Sahaj Solar Limited (NSE SME)
Jul 11, 2024 - Jul 15, 2024
| Price | ₹171 - ₹180 |
| Premium | ₹250 |
|---|---|
| Lot size | 800 |
| Allotment | Jul 16, 2024 |
| Listing | Jul 19, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 800 | 144000 | 1203 |
| HNI | 2 | 1600 | 288000 | 516 |
Last updated on 15-Jul-2024 17:02:01
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 550400 | 117933600 | 214.27 |
| NIB | 412800 | 356019200 | 862.45 |
| RETAIL | 962400 | 514175200 | 534.26 |
| Total | 1925600 | 988128000 | 513.15 |
| Retail Apps | 642719 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹208.41 | @8% ₹238.18 | @9% ₹267.95 | @10% ₹297.72 | @11% ₹327.49 | @12% ₹357.27 |
Sahaj Solar IPO Details
| Total Issue Size | 2,920,000 shares (aggregating up to ₹52.56 Cr) |
| Fresh Issue | 2,920,000 shares (aggregating up to ₹52.56 Cr) |
| Employee Discount | Rs 15 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,066,010 |
| Share holding post issue | 10,986,010 |
| Market Maker portion | 146,400 shares Aftertrade Broking |
Sahaj Solar IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Key Performance Indicator
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 39.96% | 38.78% | 10.21% |
| ROCE | 26.47% | 35.11% | 11.42% |
| RONW | 39.96% | 38.78% | 10.21% |
| D/E | 1.72 | 0.82 | 1.70 |
| EPS (basic) | 16.70 | 8.11 | 1.30 |
| P/E Pre IPO | 10.86 | ||
| P/E Post IPO | 14.79 |
Financial Statement (Restated)
| Period Ended | Mar-24 | Mar-23 | Mar-22 | Mar-21 |
|---|---|---|---|---|
| Assets | 14,936.40 | 9,081.50 | 6,103.22 | 3,463.94 |
| Revenue | 20,171.55 | 18,580.48 | 6,728.95 | 6,218.78 |
| Profit After Tax | 1,337.29 | 648.37 | 102.5 | 70.58 |
| Net Worth | 3,293.12 | 1,637.30 | 1,002.05 | 922.01 |
| Reserves and Surplus | 2,496.78 | 859.22 | 479.99 | 405.4 |
| Total Borrowing | 5,680.86 | 1,361.97 | 1,711.35 | 1,502.87 |
| Amount in Lakhs | ||||
About Company
Sahaj Solar Limited, founded in 2010, is a prominent provider of renewable energy solutions, featuring three key business units. Their PV module manufacturing facility in Bavla, Ahmedabad, Gujarat, spans 2,883.77 square metres, with 2,445.5 square metres dedicated to factory and office space, boasting a capacity of 100 MW. This automated facility produces mono and polycrystalline PV modules, including advanced mono PERC modules, catering to solar projects both domestically and internationally. The company also offers solar water pumping systems and comprehensive EPC services across India, covering design, supply, installation, testing, commissioning, and maintenance for projects ranging from small domestic systems to large solar power plants. As of September 30, 2023, Sahaj Solar Limited employed over 64 professionals across various departments, including administration, finance, HR, project management, procurement, operations, sales, marketing, production, and top management.
Strength Factors
Diversified Customer Base: The Company boasts a broad and varied customer base with a substantial order book, ensuring stability and sustained demand for its products and services.
Advanced Manufacturing Facilities: Equipped with state-of-the-art manufacturing facilities that hold global accreditations, the company ensures high-quality production standards and international competitiveness.
Extensive Pan-India Retail Network: A widespread retail network across India allows the company to efficiently distribute its products and maintain a strong market presence nationwide.
Risk Factors
Non-Owned Registered Office: Operating from a non-owned registered office may present stability and continuity risks.
Customer Dependency: Reliance on a few large customers makes the company vulnerable to significant revenue and profitability impacts if any major customer is lost.
Supplier Dependence: Heavy dependence on key suppliers without long-term agreements for major raw materials poses a risk to business operations, potentially affecting procurement costs and supply stability.
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