Transcript of the Earnings Conference Call with Investor/Analysts-Pertaining to the Financial Results and operations of the Company for the half year and year ended on March 31, 2025
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Solarium Green Energy reported FY25 revenue of INR 230.08 crores, up 29.7% from INR 177 crores in FY24. FY25 EBITDA was INR 26.9 crores (up 9.3%) with EPS rising to INR 11.65 from INR 10.49. H2 FY25 saw strong momentum with revenue of INR 148.08 crores (up 81% over H1) and PAT of INR 11.6 crores. The company ended FY25 with an unexecuted order book of INR 120 crores, INR 243 crores in L1 positions (mostly PSU/NTPV tenders), INR 44 crores in tender results awaited, and INR 450+ crores bid in April 2025 alone. Residential rooftop contributes 37% of revenue and has grown from INR 5 crores/month to INR 10 crores/month. Management guided to an overall EBITDA margin range of 11-13% going forward and plans to deploy unused IPO funds into working capital rather than expansion.
Strong topline growth and a healthy order pipeline (~INR 363 crores visible) provide solid revenue visibility for FY26, but margin expansion appears limited as management has anchored expectations to 11-13% EBITDA. Receivables have spiked due to March-end revenue concentration of INR 56 crores, which investors should monitor closely.