Sells solar PV modules to private domestic buyers and operates a 5 MW solar project in Jakasana, Gujarat. The company, formerly pharmaceutical-focused, is pivoting to renewable energy and has proposed renaming itself Regenova Renewtech Limited. FY26 revenue was Rs. 36.32 crore, up 91% year-on-year, with new solar activity reported at 77% of revenue. Solar PV module orders booked during FY26 include about Rs. 14.49 crore from Deon Energy for 16,129 modules of 620 WP, Rs. 3.49 crore from Earthwave Technology for 4,056 modules, Rs. 3.11 crore from Earthwave Technology for 3,645 modules, Rs. 1.21 crore from Perfect Renewtech for 1,355 modules, and Rs. 1.07 crore from Ottrive Lifestyle for 1,334 modules of 600 WP. Q1 FY27 revenue rose 414% year-on-year to Rs. 12.45 crore. The business operates as a single reportable segment with very low employee and other operating costs (Rs. 0.18 crore and Rs. 0.21 crore respectively in FY26) and heavy capex of Rs. 20.76 crore (57.2% of revenue) tied to the renewable-energy shift. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Solar PV modules and related trading (77%), Legacy / residual business (23%). Small, trading-heavy solar PV module seller pivoting from pharmaceuticals into renewable energy.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 6 | 19 | 36 |
| EBITDA (ex other income) | (0) | (0) | 0 | 1 | 2 |
| margin % | (200.4) | (217.0) | 0.8 | 5.6 | 6.4 |
| Owners' profit | 0 | 0 | 0 | 1 | 2 |
| EPS, as reported (₹) | 0.00 | 0.08 | 0.07 | 0.70 | 2.48 |
| ROE % · ROCE % | (0.3) · (0.7) | (4.9) · (14.6) | 1.0 · 1.2 | 10.2 · 12.5 | 15.3 · 21.2 |
| Debt / equity (x) | (0.84) | (0.73) | 0.00 | 0.00 | 0.00 |
| Cash from operations | (0) | 0 | (6) | (4) | 21 |
| Capex | 0 | 0 | 0 | 0 | (21) |
| ₹ crore | Q4 FY24 | Q1 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5 | 3 | 3 | 4 | 2 | 2 | 2 | 31 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| EPS (₹) | 0.03 | 0.08 | 0.14 | 0.05 | 0.05 | 0.05 | 0.03 | 2.24 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,41,471 | 36.5 | 5.26 | 23.7 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,47,033 | 84.6 | 14.74 | 63.7 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,68,062 | 79.3 | 9.56 | 41.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,11,686 | 24.9 | 3.78 | 14.5 | 17.3 | 18.0 | 12.4 | 25.2 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · New statutory auditor appointed, subject to member approval | management changes | medium | — | — |
| 7 Sept 2026 · Annual Report FY26: revenue nearly doubles, pivot to solar energy | investor communications | medium | — | — |
| 7 Sept 2026 · 35th AGM set for 29 September 2026 as profit rises | board shareholder meetings | low | — | — |
| 25 Aug 2026 · GIKL partners with UK Storenergy to explore energy storage in India | investor communications | low | — | — |
| 24 Aug 2026 · Partners with UK firm Storenergy for Thermal Energy Storage in India | strategic transactions | medium | — | — |
| 21 Aug 2026 · EGM approves company name change to Regenova Renewtech Limited | board shareholder meetings | medium | — | — |
| 19 Aug 2026 · EGM held - members to vote on name change to Regenova Renewtech Limited | board shareholder meetings | medium | — | — |
| 10 Aug 2026 · New CFO appointed at Gujarat Inject Kerala Ltd effective 10 Aug 2026 | management changes | high | — | — |
| 16 Jul 2026 · EGM on Aug 12 for name change to Regenova Renewtech | board shareholder meetings | low | — | — |
| 15 Jul 2026 · Q1 FY27 results, new MD appointed, name change to Regenova Renewtech | management changes | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| CIPLA LTD | 1,10,352 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| LAURUS LABS LIMITED | 1,06,375 | 97.2 | 19.59 | 59.3 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 97,319 | 30.1 | 2.55 | 13.1 | 10.9 | 13.0 | 12.1 | 15.0 |
| AUROBINDO PHARMA LTD | 96,656 | 26.3 | 2.55 | 13.4 | 9.2 | 12.6 | 6.3 | 23.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 4.3 | 28.9 | 7 of 169 | 95% |
| P/B | 1.3 | 3.3 | 31 of 163 | 82% |
| ROCE | 21.2 | 10.8 | 31 of 183 | 84% |
| ROE | 15.3 | 10.4 | 50 of 171 | 71% |
| Debt / Equity | 0.0 | 0.1 | 6 of 171 | 77% |
| EBITDA margin | 7.4 | 17.5 | 133 of 165 | 20% |
| Revenue growth | 624.5 | 16.3 | 1 of 161 | 100% |
| Profit growth | 2133.7 | 30.9 | 3 of 158 | 99% |
| Market cap | 15 | 839 | 171 of 182 | 6% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
