CS

Citizen Solar

538786 BSE
₹165.00 0.00 (0.00%)
Market Cap
₹232 Cr
P/E
5.46

Key Fundamentals

MicrocapPrint MediaMedia
Market Cap
₹232 Cr
P/E (TTM)
5.46
EBITDA
₹34.40 Cr
Return on Equity
53.55%
Debt to Equity
2.52
Book Value
₹29.82
EPS (TTM)
₹30.23
52W High
₹318.45
52W Low
₹153.90

Price-based figures as of 13 Oct 2026, 15:10 IST · EPS basis: Standalone · TTM

Peer Comparison

Industrials › Media › Print Media › Other Electrical Equipment

DB Corp
₹174.428.843,109 Cr1.282.89%13.67%17.13%2,486 Cr352 Cr
Jagran Prakashan
₹62.097.171,351 Cr0.6716.26%8.68%12.60%2,019 Cr179 Cr
Sandesh
₹991.006.99750 Cr0.530.49%4.61%6.54%959 Cr106 Cr
Hindustan Media Ventures
₹77.906.40574 Cr0.360.00%8.89%10.43%906 Cr89 Cr
Citizen Solar (this company)
₹165.005.46232 Cr5.530.00%53.55%27.61%191 Cr20 Cr
Madhya Pradesh Today Media
₹41.55—19 Cr0.390.00%6.14%8.95%——
HT Media
₹24.05——0.350.00%1.92%4.25%2,087 Cr6 Cr
Median 7 companies₹77.906.99662 Cr0.530.00%8.68%10.43%1,489 Cr98 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live 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. How it works →

No Tapetide Score has been computed for this stock yet.

Key Insights

Strengths

3
  • Company has delivered good profit growth of 186% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 66.9%
  • Promoter holding has increased by 18.7% over last quarter.

Weaknesses

2
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company might be capitalizing the interest cost

Technical Indicators

Oscillators

BearishNeutralBullish

Bullish

Bearish
1
Neutral
5
Bullish
3

Overall

BearishNeutralBullish

Bearish

Bearish
11
Neutral
5
Bullish
3

Moving Averages

BearishNeutralBullish

Bearish

Bearish
10
Neutral
0
Bullish
0

Growth Rate

Revenue Growth
67.47% lower than 3Y

change over 1 year

Net Income Growth
93.1%

change over 1 year

Cash Flow Change
-8.45%

change over 1 year

EBITDA Margin Change
2.6%

change over 1 year Operating margin 11.03% · Jun 2026

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1.01
0.33
1.3
1.28
0.79
1.82
0.94
0.5
109
3.1
0.09
110
76.77
Expenses
1.1
0.41
1.4
1.38
0.87
1.87
1.03
0.6
89.7
2.93
0.18
94.14
68.3
Operating Profit
-0.09
-0.08
-0.1
-0.1
-0.08
-0.05
-0.09
-0.1
19.02
0.17
-0.09
15.63
8.47
OPM %
-8.91%
-24.24%
-7.69%
-7.81%
-10.13%
-2.75%
-9.57%
-20%
17.49%
5.48%
-100%
14.24%
11.03%
Other Income
0.09
0.09
0.11
0.09
0.09
0.06
0.1
0.11
0.1
0
0
0.92
0.14
Interest
0
0
0
0
0
0
0
0
0.38
0
0
0.11
0.94
Depreciation
0
0
0
0
0
0
0
0
0.5
0
0
0.5
0.6
PBT
0
0.01
0.01
-0.01
0.01
0.01
0.01
0.01
18.24
0.17
-0.09
15.94
7.07
Tax %
—
0%
0%
0%
0%
0%
0%
100%
16.72%
0%
0%
12.11%
18.39%
Net Profit
0
0.01
0.01
-0.01
0.01
0.01
0.01
0
15.2
0.17
-0.09
14.02
5.77
EPS (₹)
0
0.02
0.02
-0.02
0.02
0.02
0.02
0
28.16
0.31
-0.17
25.98
4.11
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
5
4
3
3
2
1
1
1
2
4
186
311
190
Expenses
4
4
3
3
3
2
1
1
3
4
166
277
166
Operating Profit
1
0
0
0
0
0
-1
-1
0
0
20
34
24
OPM %
10%
2.2%
-2.6%
-1.4%
-9%
-30%
-95%
-107%
-13%
-9%
11%
11%
13%
Other Income
0
0
0
0
0
0
0
1
0
0
0
1
1
Interest
0
0
0
0
0
0
0
0
0
0
3
2
1
Depreciation
0
0
0
0
0
0
0
0
0
0
2
2
1
PBT
0
0
0
0
0
0
0
0
0
0
16
30
23
Tax %
-28%
0%
-200%
0%
—
-25%
0%
0%
0%
0%
26%
26%
—
Net Profit
0
0
0
0
0
0
0
0
0
0
12
22
20
EPS (₹)
0.44
-0.41
0.06
0.02
0.04
-0.13
-0.2
-0.11
0.02
0.02
21.55
41.56
30.23
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
5
5
5
5
5
5
5
5
5
5
14
14
Reserves
1
-1
-1
-1
-1
-1
-1
-1
-1
-1
10
28
Borrowings
0
0
0
0
0
0
0
0
0
0
18
106
Other Liabilities
0
0
0
0
0
0
0
0
0
0
14
30
Total Liabilities
7
6
6
5
5
5
5
5
5
5
56
177
Fixed Assets
2
1
1
1
1
0
0
0
0
0
22
43
CWIP
0
0
0
0
0
0
0
0
0
0
0
79
Investments
0
0
0
1
1
1
1
0
0
0
0
0
Other Assets
4
4
4
4
4
4
4
4
4
4
33
55
Total Assets
7
6
6
5
5
5
5
5
5
5
56
177
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
0
0
1
0
0
0
0
0
0
0
23
21
Investing
0
0
-1
-1
0
1
0
0
0
0
-18
-102
Financing
0
0
0
0
0
-1
0
0
0
0
-6
81
Net Cash Flow
0
0
0
0
0
0
0
0
0
0
-1
0
Free Cash Flow
0
0
0
0
0
1
0
0
0
0
5
-81
CFO/OP
98
288
-689
-900
-124
16
35
6
-12
24
136
84
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
23
12
17
20
2
25
0
0
0
0
13
12
Inventory Days
—
—
—
—
—
—
—
0
0
0
25
15
Days Payable
—
—
—
—
—
—
—
—
—
—
2
0
Cash Conversion Cycle
23
12
17
20
2
25
0
0
0
0
36
27
Working Capital Days
-40
-43
-48
-24
-45
-30
0
0
0
12
18
-12
ROCE %
4%
-4%
0%
1%
1%
-1%
-3%
-9%
0%
0%
79%
35%

Insights

Beta

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

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Shareholding Pattern

DIIs0.15%Public85.23%Others1.26%Promot.13.36%As ofJun 2026

Documents

Frequently Asked Questions about Citizen Solar

What does Citizen Solar Ltd do?
Citizen Solar Ltd, formerly Citizen Infoline Ltd, manufactures solar PV modules from two facilities at Kadi, Gujarat and markets solar inverters, with transportation and solar installation/maintenance forming ancillary revenue. Citizen Solar Pvt Ltd was amalgamated into the listed entity with Apr...
Where is Citizen Solar Ltd (538786) listed?
Citizen Solar Ltd trades under code 538786 on the BSE.
Which sector does Citizen Solar Ltd belong to?
Citizen Solar Ltd is classified under the Media sector, in the Print Media industry.
What is the market capitalisation of Citizen Solar Ltd?
Citizen Solar Ltd has a market capitalisation of ₹231.7 Cr as of 13 Oct 2026, which places it in the Small Cap band.
What is the PE ratio of Citizen Solar Ltd?
Citizen Solar Ltd trades at a PE ratio of 5.46 as of 13 Oct 2026, on earnings per share of ₹30.23, against a book value of ₹29.82 per share.
What is the 52-week high and low of Citizen Solar Ltd?
Over the last 52 weeks Citizen Solar Ltd has traded between ₹153.9 and ₹318.45 as of 13 Oct 2026.
What is the Return on Equity (ROE) of Citizen Solar Ltd?
Citizen Solar Ltd reported a return on equity of 53.55%. Its debt-to-equity ratio is 2.52.

Company Information

Citizen Solar Ltd, formerly Citizen Infoline Ltd, manufactures solar PV modules from two facilities at Kadi, Gujarat and markets solar inverters, with transportation and solar installation/maintenance forming ancillary revenue. Citizen Solar Pvt Ltd was amalgamated into the listed entity with April 1, 2023 as the appointed date; NCLT sanctioned the scheme on March 19, 2026, after which the company was renamed Citizen Solar Ltd. [1] [2]

Website citizeninfoline.com
Listed 2014-11-20
Face Value ₹ 10
Shares Outstanding 1,40,42,424

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