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Ujaas Energy

UEL NSE
₹184.71 No trade today
P/E
659.68
View as Markdown
MCP
Close 4 Nov 2026 ₹184.71 +58.63 +46.5% 1Y
Start ₹126.08

Key Fundamentals

MicrocapPowerUtilities

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
3.89%
Debt to Equity
0.27
EPS (TTM)
₹0.28
Book Value
₹7.09
Market Cap
—
P/E (TTM)
659.68
P/B
26.05
ROE
3.12%
Dividend Yield
0.00%
EBITDA
₹43.60 Cr
52W High
₹284.20
52W Low
₹110.13
Volume
0

Peer Comparison

Utilities › Power › Power Generation

Ujaas Energy peer comparison
NTPC
₹321.9510.50₹3,09,905 Cr1.460.93%15.10%8.92%₹2,00,543 Cr₹30,459 Cr
Adani Green
₹1,388.00121.97₹2,25,153 Cr10.590.00%11.40%7.39%₹14,809 Cr₹2,249 Cr
JSW Energy
₹511.0045.99₹92,288 Cr2.550.40%7.51%8.16%₹18,965 Cr₹2,460 Cr
NHPC
₹78.4920.76₹80,260 Cr1.902.03%9.32%5.75%₹12,210 Cr₹4,267 Cr
NTPC Green Energy
₹83.51117.62₹69,433 Cr3.630.00%2.79%3.56%₹3,285 Cr₹605 Cr
NLC India
₹247.6810.70₹32,822 Cr1.601.67%11.90%8.42%₹18,381 Cr₹3,366 Cr
ACME Solar Holdings
₹421.0044.74₹29,572 Cr3.560.05%10.40%8.91%₹2,370 Cr₹602 Cr
Ujaas Energy (this company)
₹184.71659.68₹6,119 Cr26.050.00%3.12%3.89%₹17 Cr₹4 Cr
Median 8 companies₹284.8245.37₹74,846 Cr3.050.23%9.86%7.78%₹13,510 Cr₹2,355 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

45 Average

Data confidence 100/100

Category scores

Quality
35
Poor
Returns, margins, earnings quality 22% weight
Valuation
22
Poor
Cheap vs sector & own history 24% weight
Growth
9
Poor
Sales & profit trajectory 9% weight
Financial Health
86
Strong
Solvency, leverage, coverage 9% weight
Momentum
84
Strong
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

7
  • Stock is trading at 29.8 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of -13.9% over past five years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.10.0 Cr.
  • Company has high debtors of 487 days.
  • Working capital days have increased from 411 days to 630 days

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallNeutral676
OscillatorsNeutral171
Moving AveragesNeutral505

Key readings

RSI (14)
48.00
Neutral
MACD (12,26,9)
−1.85
Bullish
SMA (50)
193.10
Bearish
SMA (200)
165.44
Bullish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y−24.52%
5Y−13.86%
3Y−17.98%
1Y−38.23%
TTM−26.92%

Net profit

Net profit growth by window
10Y−17.21%
5YTurned to profit
3YTurned to profit
1Y−64.29%
TTM−47.74%

Operating cash flow

Operating cash flow growth by window
10Y−27.13%
5Y+36.33%
3YTurned positive
1Y+57.55%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−46.59 pp
5Y+34.01 pp
3Y−32.68 pp
1Y−39.91 pp
TTM−23.10 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹486 Cr
Mar 2018₹334 Cr
Mar 2019₹156 Cr
Mar 2020₹50.88 Cr
Mar 2021₹35.09 Cr
Mar 2022₹44.67 Cr
Mar 2023₹30.16 Cr
Mar 2024₹26.73 Cr
Mar 2025₹26.94 Cr
Mar 2026₹16.64 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹35.93 Cr
Mar 2018₹17.01 Cr
Mar 2019₹6.61 Cr
Mar 2020−₹13.35 Cr
Mar 2021−₹30.43 Cr
Mar 2022−₹110 Cr
Mar 2023−₹18.06 Cr
Mar 2024₹28.96 Cr
Mar 2025₹8.85 Cr
Mar 2026₹3.16 Cr

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Ujaas Energy Ltd trades at a market cap of Rs.4,330 Cr with a PE of 546.9x and PB of 19.75x, reflecting extreme premium valuations despite a TTM sales decline of -38% and profit decline of -68%. The stock has delivered a 3-year CAGR of 378% driven by sentiment rather than fundamental improvement, while operational metrics such as 487-day debtors and 630-day working capital cycle indicate significant stress.

Bull Case 7
  • Stock has delivered a remarkable 3-year CAGR of 378%, indicating strong market momentum and investor interest in the renewable energy theme
  • Compounded profit growth of 29% over 3 years shows the company turned around from losses to profitability in the medium term
  • 5-year compounded profit growth of 16% demonstrates a sustained, albeit modest, earnings recovery trajectory
  • 3-year ROE averaged 20%, suggesting reasonable capital efficiency during that period relative to the longer-term average of 2%
  • The company operates in the solar energy/utilities sector which benefits from India's target of 500 GW renewable capacity by 2030 and supportive government policies
  • 10-year stock CAGR of 24% indicates long-term wealth creation for patient shareholders despite underlying business volatility
  • 1-year stock CAGR of 26% shows continued positive price momentum even in the recent period
Bear Case 8
  • PE ratio of 546.9x is extraordinarily elevated, implying the stock is pricing in massive future growth that current financials do not support
  • TTM sales declined -38% and 5-year compounded sales growth is -14%, showing a persistent revenue shrinkage problem
  • Debtor days stand at 487 days, indicating severe collection issues and potential credit risk in receivables
  • Working capital days have ballooned from 411 to 630 days, signaling acute liquidity stress and inefficient capital deployment
  • Stock trades at 19.75x book value despite last year ROE of just 3%, meaning investors pay a massive premium for very low returns on equity
  • TTM profit declined -68%, showing sharp earnings deterioration in the most recent period
  • Zero dividend yield despite reporting profits suggests either cash flow constraints or aggressive capital retention with uncertain reinvestment returns
  • Other income of Rs.9.38 Cr forms part of earnings, raising concerns about core operating profit quality, and the company may be capitalizing interest costs

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Ujaas Energy faces a sharp deterioration in profitability with a 64% drop in FY26 net profit and declining revenues, raising concerns about operational execution. The board's approval of ₹1,000 crore borrowing signals ambition to scale but adds leverage risk given weak earnings. The trend is deteriorating on fundamentals, and investors should watch whether the fresh capital deployment translates into revenue recovery in FY27.

Headwinds 1
  • FY26 net profit drops 64% Jun 22

    Ujaas Energy reported a 64% decline in net profit to INR 316.26 lakh for FY26, with revenue dropping to INR 1,663.85 lakh, signaling significant deterioration in financial performance.

Positives 1
  • ₹1,000 crore borrowing approved Jun 22

    Board approved borrowing up to ₹1,000 Crores, potentially enabling large-scale capacity expansion or project financing for the solar energy company.

Neutral 2
  • Board meeting and AGM planning Jun 16

    Board scheduled a meeting on June 22, 2026 to consider the 27th AGM and approve the Board's Report.

  • Key director reappointments Jun 22

    Board reappointed key directors including Mrs. Geeta Mundra as Chairman, subject to shareholder approval at the upcoming AGM.

Quarterly Results

₹ Cr
UEL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
7.18
6.86
5.84
6.84
6.29
4.7
8.17
7.77
2.65
4.86
3.49
5.64
3.03
5.19
Expenses
7.51
7.71
6.57
4.97
5.75
4.86
4.76
7.15
5.89
4.33
4.15
6.19
5.82
4.13
Operating Profit
−0.33
−0.85
−0.73
1.87
0.54
−0.16
3.41
0.62
−3.24
0.53
−0.66
−0.55
−2.79
1.06
OPM %
−4.6%
−12.39%
−12.5%
27.34%
8.59%
−3.4%
41.74%
7.98%
−122.26%
10.91%
−18.91%
−9.75%
−92.08%
20.42%
Other Income
0.3
0.31
19.66
−3.77
4.43
1.6
3.71
−2.32
6.56
0.55
1
1.27
7.19
2.68
Interest
4.53
4.62
1.3
0.02
0.02
0.11
0.1
0.07
0.05
0
0.02
0.08
0.02
0.02
Depreciation
1.79
1.8
1.8
2.14
0.12
0.13
0.13
0.12
0.1
0.14
0.12
0.12
0.12
0.12
PBT
−6.35
−6.96
15.83
−4.06
4.83
1.2
6.89
−1.89
3.17
0.93
0.2
0.52
4.26
3.6
Tax %
−7.56%
−6.75%
−187.18%
2.22%
21.12%
34.17%
42.96%
−115.87%
21.45%
89.36%
20%
17.31%
23.71%
23.33%
Net Profit
−5.86
−6.5
45.45
−4.14
3.82
0.8
3.93
0.3
2.49
0.1
0.16
0.42
3.25
2.75
EPS (₹)
−0.05
−0.05
0.69
−0.06
0.06
0.01
0.07
0.01
0.07
0
0.01
0.03
0.24
—

Sep 2026: from the results filed on 30 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
UEL profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
111
277
486
334
156
50.88
35.09
44.67
30.16
26.73
26.94
16.64
17.02
Expenses
67.91
213
415
293
136
59.14
55.27
46.86
27.39
26.79
22.52
20.55
20.49
Operating Profit
43.19
63.99
71.49
40.75
20.47
−8.26
−20.18
−2.19
2.77
−0.06
4.42
−3.91
−3.47
OPM %
38.87%
23.09%
14.7%
12.19%
13.12%
−16.23%
−57.51%
−4.9%
9.18%
−0.22%
16.41%
−23.5%
−20.39%
Other Income
2.17
2.35
4.33
3.27
5.77
3.66
1.84
−86.41
1.11
16.52
7.42
9.38
10.01
Interest
18.88
16.95
19.63
17.29
16.78
13.89
16.32
13.9
16.28
10.47
0.31
0.15
0.12
Depreciation
8.08
7.99
8.17
8.22
8.28
7.91
7.54
7.4
7.2
7.53
0.5
0.48
0.5
PBT
18.4
41.4
48.02
18.51
1.18
−26.4
−42.2
−110
−19.6
−1.54
11.03
4.83
5.92
Tax %
36.2%
49.57%
25.18%
8.1%
−461.02%
−49.43%
−27.89%
−0.17%
−7.86%
−1980.52%
19.76%
34.58%
—
Net Profit
11.74
20.89
35.93
17.01
6.61
−13.35
−30.43
−110
−18.06
28.96
8.85
3.16
3.93
EPS (₹)
0.09
0.17
0.29
0.14
0.05
−0.11
−0.24
−0.87
−0.14
0.44
0.16
0.24
0.28
Div. Payout %
8.52%
7.18%
2.78%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
UEL balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
20
20
20
20
20
20
20.03
20.03
20.03
10.53
10.66
13.34
Reserves
153
172
179
195
202
188
158
47.96
29.69
78.61
74.82
75.33
Borrowings
110
104
117
138
141
95.66
111
105
106
18.51
24
24
Other Liabilities
80.16
196
213
197
70.95
44.23
26.89
134
147
2.95
3.24
4.43
Total Liabilities
363
492
529
551
433
348
316
307
303
111
113
117
Fixed Assets
183
176
180
174
165
156
149
141
134
29.45
29.7
29.24
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
Investments
2.14
26.28
28.6
2.9
2.54
0
0
0
0
11.26
12.54
13.56
Other Assets
178
289
320
374
266
192
167
166
169
69.89
70.48
74.3
Total Assets
363
492
529
551
433
348
316
307
303
111
113
117

Cash Flow

₹ Cr
UEL cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−6.71
104
−16.33
−34.21
−17.25
42.99
0.93
7.2
−0.47
122
2.78
4.38
Investing
34.72
−76.68
21.96
21.72
25.01
14.68
−1.33
−0.92
−3.68
−0.81
−9.32
−4.02
Financing
−43.52
−24.8
−4.85
3.07
−14.02
−55.29
−1.11
−0.84
−0.68
−121
5.19
−0.15
Net Cash Flow
−15.51
2.21
0.78
−9.42
−6.27
2.39
−1.51
5.43
−4.83
−0.4
−1.35
0.2
Free Cash Flow
−7.12
103
−18.46
−36.1
−16.61
43.34
0.93
7.2
−0.52
122
2.05
4.68
CFO/OP
24
172
−8
−56
−82
−538
13
−321
−27
−2,02,883
65
−113

Ratios

UEL financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
271
154
143
201
360
716
930
643
1,026
365
324
487
Inventory Days
474
154
43.62
141
175
684
420
560
—
—
—
—
Days Payable
256
235
127
183
74.34
122
57.66
66.82
—
—
—
—
Cash Conversion Cycle
489
73.44
58.84
159
461
1,277
1,292
1,137
1,026
365
324
487
Working Capital Days
356
74.5
47.63
109
299
793
224
−724
−1,223
269
333
630
ROCE %
12.9%
20%
21.79%
10.56%
4.97%
−3.77%
−8.73%
−3.47%
−2.01%
14.04%
9.98%
3.89%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Ujaas Energy insights

63 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 74.96%
  • Others 23.79%
  • Public 1.25%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

  • Q4 FY18 concall · May 2018
    PPT
  • Q4 FY18 concall · May 2018
    PPT
  • Q3 FY18 concall · Feb 2018
    PPT
  • Concall · Nov 2017
    PPT
  • Concall · Sep 2017
    PPT

Frequently Asked Questions about Ujaas Energy

What does Ujaas Energy Ltd do?
Incorporated in 1999, Ujaas Energy Ltd is engaged in generation of solar power and manufacturing, sales and services of solar power plants/projects and manufacturing and sales of Electric Vehicle
Where is Ujaas Energy Ltd (UEL) listed?
Ujaas Energy Ltd trades as UEL on the NSE and under code 533644 on the BSE.
Which sector does Ujaas Energy Ltd belong to?
Ujaas Energy Ltd is classified under the Power sector, in the Power Generation industry.
What is the PE ratio of Ujaas Energy Ltd?
Ujaas Energy Ltd trades at a PE ratio of 659.68 as of 4 Nov 2026, on earnings per share of ₹0.28, against a book value of ₹7.09 per share.
What is the 52-week high and low of Ujaas Energy Ltd?
Over the last 52 weeks Ujaas Energy Ltd has traded between ₹110.13 and ₹284.2 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Ujaas Energy Ltd?
Ujaas Energy Ltd reported a return on equity of 3.12%. Its debt-to-equity ratio is 0.27.

Company Information

Incorporated in 1999, Ujaas Energy Ltd is engaged in generation of solar power and manufacturing, sales and services of solar power plants/projects and manufacturing and sales of Electric Vehicle

Website ujaas.com
Listed 28 May 2024
Face Value ₹1

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