Solarium Green Energy Limited, established in 2015, specializes in providing turnkey solar solutions, including design, engineering, procurement, construction, testing, commissioning, transmission systems, and operation & maintenance for residential, commercial, industrial, and government solar projects.The company is launching its Solarium Green Energy Ltd IPO on February 6, 2025, with the subscription period closing on February 10, 2025.
The IPO comprises 5,499,600 equity shares, each with a face value of ₹10, aggregating up to ₹105.04 crores. Investors can bid for a minimum of 600 shares and in multiples thereof, requiring a minimum investment of ₹1,14,600.
Who is the owner of Solarium Green Energy?
Solarium Green Energy Limited was founded in 2015 by Mr. Ankit Garg, an alumnus of IIT/ISM Dhanbad. He serves as the company’s Chairman and Managing Director.
Solarium Green Energy Ltd IPO Details
- IPO Opening Date: February 6, 2025
- IPO Closing Date: February 10, 2025
- Allotment Finalization Date: February 11, 2025
- Demat Account Credit Date: February 12, 2025
- Listing Date: February 13, 2025
- Issue Size: 5,499,600 equity shares
- Total IPO Size: ₹105.04 crores
- Face Value: ₹10 per share
- Minimum Lot Size: 600 shares
- Minimum Investment Amount: ₹1,14,600
- Listing Exchange: BSE SME
Company Overview
- Company Name: Solarium Green Energy Limited
- Founded: 2015
- Founder & MD: Ankit Garg
- Business: Provides turnkey solar energy solutions, including EPC services, transmission systems, and O&M.
- Key Clients: Residential, commercial, industrial, and government sectors.
Solarium Green Energy Ltd IPO Financials Year 2024
- Revenue: ₹177.80 crores
- Profit After Tax (PAT): ₹15.59 crores
- Ongoing Projects: 41 projects worth ₹165.29 crores
- Bidding for New Projects: ₹252.86 crores
IPO Objectives
- Working capital requirements
- General corporate purposes
IPO Lead Managers & Registrar
- Book Running Lead Manager: Beeline Capital Advisors Pvt Ltd
- Registrar: Link Intime India Private Ltd
About Solarium Green Energy Ltd
Solarium Green Energy Limited, established in 2015, is a prominent renewable energy company based in Ahmedabad, Gujarat, India. The company specializes in providing turnkey solar solutions, encompassing design, engineering, procurement, construction, testing, commissioning, and comprehensive operation and maintenance services. Their diverse clientele includes residential, commercial, industrial, and government sectors.
Key Highlights:
- Product Portfolio: Solarium Green Energy offers a range of solar products, including Solar PV Modules, Solar Inverters, and other related equipment.
- Certifications: The company holds several accreditations, such as BIS (Bureau of Indian Standards), ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, underscoring their commitment to quality and safety standards.
- Leadership: Under the leadership of Chairman and Managing Director Ankit Garg, an alumnus of IIT/ISM Dhanbad, the company has experienced significant growth. The management team brings over two decades of combined experience in various industries, including renewable energy.
- Employee Strength: As of 2024, the company employs approximately 245 individuals, reflecting its substantial operational scale.
Solarium Green Energy Ltd IPO Lot Size
Here is the Solarium Green Energy Ltd IPO lot size details in a tabular format:
| Lot Size (Shares) | Amount (₹) | Investor Category |
| 600 | ₹1,14,600 | Retail Investors (Minimum) |
| 1,200 | ₹2,29,200 | Retail Investors |
| 1,800 | ₹3,43,800 | Retail Investors |
| 2,400 | ₹4,58,400 | Retail Investors |
| 3,000 | ₹5,73,000 | Retail Investors |
| 6,000 | ₹11,46,000 | High Net Worth Individuals (HNI) |
| 12,000 | ₹22,92,000 | HNI / NII (Large Investors) |
- Minimum Investment for Retail Investors: ₹1,14,600 for 600 shares
- Maximum Investment for Retail Investors: ₹5,73,000 for 3,000 shares
- HNI (Non-Institutional Investors) Category starts from: ₹11,46,000 for 6,000 shares
Solarium Green Energy Ltd IPO Financials (₹ in Crores)
| Financial Year | Revenue | EBITDA | Profit After Tax (PAT) | Net Worth | Total Assets | Total Borrowings |
| FY 2021-22 | ₹74.25 | ₹6.82 | ₹3.15 | ₹14.50 | ₹32.75 | ₹7.80 |
| FY 2022-23 | ₹125.60 | ₹12.90 | ₹6.75 | ₹21.85 | ₹48.20 | ₹12.60 |
| FY 2023-24 | ₹177.80 | ₹22.15 | ₹15.59 | ₹38.20 | ₹75.45 | ₹19.30 |
Key Financial Highlights:
- Revenue Growth: Increased from ₹74.25 Cr (FY22) to ₹177.80 Cr (FY24) (~139% growth in 2 years).
- Profitability:PAT grew 4.9x from ₹3.15 Cr (FY22) to ₹15.59 Cr (FY24).
- Net Worth Growth: Increased from ₹14.50 Cr (FY22) to ₹38.20 Cr (FY24).
- Total Assets: Grew from ₹32.75 Cr (FY22) to ₹75.45 Cr (FY24).
- Borrowings:₹19.30 Cr in FY24, showing moderate debt levels.
Key Performance Indicator
Here are the Key Performance Indicators (KPIs) for Solarium Green Energy Ltd:
Solarium Green Energy Ltd – Key Performance Indicators
| KPI | 2021-22 | 2022-23 | 2023-24 | Remarks |
| Revenue (₹ Cr) | 74.25 | 125.60 | 177.80 | Strong growth in revenue |
| EBITDA (₹ Cr) | 6.82 | 12.90 | 22.15 | Increased operational efficiency |
| EBITDA Margin (%) | 9.19% | 10.27% | 12.46% | Improving profitability |
| Profit After Tax (₹ Cr) | 3.15 | 6.75 | 15.59 | Significant increase in net profits |
| Net Profit Margin (%) | 4.24% | 5.37% | 8.77% | Higher profitability |
| Earnings Per Share (EPS) (₹) | 2.50 | 5.75 | 12.40 | Rising EPS indicates strong earnings |
| Return on Equity (ROE) (%) | 21.72% | 30.90% | 40.80% | Efficient use of equity |
| Return on Capital Employed (ROCE) (%) | 18.65% | 25.40% | 35.15% | Higher return on capital |
| Debt-to-Equity Ratio | 0.54 | 0.58 | 0.50 | Well-managed debt levels |
| Total Assets (₹ Cr) | 32.75 | 48.20 | 75.45 | Steady asset growth |
| Total Borrowings (₹ Cr) | 7.80 | 12.60 | 19.30 | Moderate debt increase |
| Order Book (₹ Cr) | 110.75 | 145.50 | 165.29 | Strong project pipeline |
Key Observations:
- Revenue & Profit Growth – Revenue nearly 2.4x growth from FY22 to FY24, PAT increased 5x
- Strong Margins – EBITDA margin improved to 12.46%, Net Profit margin at 8.77%
- Higher Return Ratios – ROE at 40.80%, showing high return on shareholder equity
- Low Debt – Debt-to-equity ratio at 0.50, indicating financial stability
- Strong Order Book – ₹165.29 Cr worth of ongoing projects ensures future revenue
Solarium Green Energy Ltd – Growth Overview
| Metric | 2021-22 | 2022-23 | 2023-24 | Growth (FY22 to FY24) |
| Revenue (₹ Cr) | 74.25 | 125.60 | 177.80 | 139% |
| EBITDA (₹ Cr) | 6.82 | 12.90 | 22.15 | 225% |
| Profit After Tax (PAT) (₹ Cr) | 3.15 | 6.75 | 15.59 | 396% |
| Net Profit Margin (%) | 4.24% | 5.37% | 8.77% | Improved by 4.53% |
| EPS (₹) | 2.50 | 5.75 | 12.40 | 396% |
| Total Assets (₹ Cr) | 32.75 | 48.20 | 75.45 | 130% |
| Net Worth (₹ Cr) | 14.50 | 21.85 | 38.20 | 163% |
| Order Book (₹ Cr) | 110.75 | 145.50 | 165.29 | 49% |
Key Observations
- Revenue Growth: Solarium Green Energy achieved a 139% increase in revenue over the past two years (FY22 to FY24), reflecting its strong market presence and expanding client base.
- Profitability: The company has experienced a 396% growth in PAT from ₹3.15 Cr (FY22) to ₹15.59 Cr (FY24), demonstrating substantial profit expansion.
- Operational Efficiency:EBITDA grew by 225%, highlighting improved operational efficiency and cost management.
- Asset & Net Worth Growth: The company’s total assets grew by 130%, and net worth expanded by 163%, indicating robust financial health.
- Order Book Growth: The order book grew by 49% between FY22 and FY24, indicating a solid pipeline of ongoing and upcoming projects.
This indicates a positive growth trajectory for Solarium Green Energy Ltd, positioning it well for further expansion and success in the renewable energy sector.
Strengths Of Solarium Green Energy Ltd IPO
(1) Strong Industry Growth
- The renewable energy sector in India is witnessing significant growth, with increasing government support for clean energy projects. Solarium Green Energy is well-positioned to benefit from this trend, especially with its focus on solar solutions.
(2) Robust Financial Growth
- The company has demonstrated impressive revenue and profit growth, with a 139% increase in revenue and 396% increase in PAT from FY22 to FY24. This shows strong operational efficiency and market acceptance.
(3) Diversified Client Base
- Solarium serves a wide range of clients, including residential, commercial, industrial, and government sectors, which helps mitigate risk from any single sector and diversifies its revenue streams.
(4) Experienced Management Team
- With Ankit Garg as the founder and managing director, Solarium Green Energy benefits from strong leadership with expertise in the renewable energy sector.
(5) Government Initiatives
- The Indian government has been actively promoting renewable energy through initiatives like National Solar Mission, which benefits solar companies like Solarium Green Energy.
Risks Of Solarium Green Energy Ltd IPO
(1) Dependency on Government Policies
- Solarium Green Energy’s growth depends significantly on government incentives, subsidies, and regulatory policies related to renewable energy. Changes in government policies, especially around subsidy schemes, could negatively impact business growth.
(2) High Competition
- The renewable energy market, especially in solar power, is highly competitive, with numerous players. The company faces intense competition from other established and new entrants, which could impact margins and market share.
(3) Execution and Project Delays
- The company’s projects could be delayed due to supply chain disruptions, logistical issues, or government clearances, affecting both timelines and revenue recognition.
(4) Geographic and Client Concentration
- The company might have exposure to geographic or client concentration risks, where a significant portion of revenue comes from specific regions or large clients. If these clients or regions face financial difficulties, it could impact business operations.
(5) Economic Downturns
- Economic slowdowns or downturns could impact discretionary spending, particularly in the commercial and industrial sectors, which may lead to a slowdown in solar adoption and new contracts.
Conclusion
- Strengths: Solarium Green Energy benefits from robust growth in the renewable energy sector, strong financials, a diversified client base, and a growing order book.
- Risks: Key risks include dependence on government policies, intense competition, project delays, price fluctuations, and potential debt exposure.
Before investing, it’s essential to assess how well the company can navigate these risks, especially considering its high growth prospects in the expanding solar sector.
Eleganz Interiors Ltd IPO: A Complete Guide to the Beginners
Is the Amwill Health Care Ltd IPO the Best Investment Opportunity in 2025?
Chamunda Electricals Ltd IPO 2025: All You Need to Know About the Upcoming Issue
Disclaimer: The content on this website is intended for informational purposes only and should not be interpreted as financial or investment advice. Engaging in stock market activities involves inherent risks, and outcomes can be unpredictable. While we strive to provide accurate and up-to-date information, we do not make any guarantees regarding the completeness or reliability of the content. Any investment decisions you make should be based on your own research and consultation with a qualified financial professional. We are not responsible for any financial gains or losses resulting from actions taken based on the information provided here. Always invest wisely and at your own risk.
