Company Overview

GK Energy Limited (formerly GK Energy Private Limited & GK Energy Marketers Private Limited) is a renewable energy infrastructure company focused on solar-powered agricultural pumping systems, rooftop solar systems, and distributed clean energy solutions. The company is listed on BSE (544525) and NSE (GKENERGY) and operates primarily in the EPC segment for decentralized solar systems.

Financial Performance FY 2025-26

Consolidated Financials:

  • Revenue from operations: ₹17,152.80 million (56.7% YoY growth)
  • Profit Before Tax: ₹2,741.57 million (52.1% YoY growth)
  • Profit After Tax: ₹2,042.97 million (53.4% YoY growth)
  • Basic EPS: ₹10.90 (FY26) vs ₹7.86 (FY25)
  • Total Assets: ₹13,052.70 million (FY26) vs ₹5,836.24 million (FY25)

Balance Sheet Strength:

  • Cash and Cash Equivalents: ₹3,354.84 million
  • Other Bank Balances: ₹1,078.00 million
  • Total Borrowings: ₹2,054.95 million
  • Equity: ₹8,876.45 million
  • Current Ratio: 2.95 (FY26) vs 1.54 (FY25)
  • Debt-Equity Ratio: 0.23 (FY26) vs 1.04 (FY25)

Operational Performance

FY 2025-26 Achievements:

  • Systems installed: 61,085 decentralized renewable energy systems
  • Capacity commissioned: 276 MW
  • Cumulative installations: 140,000+ systems
  • Cumulative capacity: 617+ MW
  • Villages covered: 7,500+ across 6 states

Segment Performance:

  • EPC Business Revenue: ₹15,155.85 million
  • Trading Business Revenue: ₹1,996.95 million
  • EPC Segment Profit: ₹3,428.05 million
  • Trading Segment Profit: ₹61.38 million

IPO and Capital Raising

Initial Public Offering (Completed September 26, 2025):

  • Fresh issue: 26,143,790 equity shares aggregating ₹4,000 million
  • Offer for sale: 4,200,000 equity shares aggregating ₹642.60 million
  • Issue price: ₹153 per equity share
  • Pre-IPO Placement: 6,535,947 equity shares at ₹153 per share (₹1,000 million)

IPO Proceeds Utilization:

  • Funding working capital requirements: ₹3,224.58 million (100% utilized)
  • General corporate purposes: ₹464.85 million (100% utilized)
  • Total utilized: ₹3,689.43 million

Capital Structure Changes

  • Share subdivision effective December 2, 2024 (₹10 to ₹2 face value)
  • Bonus issue allotment of 162,498,750 bonus shares in ratio 25:1
  • Promoter holding changes: Gopal Rajaram Kabra reduced from 95.51% to 76.17%

Order Book and Business Visibility

  • Order book as of June 30, 2026: ₹541 crore
  • Strong revenue visibility supported by government schemes including PM-KUSUM, PM Surya Ghar Yojana
  • Targets becoming a $1 billion enterprise with 1 million installed systems by 2030

Subsidiary Information

GK Energy Solar Private Limited (100% subsidiary):

  • Manufacturing of solar panels
  • Revenue: ₹1,827.39 million
  • Profit After Tax: ₹30.24 million
  • Total Assets: ₹109.02 million

Corporate Governance and Compliance

Board of Directors: Gopal Rajaram Kabra (Chairman, MD & CEO), Mehul Ajit Shah (Whole-time Director & COO), with independent directors

Dividend: Final dividend recommended: ₹0.50 per equity share (25% on face value of ₹2)

AGM: 18th Annual General Meeting scheduled for August 31, 2026

Auditors: Bharat J Rughani & Co., Chartered Accountants (unmodified opinion)

Credit Ratings and Contingencies

Current Ratings: CARE BBB+ (Stable) / CARE A2; ICRA BBB+ (Stable)/A2; Infomerics IVR BBB+/Stable and IVR A2

Contingent Liabilities: ₹1,047.86 million (FY26) including bank guarantees of ₹993.76 million

CSR: Unspent amount of ₹16.57 million transferred to Unspent CSR Account for ongoing projects