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GRE Renew Enertech Ltd (544682)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544682 NSE: Engineering - Construction | Small Cap | GRE Renew Enertech Share Price

₹226 -16.00 (-6.61%)

As on 22-Oct'26 16:59

GRE Renew Enertech Ltd (544682)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544682 NSE: Engineering - Construction | Small Cap | GRE Renew Enertech Share Price

₹226 -16.00 (-6.61%)

As on 22-Oct'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹323 Cr.
Current Price
₹226
52-Week Low / High
₹78 / 279
TTM EPS
₹9.5
TTM Sales
₹123 Cr.
Book Value per Share
₹55.7
P/E Ratio
23.78
Higher than its 5-year historical median
Industry PE
22.4
Price to Book (P/B)
4.05
Higher than its 5-year historical median
Price to Sales (P/S)
2.63
Higher than its 5-year historical median
EV/EBITDA
15.33
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
24.49%
Outperforms industry median
Return on Capital Employed (ROCE)
32.31%
Outperforms industry median
Return on Assets (ROA)
17.92%
Operating Profit Margin
13.3%
Net Profit Margin
11.05%
Gross Profit Margin
15.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
44.8%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
72.59%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
93.45%
Asset Quality
Promoter Holding
68.59%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹65 Cr.
Equity
₹14.3 Cr.
Face Value
₹10
All Time Low / High
₹77.50 / 278.55

GRE Renew Enertech stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is GRE Renew Enertech Ltd a good quality company?
GRE Renew Enertech Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does GRE Renew Enertech Ltd performance compare with that of its Peers?
Q.1 Revenue growth of GRE Renew Enertech Ltd vs industry peers?
GRE Renew Enertech Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of GRE Renew Enertech Ltd?
Promoters hold 68.59% of the GRE Renew Enertech Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of GRE Renew Enertech Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
GRE Renew Enertech Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ8.1%17.2%90.5%49.4%35.2%-
Value Creation
Index ⓘ
-0.40.25.52.51.5-

Growth Parameters ⓘ

Sales ⓘ11.4347679.7115115
Sales YoY Gr.-198.8%123.8%4.8%44.8%-
Adj EPS ⓘ0.20.87.86.78.58.5
YoY Gr.-413.3%918.2%-15.1%26.9%-
BVPS (₹) ⓘ2.93.611.620.748.148.1
Adj Net
Profit ⓘ
0.20.87.8712.112
Cash Flow from Ops. ⓘ-0.30.56.29.35.3-
Debt/CF from Ops. ⓘ-12.910.30.70.20.3-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANA50.3%44.8%
Adj EPS ⓘNANA122.2%26.9%
BVPSⓘNANA137.7%132.3%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ
5.323.8103.141.926.717.6
Op. Profit
Mgn % ⓘ
44.214.412.213.5NAN
Net Profit
Mgn % ⓘ
1.32.310.38.810.510.5
Debt to
Equity ⓘ
1.51.30.40.10-
Working Cap
Days ⓘ
02571751171040
Cash Conv.
Cycle ⓘ
0493341280

Valuation of GRE Renew Enertech - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26
Sales36529084123
Operating Expenses ⓘ + 35517974107
Manufacturing Costs014514
Material Costs2945706483
Employee Cost 32233
Other Costs ⓘ 23336
Operating Profit ⓘ 1111916
Operating Profit Margin (%) 3.0%2.6%12.7%11.3%13.3%
Other Income ⓘ + 11213
Exceptional Items ⓘ 00000
Interest ⓘ 10000
Depreciation ⓘ 00001
Profit Before Tax ⓘ 1213918
Tax ⓘ 01325
Profit After Tax 1110714
PAT Margin (%) 2.6%1.7%11.0%8.4%11.1%
Adjusted EPS (₹)0.90.99.96.79.5
Dividend Payout Ratio (%)0%0%0%0%0%
PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1011213180
Share Capital ⓘ 1.251.251.2510.5214.29
Reserves ⓘ 910202165
Debt +85411
Long Term Debt31211
Short Term Debt43200
Minority Interest00000
Trade Payables111410
Others Liabilities ⓘ 03523915
Total Liabilities ⓘ 19524945106

Fixed Assets

Net Fixed Assets ⓘ +932515
Gross Block1366920
Accumulated Depreciation43344
CWIP ⓘ 002910
Investments ⓘ 00000
Inventories345412
Trade Receivables325910
Cash Equivalents flag ⓘ 226731
Others Assets ⓘ 241291129
Total Assets ⓘ 19524945106
PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + -0-36105
PBT ⓘ 1213918
Adjustment ⓘ 11000
Changes in Working Capital ⓘ -2-4-43-10
Tax Paid ⓘ -1-1-3-2-4
Cash Flow From Investing Activity ⓘ + -06-1-10-15
Capex -06-1-11-11
Net Investments 0-0000
Others ⓘ 0001-4
Cash Flow From Financing Activity ⓘ + -1-3-1-035
Net Proceeds from Shares ⓘ 000335
Net Proceeds from Borrowing ⓘ -1-21-10
Interest Paid ⓘ -1-0-0-0-0
Dividend Paid ⓘ 00000
Others ⓘ 0-1-1-20
Net Cash Flow ⓘ -1-05024
PARTICULARSMar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)9.328.5461.5826.8824.49
ROCE (%)11.3611.2862.7833.5132.31
Asset Turnover Ratio1.871.481.791.771.62
PAT to CFO Conversion(x)-0-30.61.430.36
Working Capital Days
Receivable Days27.8016.401531.5027.90
Inventory Days34.602617.9019.7023.40
Payable Days15.909.20414.2031.10

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Announcements

GRE Renew Enertech Ltd FAQs

The current trading price of GRE Renew Enertech on 22-Oct-2026 16:59 is ₹226.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Oct-2026 the market cap of GRE Renew Enertech stood at ₹322.9 Cr

The latest P/E ratio of GRE Renew Enertech as of 21-Oct-2026 is 26.73.

The latest P/B ratio of GRE Renew Enertech as of 21-Oct-2026 is 4.70.

The 52-week high of GRE Renew Enertech is ₹278.6 and the 52-week low is ₹77.50.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GRE Renew Enertech is ₹115 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that GRE Renew Enertech Ltd is a below average quality company.

The key valuation ratios of GRE Renew Enertech Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of GRE Renew Enertech Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About GRE Renew Enertech Ltd

GRE Renew Enertech was originally carrying on co-partnership business in name and style of ‘M/s. G.R.E. Electronics’ in the terms and conditions contained in the Partnership Deed dated April 1, 1999. Thereafter deed of Co-Partnery was entered on April 24, 2008, between all the partners of M/s. GRE Electronics, where all the parties hereto for the sake of smooth working and better and effective management and improvement and advancement of business, have agreed to register the said Joint Stock Company under Part IX of the Companies Act, 1956 as a Private Limited Company with the Name ‘GRE Electronics Private Limited’. Accordingly, the partnership firm was converted into Private Limited Company in the name and style of ‘GRE Electronics Private Limited’ on October 24, 2008. Further the name of the company was changed from ‘GRE Electronics Private Limited’ to ‘GRE Renew Enertech Private Limited’ on June 01, 2023. Subsequently, the company was converted into a Public Company vide special resolution passed by the Shareholders at the Extra Ordinary General Meeting held on May 28, 2024, and consequently, the name of the company was changed from ‘GRE Renew Enertech Private Limited’ to ‘GRE Renew Enertech Limited’ on July 24, 2024.

It is an emerging player in the field of Rooftop and ground mount solar solutions. It is a company that specializes in providing solar energy solutions to industrial and commercial customers. It offers green energy solutions by installing on-site solar projects. Its business operations are primarily divided into two segments: Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). Under the CAPEX model, it offers Engineering, Procurement, construction, and operation of solar projects. In this model, customers invest in the Capital Expenditure at their own and the company does Engineering, Procurement, Construction, and Operation on behalf of the client. Under the RESCO model, agreement is entered into with roof-top owners. The rooftop owners may consume the electricity generated, for which they have to pay a pre decided tariff to it as RESCO developer for the tenure of the agreement. In this model the assets (solar panels and installations) belong to the company. Under RESCO model, it may also develop ground mount project, in which case land for the project is owned by the company, either on freehold or leasehold, as developer of the RESCO Project.

As an ISO 9001:2015 certified company, it is not only installing solar plants but also providing innovative solutions to optimize its production output. It also provides the maintenance services that make sure its solar investment continues to give high volumes of electricity units in the long run. Along with solar, it goes further in the field of manufacturing of LED lighting applications. Being a credible manufacturer and provider of indoor and outdoor LED lights, it incorporates technology for lighting up environments while still, embracing power conservation and environmental conservation as well. Its line of LED lights has established its dominance in industrial facilities, homes, and other places and provides a range of products to consumers who want to utilize an efficient and effective lighting system. There are three divisions in the company viz; Solar Segment, LED Segment and Export (primarily DK USA inc.). It also holds a Foreign Subsidiary Company DK USA Inc. established in 2010 as per the provision prevailing in United States of America. This DK USA Inc. is primarily engaged in the Departmental Stores, Convenience Store, Gas Station.

Business area of the company

The company is engaged in the manufacturing of LED Products, Solar Power Generation System and Power products. It is specialized in providing solar energy solutions to industrial and commercial customers. It offers low carbon energy solutions by installing on-site solar projects such as rooftop and ground-mounted systems. 

Products and servies of the company

Solar Segment

  • EPC
  • Rooftop Systems (On-Grid)
  • Solar Rooftop Systems (Hybrid)
  • PV Module
  • Grid Tied Inverter
  • Module Mounting Structure / Trackers
  • Switchyard with Important Equipment

LED Segment

  • LED Bulb
  • COB LED Down Light
  • LED Batten
  • LED Panel Light
  • LED Street Light
  • LED Flood Light
  • LED corrosion proof fixture
  • T-8 LED Tube
  • LED Clean Room Luminaries
  • Solar Street Light (All in One)
  • Solar Home Lighting
  • Solar LED Lantern 

Awards and recognitions

  • 2013: Awarded by Best MSME Award for ‘Quality & Environment improvement Measures’ from Government of Gujarat Industries & Mines Department 
  • 2014: Again, awarded MSME award for outstanding performance in ‘Quality & Environment Improvement Measures’ from Government of Gujarat Industries & Mines Department 
  • 2015: MSME Award for outstanding performance in ‘Quality & Environment Improvement Measures’ from Government of Gujarat Industries & Mines Department 
  • 2017: The company has received outstanding achievement award for manufacturing and customer satisfaction in 2017 on the occasion of National Seminar on ‘National Economic Development & Social Responsibility’
  • 2023: The company has received leadership excellence award from Gujarat Annual Solar Awards in 2023

History and milestones

  • 1999: Founded ‘GRE Electronics’ as a partnership firm 
  • 1999: Launched CFL- Energy saving product. 
  • 2008: Conversion of the partnership firm - GRE Electronics in to a private limited company under part IX of the Companies Act, 1956 in the name of GRE electronics Pvt. Ltd. 
  • 2011: Started ‘D K USA Inc.’ in USA. A wholly-owned subsidiary of GRE Electronics Pvt.Ltd.
  • 2012: Entered in LED lightings manufacturing business 
  • 2017-18: Diversified into solar projects. The main focus of the company shifted to solar business 
  • 2023: The company name changed from GRE Electronics Private Limited to GRE Renew Enertech Private Limited 
  • 2024: Converted to Public Limited and consequently name of the company was changed to GRE Renew Enertech Limited. 
  • 2025: It has been awarded, pursuant to the Letter of Award dated 27 November 2025, the contract for the development and establishment of a 1,000 kW (AC) rooftop solar project in the National Capital Territory of Delhi in the Rashtrapati Bhawan, President’s estate.

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