BSE: 543941 | NSE: | IT - Software | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Ahasolar Technologies Ltd is a below average quality company.
The key valuation ratios of Ahasolar Technologies Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Ahasolar Technologies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| ROCE % ⓘ | 9.4% | 37% | 108.3% | 59.1% | 0.6% | - |
| Value Creation Index ⓘ | -0.3 | 1.7 | 6.7 | 3.2 | -1.0 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||
| Sales ⓘ | 1.3 | 1.9 | 17.1 | 20.9 | 41.9 | 42 |
| Sales YoY Gr. | - | 45.7% | 811.2% | 21.8% | 100.9% | - |
| Adj EPS ⓘ | 0.1 | 0.5 | 4.3 | 7.1 | 0.1 | 0.1 |
| YoY Gr. | - | 276.9% | 773.5% | 64.7% | -98% | - |
| BVPS (₹) ⓘ | 0.1 | 0.6 | 4.9 | 17.6 | 51 | 51 |
| Adj Net Profit ⓘ | 0 | 0.1 | 0.7 | 1.6 | 0 | 0 |
| Cash Flow from Ops. ⓘ | -0.2 | 0.1 | 0.3 | -0.3 | -1.4 | - |
| Debt/CF from Ops. ⓘ | -1.2 | 2.3 | 1.8 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 181.5% | 100.9% | ||||
| Adj EPS ⓘ | NA | NA | -34.1% | -98% | ||||
| BVPSⓘ | NA | NA | 332.7% | 189.6% | ||||
| Share Price | - | - | - | -23.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 96.5 | 129.3 | 154.6 | 66.8 | 0.4 | 0.3 |
| Op. Profit Mgn % ⓘ | 1.9 | 6 | 5.5 | 8.6 | -0.6 | NAN |
| Net Profit Mgn % ⓘ | 1.6 | 4.2 | 4 | 7.7 | 0.1 | 0.1 |
| Debt to Equity ⓘ | 10.7 | 2.4 | 0.7 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 202 | 25 | 48 | 66 | 0 |
| Cash Conv. Cycle ⓘ | 0 | -449 | 9 | 31 | 30 | 0 |
Sales growth is growing at healthy rate in last 3 years 181.46%
Return on Equity has declined versus last 3 years average to 0.30%
Net Profit has been subdued in last 3 years -34.14%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.1 | - |
| TTM Sales (₹ Cr.) | 41.9 | - |
| BVPS (₹.) ⓘ | 51 | - |
| Reserves (₹ Cr.) ⓘ | 13 | - |
| P/BV ⓘ | 4.76 | - |
| PE ⓘ | 0.00 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 220.00 / 657.75 |
| All Time Low / High (₹) | 203.00 / 657.75 |
| Market Cap (₹ Cr.) | 74.9 |
| Equity (₹ Cr.) | 3.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 36 |
| Pledged * | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Sales | 1.29 | 1.88 | 17.13 | 20.87 | 41.92 |
| Operating Expenses ⓘ | 1.26 | 1.76 | 16.19 | 19.08 | 42.17 |
| Manufacturing Costs | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 |
| Material Costs | -0.10 | 0.11 | 14.53 | 15.61 | 35.57 |
| Employee Cost | 0.23 | 0.38 | 0.66 | 1.99 | 3.83 |
| Other Costs ⓘ | 1.12 | 1.27 | 0.98 | 1.46 | 2.74 |
| Operating Profit ⓘ | 0.02 | 0.11 | 0.94 | 1.79 | -0.25 |
| Operating Profit Margin (%) | 1.9% | 6.0% | 5.5% | 8.6% | -0.6% |
| Other Income ⓘ | 0 | 0 | 0.01 | 0.01 | 0.61 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0.01 |
| Depreciation ⓘ | 0 | 0 | 0.03 | 0.21 | 0.30 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0.02 | 0.11 | 0.93 | 1.58 | 0.06 |
| Tax ⓘ | 0 | 0.03 | 0.24 | -0.02 | 0.01 |
| Profit After Tax | 0.02 | 0.08 | 0.69 | 1.60 | 0.04 |
| PAT Margin (%) | 1.6% | 4.2% | 4.0% | 7.7% | 0.1% |
| Adjusted EPS (₹) | 0.1 | 0.5 | 4.3 | 7.1 | 0.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 0.02 | 0.10 | 0.79 | 3.99 | 15.73 | |||||
| Share Capital ⓘ | 0.01 | 0.01 | 0.01 | 2.26 | 3.08 | |||||
| Reserves ⓘ | 0.01 | 0.09 | 0.78 | 1.72 | 12.64 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | |||||
| Debt | 0.23 | 0.24 | 0.58 | 0 | 0 | |||||
| Long Term Debt | 0.23 | 0.24 | 0.58 | 0 | 0 | |||||
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | |||||
| Trade Payables | 1.04 | 0.29 | 0.39 | 0.14 | 0.23 | |||||
| Others Liabilities ⓘ | 0.10 | 0.22 | 0.62 | 1.07 | 1.35 | |||||
| Total Liabilities ⓘ | 1.39 | 0.85 | 2.37 | 5.19 | 17.32 | |||||
Fixed Assets | ||||||||||
| Gross Block | 0.02 | 0.03 | 0.57 | 1.02 | 1.50 | |||||
| Accumulated Depreciation | 0 | 0.01 | 0.03 | 0.25 | 0.54 | |||||
| Net Fixed Assetsⓘ | 0.02 | 0.02 | 0.54 | 0.78 | 0.96 | |||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0.96 | |||||
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | |||||
| Inventories | 0.11 | 0 | 0 | 0 | 0.02 | |||||
| Trade Receivables | 0.35 | 0.21 | 1.37 | 2.82 | 4.51 | |||||
| Cash Equivalents | 0 | 0.12 | 0.23 | 0.48 | 4.23 | |||||
| Others Assetsⓘ | 0.90 | 0.51 | 0.23 | 1.11 | 6.63 | |||||
| Total Assets ⓘ | 1.39 | 0.85 | 2.37 | 5.19 | 17.32 | |||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -0.20 | 0.10 | 0.32 | -0.27 | -1.42 |
| PBT ⓘ | 0.02 | 0.08 | 0.69 | 1.58 | 0.06 |
| Adjustment ⓘ | 0 | 0 | 0.03 | 0.21 | -0.16 |
| Changes in Working Capital ⓘ | -0.22 | 0.02 | -0.39 | -1.58 | -1.1 |
| Tax Paid ⓘ | 0 | 0 | 0 | -0.47 | -0.22 |
| Cash Flow From Investing Activity ⓘ | -0.02 | -0.01 | -0.54 | -0.44 | -7.77 |
| Capex | -0.02 | -0.01 | -0.54 | -0.45 | -1.44 |
| Net Investments | 0 | 0 | 0 | 0 | -6.48 |
| Others ⓘ | 0 | 0 | 0 | 0.01 | 0.16 |
| Cash Flow From Financing Activityⓘ | 0.22 | 0.01 | 0.34 | 0.92 | 11.69 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 1.50 | 11.70 |
| Net Proceeds from Borrowing ⓘ | 0.22 | 0.01 | 0.34 | -0.58 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | -0.01 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 0 | 0.11 | 0.12 | 0.21 | 2.50 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 95.83 | 129.25 | 154.59 | 66.89 | 0.43 | |||||
| ROCE (%) | 9.44 | 37.03 | 108.32 | 59.13 | 0.64 | |||||
| Asset Turnover Ratio | 0.93 | 1.67 | 10.61 | 5.52 | 3.72 | |||||
| PAT to CFO Conversion(x) | -10 | 1.25 | 0.46 | -0.17 | -35.5 | Working Capital Days | ||||
| Receivable Days | 98 | 54 | 17 | 37 | 32 | |||||
| Inventory Days | 32 | 0 | 0 | 0 | 0 | |||||
| Payable Days | -3,912 | 2,153 | 8 | 6 | 2 | |||||
The company was originally incorporated as “Ahasolar Private Limited” as a Private Limited Company under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated July 28, 2017, issued by the Registrar of Companies, Central Registration Centre. Pursuant to a special resolution passed by the company’s Shareholders in the Extra-Ordinary General Meeting held on December 15, 2022, the name of the company was changed to “Ahasolar Technologies Private Limited” and a fresh certificate of incorporation dated December 22, 2022 was issued to the company by the Registrar of Companies, Ahmedabad. Subsequently, pursuant to a special resolution passed by its Shareholders in the ExtraOrdinary General Meeting held on December 26, 2022, the company was converted from a private limited company to public limited company and consequently, the name of the Company was changed to “Ahasolar Technologies Limited” and a fresh certificate of incorporation dated January 06, 2023 was issued to the Company by the Registrar of Companies, Ahmedabad.
The company is engaged in the business of CleanTech enabling Energy Transition through Digital Transformation and henceforth empowering stakeholders to adopt renewable energy. The company does this through multiple digital solutions and advisory in the field of renewable energy. The company is a DPIIT recognised startup and registered vide registration no. DIPP34701. The core idea of AHAsolar to work in the space of Climate Change, Renewable and Digital space. The company’s primary focus in renewable energy has been in solar industry and to cater it it developed an AI based intelligent Solar Digital Platform. It has developed Software as a Service (SaaS) productsfor solar companies to streamline the processes, design PV, do project management and monitor generation along-with an integrated Marketplace to connect the demand & supply digitally. Apart from this, another SaaS product is for the governments to implement the distributed renewable programme in their services area. Since the company’s inception, it has been working with multiple national, internaltional, government and private companies in enabling them to accelerate the adoption of solar through its solutions. In terms of software sales it is providing its services to Solar companies, Original Equipment Manufacturers and the governments and in terms of advisory it has been rendering its services to Solar EPC Companies and Corporate Consultancy Firms on Solar Project Management and Solar Plant Audits.
The company has two SaaS products namely; For Government Agencies: AHAsolar Unified Portal; and For Solar Companies: AHAsolar Helper and Sun Analyzer. The company has developed the Unified Single Window Solar Portal (the Portal or AHAsolar Unified Portals) for multiple states nodal agencies like Gujarat Energy Development Agency (GEDA), Gujarat Urja Vikas Nigam (GUVNL), Goa Energy Development Agency (Goa EDA), Jammu & Kashmir Energy Development Agency (JAKEDA), etc. The second SaaS product i.e., AHAsolar Helper. It is a one stop solution for the Solar EPC Company and offers convenience to manage the Projects with completely integrated software solution of CRM, ERP, Design, Project and Team Management. It is designed for Solar EPC Companies who want to keep their Sales & Operation in order using AI to standardize, connect and automate solar and renewable operations, project management, designing and procurement. This helps the Solar EPC companies to manage their work properly and efficiently.
Business area of the company
Incorporated in 2017, Ahasolar Technologies is engaged in the business of CleanTech enabling Energy Transition through Digital Transformation and henceforth empowering stakeholders to adopt renewable energy.
Major events
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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