58  Total SME IPOs listed in 2025

2,593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

Solar91 Cleantech Limited IPO Analysis

Solar91 Cleantech IPO is a book build IPO listing on BSE SME exchange. The company is based in Jaipur and caters to Solar - Energy sector. Narnolia Financial Services is the merchant banker of Solar91 Cleantech IPO. It is a SME UPCOMING IPO which filed its Draft Red Herring Prospectus (DRHP) on 29th August 2024.

Solar91 Cleantech IPO posted revenues of Rs 42.77 crores and PAT of Rs 2.33 crores in FY25 on annualised basis.

Nature of IPO : SME UPCOMING
Exchange : BSE SME
IPO Type : Book Building

Solar91 Cleantech IPO Financial Performance (Restated)

Financial results of Solar91 Cleantech IPO based on restated financials as per prospectus and IPO review parameters can be referred to below.

Amount in ₹ crores
Financials
FY24
FY23
FY22
Balance Sheet
Assets
24.95
12.99
9.53

Net Worth
4.70
2.35
1.30

Total Debt
10.84
7.76
2.25

Profit & Loss
Revenue
Revenue on annualised basis
42.77
42.77
37.58
41.57

EBITDA
EBITDA on annualised basis
3.84
3.84
0.83
0.60

PAT
PAT on annualised basis
2.33
2.33
0.20
0.32

Notes:
1) Total debt incluides long-term borrowings and short-term borrowings.
2) Revenue means the Revenue from Operations as appearing in the Restated Financial Statements.

Solar91 Cleantech IPO Key performance Indicators (KPI)

Solar91 Cleantech IPO PAT Margin is 5.45%, ROCE (Return on Capital Employed) is 25.81% as per latest financial. The below table shows Solar91 Cleantech IPO Key Performance Indicators (KPI) as mentioned in company’s prospectus.

Particulars
FY24
FY23
FY22

EBITDA Margin (%)
8.98
2.21
1.44

PAT Margin (%)
5.45
0.53
0.77

EPS (Rs.)
2.17
0.20
0.46

ROE (%)
49.57
8.51
24.62

ROCE (%)
25.81
8.77
22.10

ROA (%)
9.34
1.54
3.36

Debt to Equity (x)  
2.31
3.30
1.73

Notes:
1) The EPS represents post-bonus basic EPS.
2) Return on Equity is ratio of Profit after Tax and Total Equity.
3) Return on Assets is ratio of Profit after Tax and Total Assets.
4) Debt to Equity is ratio of Total borrowings and Total Equity.

Solar91 Cleantech IPO Valuation Metrics

The market Capitalisation of Solar91 Cleantech IPO is Rs [●] crores at the time of IPO and other IPO valuation metrics of this IPO is mentioned below.

Key Metrics (at the time of IPO)


Market Capitalisation (Rs. Cr.):
[●]

Enterprice Value (EV) (Rs. Cr.):
6.61

EV/EBITDA (times) :
1.72

PE Multiple (times) :
[●]

P/B (times) :
[●]

NAV (Rs.) :
3,047.22

Notes:
1) The Enterprise Value is calculated as Market Cap. + Total Debt - Cash and Cash Equivalents.
2) Price to Book multiple is calculated as the ratio of Market Cap. and Net Worth post IPO proceeds.

What are the key financial metrics in Solar91 Cleantech prospectus?

The Solar91 Cleantech IPO prospectus highlights an Return on Equity (ROE) of 15%, Return on Assets (ROA) of 12%, and an EBITDA Margin of 18%, showcasing financial performance.

How do profitability ratios impact the evaluation of Solar91 Cleantech IPO?

Profitability ratios like Return on Equity (ROE), Return on Assets (ROA), and Net Profit Margin shows Solar91 Cleantech IPO financial report. Analysing these metrics can provide insights into the company’s efficiency, profitability, and long-term growth potential.

What is the market capitalisation for Solar91 Cleantech IPO ?

The post-IPO market capitalisation of Solar91 Cleantech IPO is ₹[●] Cr, based on the issue price and share structure. It helps investors gauge the company’s valuation and compare it with industry peers before investing.

What is the PE Multiple of Solar91 Cleantech IPO?

The Solar91 Cleantech IPO has a Price-to-Earnings (PE) ratio of [●], indicating valuation compared to industry peers. It helps investors determine if the stock is overvalued or undervalued compared to its earnings and industry peers.

What is the Revenue of Solar91 Cleantech IPO?

Solar91 Cleantech IPO reported revenue of ₹42.77 Cr in the latest fiscal year, showing business performance, on annualised basis. Revenue figures from Solar91 Cleantech IPO provide insights into sales growth, market demand, and business scalability.

What is the EBITDA of Solar91 Cleantech IPO?

Solar91 Cleantech recorded an EBITDA of ₹ 3.84 Cr., reflecting operational efficiency. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) measures operational profitability.

What is the PAT of Solar91 Cleantech IPO?

Solar91 Cleantech Profit After Tax (PAT) is ₹2.33 Cr, reflecting earnings growth. Profit After Tax (PAT) reflects the company’s actual earnings after all expenses, taxes, and deductions

IPO Key Highlights

*At the time of IPO, on Annualised Basis
  • Revenue: ₹ 42.77 Cr.
            EBITDA: ₹ 3.84 Cr.
            PAT: ₹ 2.33 Cr.
  • EBITDA Margin: 8.98 %
            Pat Margin: 5.45%
  • Net Worth: ₹ 4.70 Cr.
  • Market Capitalisation: [●]
  • P/E: [●]
  • P/BV: [●]
  • EV/EBITDA: 1.72 times

Revenue

(As Annualised)

EBITDA

(As Annualised)

PAT

(As Annualised)
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FAQs

Solar91 Cleantech operates in Solar - Energy and . The Issue is listed on BSE SME in Apr, 2025. Solar91 Cleantech IPO size was with Issue price of .

Solar91 Cleantech IPO subscription was X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Solar91 Cleantech IPO listed at a listing price of against the offer price of .

The current market price of Solar91 Cleantech is .

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