--- title: "Virescent Renewable Energy Trust (VIRESCENT) Financials & Shareholding" symbol: "VIRESCENT" company: "Virescent Renewable Energy Trust" canonical: "https://tapetide.com/stocks/VIRESCENT" generated_at: "2026-11-05T02:05:41.457Z" --- # Virescent Renewable Energy Trust (VIRESCENT) Canonical page: https://tapetide.com/stocks/VIRESCENT ## Key Facts - **Revenue, Jun 2023 quarter:** ₹150 Cr, against ₹149 Cr in Jun 2022 (+0.67% year on year) - **Net profit, Jun 2023 quarter:** ₹32 Cr, against ₹51 Cr in Jun 2022 ## Company - **In the F&O segment:** No ## Key Insights ### Strengths - Debtor days have improved from 711 to 81.3 days. ### Weaknesses - Company has low interest coverage ratio. - Company has a low return on equity of 2.18% over last 3 years. ## Growth Rate Growth computed from the financial statements below. A window with no rate gives the reason instead of a figure. Annual windows: The latest annual results are more than two years old, so no annual growth is shown. Trailing twelve months: The latest quarterly results are more than a year old. ## Financial Statements ### Quarterly Results Results for the period ended Sep 2023 were due by 14 Nov 2023 and are not in this table yet. Figures in ₹ crore unless the row name gives another unit. | Item | Mar 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Sales | 21 | 63 | 82 | 120 | 149 | 111 | 130 | 131 | 150 | | Expenses | 8 | 42 | 26 | 27 | 18 | 23 | 25 | 46 | 23 | | Operating Profit | 13 | 22 | 56 | 92 | 131 | 89 | 105 | 85 | 128 | | OPM % | 62% | 34% | 68% | 77% | 88% | 80% | 81% | 65% | 85% | | Other Income | 0 | 3 | 1 | 4 | 2 | 2 | 3 | 8 | 5 | | Interest | 16 | 46 | 38 | 22 | 32 | 35 | 36 | 44 | 35 | | Depreciation | 7 | 29 | 35 | 40 | 49 | 50 | 50 | 54 | 66 | | Profit before tax | -10 | -50 | -16 | 34 | 51 | 6 | 22 | -5 | 32 | | Tax % | 0% | 0% | -21% | -11% | 0% | 36% | 7% | -9% | -1% | | Net Profit | -10 | -50 | -13 | 38 | 51 | 4 | 21 | -5 | 32 | | EPS in Rs | — | -2.51 | -0.63 | 1.9 | 2.54 | 0.19 | 1.05 | -0.23 | 1.62 | ### Profit & Loss Figures in ₹ crore unless the row name gives another unit. | Item | Mar 2021 | Mar 2022 | Mar 2023 | TTM | | --- | ---: | ---: | ---: | ---: | | Sales | 21 | 356 | 522 | 523 | | Expenses | 8 | 103 | 112 | 117 | | Operating Profit | 13 | 254 | 410 | 407 | | OPM % | 63% | 71% | 79% | 78% | | Other Income | 0 | 11 | 15 | 18 | | Interest | 16 | 158 | 148 | 151 | | Depreciation | 7 | 137 | 202 | 219 | | Profit before tax | -10 | -30 | 74 | 55 | | Tax % | 0% | -23% | 4% | — | | Net Profit | -10 | -23 | 71 | 52 | | EPS in Rs | — | -1.16 | 3.54 | 2.63 | | Dividend Payout % | 0% | n/m | 78% | — | n/m: Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. ### Balance Sheet Figures in ₹ crore unless the row name gives another unit. | Item | Mar 2021 | Mar 2022 | Mar 2023 | | --- | ---: | ---: | ---: | | Equity Capital | 0 | 2,010 | 2,010 | | Reserves | 12 | -763 | -1,043 | | Borrowings | 1,470 | 1,653 | 1,770 | | Other Liabilities | 117 | 127 | 171 | | Total Liabilities | 1,598 | 3,027 | 2,908 | | Fixed Assets | 1,255 | 2,479 | 2,464 | | CWIP | 0 | 1 | 0 | | Investments | 0 | 0 | 0 | | Other Assets | 344 | 547 | 444 | | Total Assets | 1,598 | 3,027 | 2,908 | ### Cash Flow Figures in ₹ crore unless the row name gives another unit. | Item | Mar 2021 | Mar 2022 | Mar 2023 | | --- | ---: | ---: | ---: | | Cash from Operating Activity | 173 | 141 | 387 | | Cash from Investing Activity | -14 | -1,399 | -191 | | Cash from Financing Activity | -28 | 1,328 | -381 | | Net Cash Flow | 131 | 70 | -185 | | Free Cash Flow | 159 | -1,221 | 196 | | CFO/OP | 1,312 | 56 | 98 | ### Ratios | Item | Mar 2021 | Mar 2022 | Mar 2023 | | --- | ---: | ---: | ---: | | Debtor Days | 1,841 | 212 | 81 | | Cash Conversion Cycle | 1,841 | 212 | 81 | | Working Capital Days | -10,698 | 116 | -13 | | ROCE % | — | 6% | 8% | ## Documents ### Credit ratings | Date | Document | | --- | --- | | 10 Oct 2023 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/VirescentRenewableEnergyTrust_October%2010,%202023_RR_326761.html) | | 4 Oct 2023 | [Credit rating update — India Ratings](https://www.indiaratings.co.in/pressrelease/66363) | | 23 May 2023 | [Credit rating update — India Ratings](https://www.indiaratings.co.in/pressrelease/62050) | | 23 May 2023 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/VirescentRenewableEnergyTrust_May%2023,%202023_RR_319751.html) | | 24 Mar 2023 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/VirescentRenewableEnergyTrust_March%2024,%202023_RR_314956.html) | | 23 Mar 2023 | [Credit rating update — India Ratings](https://www.indiaratings.co.in/pressrelease/61345) | ### Exchange filings | Date | Document | | --- | --- | | 4 Sep 2023 | [Updates](https://nsearchives.nseindia.com/corporate/VIRESCENT_04092023142246_SEIntimationDelistingapproval.pdf) | | 29 Aug 2023 | [Disclosure under SEBI (PIT) Reg 2015](https://nsearchives.nseindia.com/corporate/VIRESCENT_29082023123251_Disclosure2.pdf) | | 29 Aug 2023 | [Disclosure under SEBI Takeover Regulations](https://nsearchives.nseindia.com/corporate/VIRESCENT_29082023123257_Disclosure1.pdf) | | 28 Aug 2023 | [Updates](https://nsearchives.nseindia.com/corporate/VIRESCENT_28082023212012_SEIntimationFormC2808.pdf) | | 26 Aug 2023 | [Updates](https://nsearchives.nseindia.com/corporate/VIRESCENT_26082023133655_SEIntimationRedemptionofNCDsd.pdf) | ## Company Information - **Listed:** 29 Sep 2021 - **Face Value:** ₹100 --- Negative figures use an ASCII hyphen-minus (-) so they parse as numbers. Amounts are in Indian rupees; "Cr" is crore (10 million). Dates are Indian Standard Time. Financial statements, shareholding and filings are as reported by the company. Price, volume and 52-week levels are market data. Technical indicators are computed by Tapetide from daily prices. The Tapetide Score is Tapetide’s own analysis. Analyst ratings and forecasts are the published estimates of third-party analysts, not company statements. The AI sections are generated text. For research and information only, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser. Generated 5 Nov 2026, 07:35 IST.