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VASUDHA · NSE & BSE · Power & Renewable Energy · Renewable Energy Equipment & EPC Services
₹512.40
+13.65(+2.74%)Updated 25 Sept 2026, 9:52 am · Real-time
NSE
₹512.40
BSE
₹512.55
Last 30 trading sessions (14 Aug 2026 – 24 Sept 2026)
Open
₹501.00
Previous Close
₹498.75
Day Range
₹499.50 – ₹515.80
52W Range
₹342.15 – ₹578.90
Volume
40.95 L
Market Cap
₹21,931 Cr
P/E Ratio
35.78
Dividend Yield
+0.31%
Headquarters
Pune, Maharashtra, India
Incorporated
18 Jun 1999
Employees
4,285
Website
www.vasudharenewables.example
Vasudha Renewables designs, builds and commissions utility-scale solar, wind and hybrid renewable energy plants for state utilities, C&I (commercial & industrial) clients and independent power producers. The company also manufactures balance-of-system (BOS) components in-house and is investing in adjacent new-energy verticals including battery energy storage systems (BESS) and green hydrogen electrolyzers.
| Name | Ownership | Business |
|---|---|---|
| Vasudha Solar Manufacturing Pvt Ltd | 100% | Manufacturing of solar mounting structures and BOS components |
| Vasudha Wind Projects Pvt Ltd | 100% | Wind EPC project execution |
| Vasudha Green Hydrogen Pvt Ltd | 74% | Green hydrogen electrolyzer pilot operations |
Vasudha-Nordkraft Renewables JV (49%)
with Nordkraft Energy Solutions AS (Norway)
Technology collaboration and transfer for advanced wind turbine components
Among the top six renewable energy EPC players in Western India by cumulative installed capacity commissioned, with a growing order book in emerging segments such as battery storage and green hydrogen.
Ramesh Vasudeva Iyer
Chairman (Non-Executive, Promoter)
Since 05 Aug 2013
Arvind Krishnan
Managing Director & CEO
Since 01 Apr 2016
Meenal Deshpande
Chief Financial Officer
Since 15 Nov 2019
| Name | Designation | Since |
|---|---|---|
| Ramesh Vasudeva Iyer | Chairman (Non-Executive, Promoter) | 05 Aug 2013 |
| Arvind Krishnan | Managing Director & CEO | 01 Apr 2016 |
| Dr. Kavitha Subramaniam | Independent Director | 12 Jun 2020 |
| Rajiv Malhotra | Independent Director | 01 Sept 2018 |
| Sunita Rao | Independent Director | 20 Mar 2021 |
| Vikram Oberoi | Independent Director | 05 Nov 2022 |
18 Jun 1999
Incorporation
Vasudha Renewables Ltd incorporated as a private limited engineering company in Pune, Maharashtra.
10 Nov 2004
First EPC Project
Commissioned first wind-EPC project of 25 MW in Satara district, Maharashtra.
22 Feb 2011
Conversion to Public Limited
Converted into a public limited company ahead of a planned listing.
05 Aug 2013
BSE Listing
Listed on BSE via IPO, raising Rs 185 crore for capacity expansion.
14 Apr 2016
NSE Listing & Solar Entry
Listed on NSE; entered the solar EPC segment through acquisition of a Gujarat-based solar contractor.
15 Feb 2018
Stock Split
Face value split from Rs 10 to Rs 2 per share to improve retail liquidity.
30 Sept 2019
100 MWp Milestone
Commissioned 100 MWp cumulative solar project portfolio; crossed Rs 2,000 crore in cumulative order book.
31 Dec 2021
Index Inclusion
Included in the Nifty Renewable Energy Index.
10 Jun 2023
Bonus Issue
Issued bonus shares in the ratio of 1:2 to reward shareholders.
31 Mar 2023
Index Inclusion
Included in the Nifty Energy sectoral index.
19 Jul 2024
Green Hydrogen Pilot
Launched a green hydrogen electrolyzer manufacturing pilot facility in Gujarat.
12 May 2026
Revenue Milestone
Crossed Rs 5,000 crore annual revenue run-rate; announced a Rs 450 crore capex plan for the battery storage EPC vertical.
| Metric | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,120 Cr | ₹1,185 Cr | ₹1,340 Cr | ₹1,080 Cr | ₹1,245 Cr | ₹1,310 Cr | ₹1,485 Cr | ₹1,198 Cr |
| Revenue Growth (YoY) | +9.80% | +10.20% | +11.50% | +6.93% | +11.16% | +10.55% | +10.82% | +10.93% |
| Operating Profit | ₹192 Cr | ₹205 Cr | ₹248 Cr | ₹181 Cr | ₹223 Cr | ₹237 Cr | ₹285 Cr | ₹211 Cr |
| Operating Margin | +17.10% | +17.30% | +18.50% | +16.80% | +17.90% | +18.10% | +19.20% | +17.60% |
| EBITDA | ₹253 Cr | ₹270 Cr | ₹322 Cr | ₹241 Cr | ₹291 Cr | ₹309 Cr | ₹367 Cr | ₹277 Cr |
| EBITDA Margin | +22.60% | +22.80% | +24.00% | +22.30% | +23.40% | +23.60% | +24.70% | +23.10% |
| Profit Before Tax | ₹159 Cr | ₹173 Cr | ₹215 Cr | ₹148 Cr | ₹190 Cr | ₹204 Cr | ₹252 Cr | ₹177 Cr |
| Net Profit | ₹118 Cr | ₹129 Cr | ₹160 Cr | ₹110 Cr | ₹141 Cr | ₹152 Cr | ₹188 Cr | ₹132 Cr |
| Net Profit Margin | +10.58% | +10.85% | +11.95% | +10.21% | +11.36% | +11.58% | +12.65% | +11.00% |
| EPS (₹) | 2.77 | 3.00 | 3.74 | 2.58 | 3.30 | 3.54 | 4.39 | 3.08 |
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | ₹3,050 Cr | ₹3,620 Cr | ₹4,150 Cr | ₹4,655 Cr | ₹5,120 Cr |
| Total Expenses | ₹2,586 Cr | ₹3,037 Cr | ₹3,453 Cr | ₹3,844 Cr | ₹4,193 Cr |
| Operating Profit | ₹464 Cr | ₹583 Cr | ₹697 Cr | ₹811 Cr | ₹927 Cr |
| Operating Profit Margin | +15.20% | +16.10% | +16.80% | +17.42% | +18.09% |
| Profit Before Tax | ₹341 Cr | ₹456 Cr | ₹567 Cr | ₹680 Cr | ₹794 Cr |
| Net Profit | ₹254 Cr | ₹340 Cr | ₹423 Cr | ₹507 Cr | ₹591 Cr |
| EPS (₹) | 5.93 | 7.94 | 9.87 | 11.84 | 13.81 |
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total Assets | ₹3,450 Cr | ₹3,885 Cr | ₹4,390 Cr | ₹4,970 Cr | ₹5,615 Cr |
| Total Liabilities | ₹1,600 Cr | ₹1,740 Cr | ₹1,880 Cr | ₹2,025 Cr | ₹2,155 Cr |
| Total Equity | ₹1,850 Cr | ₹2,145 Cr | ₹2,510 Cr | ₹2,945 Cr | ₹3,460 Cr |
| Total Debt | ₹980 Cr | ₹1,050 Cr | ₹1,120 Cr | ₹1,180 Cr | ₹1,225 Cr |
| Cash & Equivalents | ₹310 Cr | ₹365 Cr | ₹410 Cr | ₹475 Cr | ₹560 Cr |
| Net Worth | ₹1,850 Cr | ₹2,145 Cr | ₹2,510 Cr | ₹2,945 Cr | ₹3,460 Cr |
| Debt to Equity | 0.53 | 0.49 | 0.45 | 0.40 | 0.35 |
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash Flow | ₹352 Cr | ₹461 Cr | ₹566 Cr | ₹671 Cr | ₹775 Cr |
| Investing Cash Flow | ₹-220 Cr | ₹-260 Cr | ₹-300 Cr | ₹-335 Cr | ₹-370 Cr |
| Financing Cash Flow | ₹-95 Cr | ₹-146 Cr | ₹-221 Cr | ₹-271 Cr | ₹-320 Cr |
| Free Cash Flow | ₹132 Cr | ₹201 Cr | ₹266 Cr | ₹336 Cr | ₹405 Cr |
| Net Cash Flow | ₹37 Cr | ₹55 Cr | ₹45 Cr | ₹65 Cr | ₹85 Cr |
P/B Ratio
6.34
Price / Sales
4.19
Debt to Equity
0.35
EPS (TTM)
₹14.32
Book Value / Share
₹80.84
Current Ratio
1.32
ROE
+17.71%
ROCE
+20.40%
ROA
+10.91%
Operating Margin
+18.25%
Net Profit Margin
+11.70%
Revenue Growth
+10.86%
Profit Growth
+18.44%
Vasudha Renewables bags Rs 620 crore EPC order for 180 MW solar-wind hybrid project in Rajasthan
The company has secured a Rs 620 crore engineering, procurement and construction order from a state utility for a 180 MW hybrid renewable energy project in Jaisalmer, Rajasthan, to be commissioned over 18 months.
Board approves unaudited financial results for Q1 FY27
The Board of Directors has approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
Q1 FY27 earnings conference call - transcript and recording
Transcript and audio recording of the earnings conference call held with analysts and investors following the Q1 FY27 results.
Intimation of Board Meeting on August 14, 2026
Intimation that the Board will meet on August 14, 2026 to consider and approve the unaudited financial results for Q1 FY27.
Investor presentation - FY26 performance and FY27 outlook
Presentation covering FY26 annual performance, order book status and the FY27 growth outlook shared at the investor day.
Company crosses Rs 5,000 crore annual revenue run-rate
The Board approved a Rs 450 crore capex plan for the new battery energy storage (BESS) EPC vertical after the company crossed the Rs 5,000 crore annual revenue run-rate.
Board approves audited results for FY26 and recommends final dividend
The Board approved the audited financial results for FY26 and recommended a final dividend of Rs 1.10 per equity share, subject to shareholder approval.
Update on commissioning of 60 MW solar project in Bhuj, Gujarat
The company has successfully commissioned a 60 MW ground-mounted solar project in Bhuj, Gujarat, ahead of the scheduled timeline.
| Type | Action Date | Ex Date | Details | Value |
|---|---|---|---|---|
| Business Update | 24 Sept 2026 | — | New order win - Rs 620 crore hybrid EPC contract in Rajasthan. | Rs 620 crore order |
| Board Meeting | 24 Oct 2026 | — | Board meeting scheduled to consider Q2 FY27 unaudited financial results. | — |
| AGM | 25 Jul 2026 | — | 24th Annual General Meeting held virtually to approve FY26 accounts and final dividend. | — |
| Board Meeting | 14 Aug 2026 | — | Board meeting to consider and approve unaudited financial results for Q1 FY27. | — |
| Final Dividend | 28 Apr 2026 | 19 May 2026 | Final dividend for FY26 recommended by the Board and approved at the AGM. | Rs 1.10 per share |
| Interim Dividend | 08 Nov 2025 | 21 Nov 2025 | Interim dividend for FY26 approved by the Board. | Rs 0.50 per share |
| Final Dividend | 22 Apr 2025 | 13 May 2025 | Final dividend for FY25 approved at the AGM. | Rs 0.90 per share |
| Bonus Issue | 15 May 2023 | 09 Jun 2023 | Bonus issue approved to reward shareholders and improve stock liquidity. | 1:2 (one bonus share for every two held) |
| Date | Party | Quantity | Price | Value (₹ Cr) | Type |
|---|---|---|---|---|---|
| 18 Sept 2026 | Kotak Emerging Equity Fund | 8.50 L | ₹505.20 | 42.94 | Buy |
| 05 Sept 2026 | SBI Small Cap Fund | 6.20 L | ₹495.80 | 30.74 | Buy |
| 22 Aug 2026 | Ashish Kacholia (HUF) | 4.10 L | ₹488.40 | 20.02 | Sell |
| Date | Party | Quantity | Price | Value (₹ Cr) | Type |
|---|---|---|---|---|---|
| 12 Sept 2026 | Morgan Stanley Asia (Singapore) Pte | 12.50 L | ₹502.60 | 62.83 | Buy |
| 30 Jul 2026 | Nomura Singapore Ltd | 9.80 L | ₹478.15 | 46.86 | Buy |
| 05 Jun 2026 | Vasudha Family Trust (Promoter Group) | 5.00 L | ₹452.30 | 22.62 | Sell |
| Date | Party | Quantity | Price | Value (₹ Cr) | Type |
|---|---|---|---|---|---|
| 20 Aug 2026 | Arvind Krishnan (Managing Director & CEO) | 25,000 | ₹489.50 | 1.22 | Buy |
| 15 May 2026 | Meenal Deshpande (CFO) | 15,000 | ₹468.20 | 0.70 | Sell |
| 10 Feb 2026 | Dr. Kavitha Subramaniam (Independent Director) | 5,000 | ₹442.80 | 0.22 | Buy |
The renewable EPC major has secured a large hybrid project order in Jaisalmer, extending its order book visibility into FY28.
KuberaNow · Aarav Mehta
Shares of EPC and solar component makers, including Vasudha Renewables, gained after the extension of the production-linked incentive scheme.
KuberaNow · Priya Nair
Revenue grew 10.9% YoY on strong execution across the solar EPC segment, though sequential margins moderated after a strong Q4.
KuberaNow · Sanjay Rathod
The company said it would prioritize reinvestment into its battery storage and green hydrogen capex plan this fiscal.
KuberaNow · Sanjay Rathod
Management guided for continued double-digit revenue growth, backed by a strengthening pipeline in hybrid and storage projects.
KuberaNow · Aarav Mehta
The stock touched a fresh 52-week high after the company announced it had crossed an annualized revenue run-rate of Rs 5,000 crore.
KuberaNow · Priya Nair
Full-year net profit rose 16.7% YoY on the back of margin expansion and higher project execution volumes.
KuberaNow · Sanjay Rathod
Multiple brokerages raised target prices, citing an improving revenue mix and early traction in the BESS vertical.
KuberaNow · Priya Nair
The project was completed ahead of schedule and will supply power under a long-term PPA with a state distribution utility.
KuberaNow · Aarav Mehta
The Board approved an interim dividend, continuing its policy of steady payouts alongside reinvestment in growth capex.
KuberaNow · Sanjay Rathod
| Company | Market Cap | Price | P/E | P/B | ROE | Rev. Growth | Profit Growth |
|---|---|---|---|---|---|---|---|
| SURYATEJSuryatej Green Energy Ltd | ₹28,450 Cr | ₹645.20 | 32.10 | 5.80 | +19.20% | +13.50% | +21.30% |
| BHOOMIPWRBhoomi Power Infra Ltd | ₹19,880 Cr | ₹460.75 | 31.20 | 5.40 | +18.10% | +11.80% | +17.90% |
| PAVANURJAPavan Urja Ltd | ₹15,620 Cr | ₹385.60 | 29.40 | 4.95 | +16.80% | +9.20% | +14.60% |
| TRINETRAENGTrinetra Engineering Ltd | ₹12,340 Cr | ₹298.40 | 26.80 | 4.10 | +15.30% | +8.40% | +11.20% |
| AKSHAYARENAkshaya Renewables Ltd | ₹33,210 Cr | ₹712.85 | 34.60 | 6.50 | +20.40% | +15.10% | +24.80% |
RSI (14)
67.49
MACD
7.99
MACD Signal
6.79
MACD Histogram
1.20
SMA 20
₹483.87
SMA 50
₹473.20
SMA 100
₹452.65
SMA 200
₹418.40
EMA 20
₹486.41
EMA 50
₹476.90
Pivot Point
₹497.91
Resistance Levels
Support Levels
Computed from the last 30 trading sessions ended 2026-09-24; pivot and support/resistance use the classic pivot formula on that day's OHLC.
Overall Stock Health
Out of 100, weighted across 5 factors
