any thoughts on the restructuring, promoter change or capital change that recently has happened.

Another strong quarter. Revenue up 73% yoy,EBITDA up 113% & PAT up 116%. Margins continue to be steady around 27%.

Quarterly run rate is close to 470 cr annual revs & now this is before the 25% capacity addition comes on line. Just like last quarter,it’s interesting to compare management’s guidance vs. their delivery:

guidance of 22% EBITDA and delivery in the 25-30% range

Revenue guidance of 350 cr while 9m revs are already at 290 cr. Q4 being the strongest quarter even taking Q3 run rate one gets 400 cr kinda revs for FY24. So 40% growth vs. 25% that management guided.

Macro continues to be very strong for the sector with much of the electrical infra in developed countries nearing replacement(as referenced by Apar) while new demand is being driven by renewable sector. Even domestically,things are looking very good. Companies that supply to utilities have mentioned how new tenders are at much higher GMs(6-700 bps) While Shilchar has no exposure to government supplies it stands to reason that pricing environment for other sub segments should also be benign. @T11 has shared good data points. Onto the concall tomorrow now.

Disc.: Invested. Views are biased.

The company’s topline has been about flat, and operating profits/margins have been declining for the last 4 quarters. For FY24, net profit may not exceed 15cr. There has been a change in geo mix, exports have dropped, and domestic sales filling the gap. But domestic sales it seems are less profitable. The company’s stock price can be under pressure until there is improvement.

However, the family taking a big chunk from the company as salary is a big sore point for me.

Edit: The call may happen, but dates are not decided yet.

Disc: interested, but no holdings.

LarryWink
Tough question though a good one!
Agree that Green Hydrogen is the end product and renewable energy is the foundation and so the game.starts with Solar and Wind.

NHPC , SJVN are already discovered stories… if you go through this thread and the other threads on sjvn and nhpc , 1-2 yrs back these names were discussed and there were few takers…it was languishing @ 30 level when I was mopping up to build my green energy portfolio.
But today , everybody is chasing. everyone wants to buy at any price and I am happily exiting partially with profit to recover my capital.

Both the stocks have moved up only due to bulging order book on renewables mainly from Govt undertakings but this needs to be converted in to cash and it will take years… if people are ready to wait for 3-5 years , may be some more steam is still left.

Coming back to your point, i am staying away from little known pvt small cap midcap stocks/ MSME, because with so much competition and fast changing technology, i don’t know how they would perform in near term- given the fact that we are still at the early stage of energy transition.
However, well known large pvt/ PSU companies would be able to adopt to fast changing technology. No wonder, Investors have realised this and hence the rally on PSU energy basket – be it NHPC,SjVN, NTPC, power grid to name a few including the NBFC power PSU’s. The oil and Gas PSU are also moving up because everyone is into energy transition.
As a test case, please go through the post on “Best Green energy stocks to buy in India 2024 for portfolio investment” posted yesterday posted above in this thread.
Take the stocks one by one and go to screener to verify financials parameters , and other relevant parameters , you will get your answer.

To put it in one sentence , “some of these
companies are still struggling and though future looks bright , present is bleak” cash flow negative,. i am not comfortable to invest in these kind of stocks when there are large/ mid cap pvt companies/ PSU’s with proven financials are giving 3x,4x returns in a year.

i am not saying that all are going to be bad …some may do well also. so, if you have risk taking ability and you have an art of identifying such companies, go ahead and invest.

This is my personal.view, you should do your own assessment before investing in any renewable stocks.

If I come across any detailed study on your topic , I will be glad to share in the thread .

Rakesh Gangwal Likely To Sell Another Tranche Of IndiGo Shares Soon: Sources | CNBC TV18