4% | −0.2% | 23.9% | −20.9% | |
| 0.4 | 25.6 | 1.1 | 3.4 | |
| 15.6 | 10.5 | 0 | 0 | |
| 7.2 | 7.5 | 0.5 | 0.5 | |
| 0 | −9.1 | 4.1 | 5.4 | |
| −19.6 | −1.5 | 11 | 4.8 | |
| 7.9% | 1976.3% | 19.8% | 34.5% | |
| −18.1 | 29 | 8.9 | 3.2 | |
| – | – | minus 69.4% | minus 64.3% | |
| -95.24 | 0.25 | 0.26 | 0.08 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 20 | 10.5 | 10.7 | 13.3 | |
| 29.7 | 78.6 | 74.8 | 75.3 | |
| 106 | 18.5 | 24 | 24 | |
| 147 | 3 | 3.2 | 4.4 | |
| 303 | 111 | 113 | 117 | |
| 134 | 29.4 | 29.7 | 29.2 | |
| 17.7 | 8.3 | 6.5 | 3.5 | |
| 2.1 | 16.3 | 14.7 | 17.4 | |
| 149 | 56.6 | 61.9 | 66.9 | |
| 303 | 111 | 113 | 117 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −0.5 | 122 | 2.8 | 4.4 | |
| −3.7 | −0.8 | −6.6 | −4 | |
| −0.7 | −121 | 5.2 | −0.2 | |
| −4.8 | −0.4 | 1.3 | 0.2 | |
| −0.1 | −0 | −0.8 | −0 | |
| −0.5 | 122 | 2 | 4.3 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.