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Ujaas Energy Overview

Ujaas Energy Limited, previously known as M and B Switchgears Limited, is a distinguished company in the Indian solar power sector. Founded in 1979 and headquartered in Indore, India, Ujaas Energy specializes in the generation of solar power through its operations divided into three segments: transformer manufacturing, solar power plant operation, and the manufacturing and sale of solar power systems. Ujaas Energy’s commitment to sustainability is evident in its contributions to India’s First Solar-Powered Island and its involveme...Read More

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Ujaas Energy Key Financials

Market Cap ₹2109 Cr.

Stock P/E 238.3

P/B 23.8

Current Price ₹158.1

Book Value ₹ 6.6

Face Value 1

52W High ₹225.2

Dividend Yield 0%

52W Low ₹ 86.7

Ujaas Energy Share Price

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Volume
Price

Ujaas Energy Quarterly Price

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Ujaas Energy Peer Comparison

Ujaas Energy Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 6 7 6 5 8 8 3 5 3 6
Other Income 0 25 4 2 4 -2 7 1 1 1
Total Income 6 32 11 6 12 5 9 5 4 7
Total Expenditure 7 5 6 5 5 7 6 4 4 6
Operating Profit -0 27 5 1 7 -2 3 1 0 1
Interest 1 0 0 0 0 0 0 0 0 0
Depreciation 2 2 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 19 -29 0 0 0 0 0 0 0 0
Profit Before Tax 16 -4 5 1 7 -2 3 1 0 1
Provision for Tax -30 0 1 0 3 -2 1 1 0 0
Profit After Tax 45 -4 4 1 4 0 2 0 0 0
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 45 -4 4 1 4 0 2 0 0 0
Adjusted Earnings Per Share 4.3 -0.4 0.4 0.1 0.4 0 0.2 0 0 0

Ujaas Energy Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 111 277 486 334 156 51 35 45 30 27 27 17
Other Income 2 2 4 3 6 4 2 2 1 26 7 10
Total Income 113 279 491 337 162 55 37 46 31 53 34 25
Total Expenditure 68 213 415 293 136 59 55 47 27 27 23 20
Operating Profit 45 66 76 44 26 -5 -18 -1 4 26 12 5
Interest 19 17 20 17 17 14 16 14 16 10 0 0
Depreciation 8 8 8 8 8 8 8 7 7 8 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 -88 0 -10 0 0
Profit Before Tax 18 41 48 19 1 -26 -42 -110 -20 -2 11 5
Provision for Tax 7 21 12 2 -5 -13 -12 -0 -2 -30 2 2
Profit After Tax 12 21 36 17 7 -13 -30 -110 -18 29 9 2
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 12 21 36 17 7 -13 -30 -110 -18 29 9 2
Adjusted Earnings Per Share 0.6 1 1.8 0.9 0.3 -0.7 -1.5 -5.5 -0.9 2.7 0.8 0.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 0% -16% -12% -13%
Operating Profit CAGR -54% 0% 0% -12%
PAT CAGR -69% 0% 0% -3%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -4% 518% 187% 36%
ROE Average 10% 7% -17% -4%
ROCE Average 10% 5% -7% 3%

Ujaas Energy Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 173 192 199 215 222 208 178 68 50 89 85
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 99 89 78 68 58 52 0 0 0 0 0
Other Non-Current Liabilities 41 53 51 44 38 33 20 20 18 -12 -10
Total Current Liabilities 82 196 201 224 116 55 118 219 235 21 27
Total Liabilities 395 530 529 551 433 348 316 307 303 98 102
Fixed Assets 183 176 180 174 165 156 149 141 134 29 30
Other Non-Current Assets 4 7 20 13 10 18 20 27 33 11 6
Total Current Assets 208 348 329 363 258 174 147 139 136 57 66
Total Assets 395 530 529 551 433 348 316 307 303 98 102

Ujaas Energy Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 29 13 16 16 7 1 3 2 7 2 2
Cash Flow from Operating Activities -7 104 -16 -34 -17 43 1 7 -0 122 3
Cash Flow from Investing Activities 35 -77 22 22 25 15 -1 -1 -4 -1 -7
Cash Flow from Financing Activities -44 -25 -5 3 -14 -55 -1 -1 -1 -121 5
Net Cash Inflow / Outflow -16 2 1 -9 -6 2 -2 5 -5 -0 1
Closing Cash & Cash Equivalent 13 16 16 7 1 3 2 7 2 2 0

Ujaas Energy Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.59 1.04 1.8 0.85 0.33 -0.67 -1.52 -5.48 -0.9 2.75 0.83
CEPS(Rs) 0.99 1.44 2.2 1.26 0.74 -0.27 -1.14 -5.11 -0.54 3.46 0.88
DPS(Rs) 0.05 0.08 0.05 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 8.66 9.62 9.94 10.74 11.08 10.4 8.87 3.39 2.48 8.46 8.02
Core EBITDA Margin(%) 38.7 23.05 14.7 12.2 13.12 -16.25 -57.51 -4.93 9.14 -0.19 16.42
EBIT Margin(%) 33.41 21.02 13.91 10.71 11.51 -24.6 -73.77 -214.91 -11.01 33.42 42.12
Pre Tax Margin(%) 16.49 14.92 9.87 5.54 0.75 -51.89 -120.26 -246.02 -64.98 -5.77 40.96
PAT Margin (%) 10.52 7.52 7.39 5.09 4.24 -26.24 -86.71 -245.59 -59.88 108.34 32.86
Cash Profit Margin (%) 17.76 10.4 9.07 7.55 9.54 -10.69 -65.22 -229.03 -36.01 136.52 34.7
ROA(%) 2.59 4.51 6.79 3.15 1.34 -3.42 -9.17 -35.22 -5.92 14.45 8.84
ROE(%) 6.99 11.42 18.38 8.23 3.03 -6.21 -15.78 -89.32 -30.69 41.71 10.14
ROCE(%) 12.91 20.15 22.12 10.7 5.02 -3.76 -8.73 -41.55 -2.02 6.79 10.45
Receivable days 424.25 131.27 115.3 204.48 395.96 910.28 983.55 686.87 989.35 761.19 342.96
Inventory Days 173.31 95.68 47.61 78.03 177.99 348.14 385.28 274.55 427.8 302.9 148.66
Payable days 659.9 149.81 124.21 186.22 243.16 244.91 80.02 67 127.1 72.67 63.75
PER(x) 28.88 21.69 18.79 17.87 19.13 0 0 0 0 0 470.12
Price/Book(x) 1.96 2.35 3.4 1.41 0.57 0.23 0.28 1.23 0.71 0 48.67
Dividend Yield(%) 0.3 0.33 0.15 0 0 0 0 0 0 0 0
EV/Net Sales(x) 3.9 1.76 1.55 1.2 1.62 2.65 4.38 4.05 4.61 0.9 155.28
EV/Core EBITDA(x) 9.55 7.36 9.97 9.14 9.65 -29.23 -8.39 -292.09 35.84 0.92 353.17
Net Sales Growth(%) -78.86 149.44 75.5 -31.29 -53.32 -67.38 -31.03 27.29 -32.49 -11.38 0.78
EBIT Growth(%) -61.33 56.52 15.93 -47.07 -49.85 -169.72 -106.8 -270.84 96.54 368.92 27.04
PAT Growth(%) -68.61 77.91 72.05 -52.67 -61.15 -302.06 -127.9 -260.5 83.54 260.36 -69.43
EPS Growth(%) -68.6 77.9 72.04 -52.67 -61.15 -302.03 -127.63 -260.5 83.54 405.03 -69.82
Debt/Equity(x) 0.63 0.54 0.59 0.64 0.64 0.46 0.63 1.55 2.13 0.21 0.28
Current Ratio(x) 2.54 1.77 1.64 1.62 2.23 3.19 1.24 0.63 0.58 2.71 2.47
Quick Ratio(x) 1.76 1.35 1.41 1.19 1.76 2.4 0.98 0.47 0.43 2.26 2
Interest Cover(x) 1.97 3.44 3.45 2.07 1.07 -0.9 -1.59 -6.91 -0.2 0.85 36.19
Total Debt/Mcap(x) 0.32 0.23 0.17 0.46 1.11 2 2.23 1.25 3 0 0.01

Ujaas Energy Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 0.01 94.97 94.97 93.79 93.79 93.79 89.98 89.98 74.96 74.96
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 99.99 5.03 5.03 6.21 6.21 6.21 10.02 10.02 25.04 25.04
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Ujaas Energy News

Ujaas Energy Pros & Cons

Pros

  • Debtor days have improved from 72.67 to 63.75days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 7% over the last 3 years.
  • Stock is trading at 23.8 times its book value.
  • Earnings include an other income of Rs. 7 Cr.
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