Company Overview

GRE Renew Enertech Limited (formerly GRE Renew Enertech Private Limited) submitted its Investor Presentation for June 2026 pursuant to Regulation 30 of SEBI LODR Regulations. The presentation provides an overview of the company's business, operational highlights, financial performance, and growth strategy for investor communication purposes.

Company Background

Established in 2008, GRE Renew Enertech Limited is a renewable energy company engaged in solar EPC solutions and LED lighting products across India. The company provides turnkey rooftop and ground-mounted solar power solutions for industrial, commercial and government customers. The company is ISO 9001:2015 certified and has 18+ years of operations.

Business Models

CAPEX Model (EPC): Under this model, customers invest in and own the solar power asset, while GRE acts as the EPC contractor for complete project execution. The company has executed over 100 MW of cumulative solar EPC projects with strong execution track record:

  • FY25: 17 projects, 11,936.76 KWp capacity
  • FY26: 25 projects, 23,506.04 KWp capacity
  • FY27: 23 projects, 44,088.50 KWp capacity

RESCO Model: GRE invests in, owns and operates solar power assets, while customers procure electricity under long-term power purchase agreements (PPAs).

Rooftop Solar Plants: 2,993 KWp total capacity across 7 projects with 25-year PPAs at approximately ₹5.04/kWh tariff, commissioned between April 2025 and October 2025.

Ground-Mount Solar Plants: 12,532.80 KWp total capacity across 4 projects with 25-year PPAs at tariffs ranging from ₹4.00 to ₹5.27/kWh, commissioned between June 2024 and May 2026.

Operational Highlights

  • 19+ ongoing projects
  • ₹520 million order book (excluding GST)
  • 100+ MW solar portfolio
  • 36.71+ MW under pipeline
  • 33% 3-year revenue CAGR
  • 131% 3-year EBITDA CAGR
  • 147% 3-year PAT CAGR

Management Team

Board of Directors:

  • Mr. Kamleshkumar D Patel (Promoter & Managing Director) - 26 years experience, Bachelor of Engineering in Electronics
  • Mr. Kirtikumar K Suthar (Promoter & Whole Time Director) - 35 years experience in R&D and manufacturing
  • Mr. Mukeshkumar P Trivedi (Promoter & Whole Time Director) - 36 years experience, Bachelor of Business Administration
  • Three independent directors with company secretarial and legal expertise

Management Team:

  • Mr. Alpeshkumar L Agrawal (Chief Financial Officer) - Chartered Accountant with 15+ years experience
  • Mr. Rohan J Dhruve (Compliance Officer) - Qualified Company Secretary with 7+ years experience

Financial Performance

Consolidated Income Statement (INR Million):

| Particulars | FY23 | FY24 | FY25 | FY26 |

| Revenue from Operations | 522 | 903 | 837 | 1,229 |

| EBITDA | 13 | 115 | 95 | 161 |

| EBITDA Margin (%) | 2.49% | 12.74% | 11.35% | 13.10% |

| PAT | 9 | 99 | 70 | 136 |

| PAT Margins (%) | 1.72% | 10.96% | 8.36% | 11.07% |

| EPS (INR) | 0.89 | 9.91 | 6.71 | 12.08 |

Balance Sheet Highlights (INR Million):

  • FY26 Total Assets: ₹1,061 million
  • FY26 Property Plant & Equipment: ₹151 million
  • FY26 Capital Work in Progress: ₹97 million
  • FY26 Cash and Cash Equivalents: ₹308 million

Capital Market Information (As on 31st March 2026)

  • Face Value: ₹10
  • CMP: ₹95.0
  • 52 Week H/L: ₹105.5/₹77.5
  • Market Capitalization: ₹1,357.36 million
  • P/E(X): 10.0x
  • Shares Outstanding: 14.3 million

Growth Strategies

  • Geographic expansion across India beyond Gujarat
  • Strengthening O&M-led customer relationships with 24/7 remote monitoring
  • Deepening presence in high-energy-consumption industries (ceramics, pharmaceuticals, paper)
  • Diversification into Hybrid Energy Systems and Battery Energy Storage Systems (BESS)
  • Scaling utility-scale solar development through GRE Green Energy Private Limited

Industry Overview

India has crossed 150 GW of cumulative installed solar capacity, becoming the 3rd largest solar market globally. Government targeting 500 GW of non-fossil fuel capacity by 2030. Record 44.6 GW solar capacity added during FY26. Domestic manufacturing capacity expanded from 2.3 GW in 2014 to ~172 GW in 2026.

Disclaimer

The presentation contains forward-looking statements subject to risks and uncertainties. It does not constitute any offer or recommendation to purchase securities.