Juniper Green Energy
Juniper Green Energy
UtilitiesKey Fundamentals
MicrocapTapetide Score
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Key Insights
Strengths
1- Debtor days have improved from 140 to 96.1 days.
Weaknesses
3- Company has low interest coverage ratio.
- Company has a low return on equity of -0.22% over last 3 years.
- Earnings include an other income of Rs.222 Cr.
Growth Rate
AI Analysis — Bull vs Bear
Juniper Green Energy Ltd is a utilities-sector company with a market cap of ₹14,618 Cr trading at a PE of 364.5x. The company has demonstrated strong revenue growth (TTM sales growth of 86%, 3-year compounded sales CAGR of 136%) but profitability remains deeply negative with a TTM profit decline of -686% and a 3-year average ROE of -0.22%, indicating that top-line momentum has not yet translated into sustainable earnings.
- TTM revenue growth of 86% signals strong demand traction and expanding scale in the green energy space
- 3-year compounded sales CAGR of 136% demonstrates a sustained, multi-year top-line expansion trajectory
- 5-year compounded sales CAGR of 72% shows the revenue ramp is not a one-off event but a durable trend
- Debtor days improved from 140 to 96.1 days, reflecting better working capital management and faster receivable collections
- Market cap of ₹14,618 Cr reflects meaningful institutional and market interest in the company's growth story
- Operating in the green energy/utilities sector which benefits from India's policy tailwinds including renewable energy targets of 500 GW by 2030
- Other income of ₹222 Cr provides a supplementary cash flow cushion during the growth phase
- PE ratio of 364.5x is extremely elevated, pricing in significant future earnings growth that is yet to materialize
- TTM compounded profit growth of -686% indicates a sharp deterioration in bottom-line performance despite revenue growth
- 3-year average ROE of -0.22% shows the company is destroying shareholder value rather than generating returns on equity
- Low interest coverage ratio suggests debt servicing costs are consuming a large share of operating income, raising solvency concerns
- Zero dividend yield (0%) means shareholders receive no income return and are entirely dependent on capital appreciation
- Earnings quality is questionable as ₹222 Cr of other income forms a significant component, masking weaker core operating profitability
- Last year ROE of -1% shows profitability trends are worsening rather than improving on a trailing basis
- Price-to-book ratio of 2.82x implies the market is paying a notable premium over book value for a company with negative returns on equity
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- 230 MW FDRE-RTC project from SECI Aug 17
Secured LOA from SECI for 230 MW Firm Dispatchable RTC project in Rajasthan at ₹5.26/unit with a 25-year PPA. Adds 795 MWp solar, 75 MW wind, and 2,200 MWh BESS to the pipeline.
- ₹600 crore NCD redemption Aug 17
Successfully redeemed ₹600 crore of unlisted, unrated, redeemable NCDs on August 14, 2026, signaling strong balance sheet and liquidity management.
- 75 MW hybrid project commissioned Sep 10
Fully commissioned 75 MW wind-solar hybrid project in Maharashtra with MSEDCL PPA. Solar component came online 17 months ahead of schedule, securing 100% ISTS charge waiver.
- Rapid capacity ramp-up Sep 11
Operational capacity grew from ~2,408 MWp in early July to ~2,679 MWp by Sep 11, adding ~271 MW across multiple wind and hybrid projects in under 3 months.
- 12.40 MW wind capacity addition Aug 31
Commissioned 12.40 MW wind power via subsidiary, bringing that project's capacity to 177.6 MWp and group total to ~2,588 MWp.
- 10,000 MWh BESS target by Mar 2028 Aug 27
Disclosed phased battery storage goals: 4,500 MWh by June 2027 (Phase 1) and 10,000 MWh by March 2028 (Phase 2), up from current 500 MWh.
- Q1 FY27 earnings call held Aug 27
CEO Ankush Malik and CFO Parag Agrawal discussed Q1 FY27 results (quarter ended June 30, 2026) on August 27 at 11:00 am IST. Audio recording released.
TL;DR: Juniper Green Energy is in a strong execution phase, adding ~271 MW of operational capacity since July 2026 and securing a marquee 230 MW FDRE-RTC project with SECI at ₹5.26/unit on a 25-year PPA. The ₹600 crore NCD redemption and early project commissioning (17 months ahead of schedule) reflect solid financial and operational discipline. No material headwinds are visible in recent news, though the ambitious jump from 500 MWh to 10,000 MWh BESS by March 2028 will be a key execution risk to watch.
Quarterly Results
| Particulars | Jun 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|
| Sales | 67.8 | 113 | 114 |
| Expenses | 64.96 | 98.79 | 98.09 |
| Operating Profit | 2.84 | 13.88 | 15.54 |
| OPM % | 4.19% | 12.32% | 13.68% |
| Other Income | 55.15 | 60.26 | 51.28 |
| Interest | 32.54 | 48.13 | 51.22 |
| Depreciation | 3.29 | 4.01 | 5.55 |
| PBT | 22.16 | 22 | 10.05 |
| Tax % | 20.67% | 24.64% | 25.87% |
| Net Profit | 17.57 | 16.57 | 7.45 |
| EPS in Rs | 0.36 | 0.34 | 0.15 |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Sales | 21 | 25 | 25 | 28 | 174 | 324 |
| Expenses | 7 | 7 | 12 | 13 | 157 | 298 |
| Operating Profit | 14 | 18 | 13 | 15 | 17 | 26 |
| OPM % | 66% | 72% | 53% | 53% | 10% | 8% |
| Other Income | 30 | 11 | 8 | 37 | 123 | 222 |
| Interest | 11 | 12 | 12 | 10 | 73 | 151 |
| Depreciation | 6 | 7 | 7 | 7 | 8 | 16 |
| PBT | 27 | 10 | 2 | 35 | 59 | 80 |
| Tax % | 20% | 9% | 25% | 34% | 27% | 24% |
| Net Profit | 22 | 9 | 1 | 23 | 43 | 61 |
| EPS in Rs | 38.12 | 6.53 | 1.01 | 8.88 | 0.89 | 1.26 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 6 | 14 | 14 | 26 | 489 | 489 |
| Reserves | 297 | 752 | 754 | 1,682 | 2,854 | 2,939 |
| Borrowings | 117 | 117 | 113 | 107 | 1,201 | 2,265 |
| Other Liabilities | 7 | 4 | 4 | 14 | 92 | 303 |
| Total Liabilities | 426 | 887 | 884 | 1,828 | 4,636 | 5,996 |
| Fixed Assets | 148 | 146 | 140 | 138 | 267 | 472 |
| CWIP | 2 | 0 | 0 | 0 | 25 | 671 |
| Investments | 169 | 582 | 618 | 929 | 1,765 | 2,182 |
| Other Assets | 106 | 159 | 127 | 761 | 2,578 | 2,671 |
| Total Assets | 426 | 887 | 884 | 1,828 | 4,636 | 5,996 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | 8 | 19 | 11 | 2 | -78 | -154 |
| Investing | -99 | -459 | 7 | -891 | -2,276 | -456 |
| Financing | -11 | 442 | -17 | 891 | 2,485 | 694 |
| Net Cash Flow | -103 | 2 | 1 | 1 | 130 | 84 |
| Free Cash Flow | -6 | 16 | 10 | 0 | -150 | -614 |
| CFO/OP | 76 | 112 | 86 | 36 | -346 | -498 |
Ratios
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor Days | 76 | 63 | 64 | 119 | 205 | 96 |
| Cash Conversion Cycle | 76 | 63 | 64 | 119 | 205 | 96 |
| Working Capital Days | -814 | 244 | 626 | 1,970 | 1,382 | 313 |
| ROCE % | — | 3% | 2% | 2% | 3% | 3% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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0 extracted metrics + investor summaries across FY–FY.
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Company Information
Incorporated in 2011, Juniper Green Energy Limited is one of India's leading renewable energy independent power producers (IPPs), engaged in developing, building, operating, and maintaining utility-scale renewable energy projects.[1]
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