---
title: "Ahasolar Technologies Ltd (543941) — Share Price, Financials & Analysis"
symbol: "543941"
company: "Ahasolar Technologies Ltd"
canonical: "https://tapetide.com/stocks/543941"
isin: "INE0NEV01011"
nse_symbol: "AHASOLARTECHNOLOGIESLTD"
bse_code: "543941"
sector: "Retail"
industry: "Ecommerce"
market_cap_cr: 22.2
generated_at: "2026-09-13T20:15:51.614Z"
---

# Ahasolar Technologies Ltd (543941)

Canonical page: https://tapetide.com/stocks/543941

## Company

- **NSE Symbol:** AHASOLARTECHNOLOGIESLTD
- **BSE Code:** 543941
- **ISIN:** INE0NEV01011
- **Sector:** Retail
- **Industry:** Ecommerce
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2023-07-21
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** ahasolar.in

## About

Incorporated in 2017, Ahasolar Technologies Ltd provides multiple digital solutions and advisory in the field of renewable energy[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:46:06.045971Z.

- **Market Cap:** ₹22.2 Cr
- **Classification:** SME
- **P/E (reported):** 107.7
- **EPS (reported):** ₹0.14
- **Book Value:** ₹48.59
- **Price to Book:** 1.48
- **Dividend Yield:** 0%
- **ROE:** 1.37%
- **ROCE:** 2.91%
- **Debt to Equity:** 0.06
- **Revenue (yearly):** ₹92.2 Cr
- **Net Income:** ₹0.2 Cr
- **EBITDA:** ₹0.8 Cr
- **52-Week High:** ₹116.85
- **52-Week Low:** ₹58.9
- **RSI (14):** 44.08

## Tapetide Score

- **Score:** 50 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 47.7 (of 4473 scored stocks)
- **Confidence:** 86%
- **Data coverage:** 71%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 67.24 | 9% |
| growth | 94.66 | 9% |
| momentum | 62.32 | 12% |
| ownership | 50 | 24% |
| quality | 49.91 | 22% |
| valuation | 23.54 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company is almost debt free.
- Debtor days have improved from 30.6 to 15.1 days.
- Company's working capital requirements have reduced from 23.5 days to 10.2 days

### Weaknesses

- Promoter holding is low: 37.0%
- Company has a low return on equity of -1.55% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 213.71% | 240.14% | 51.91% |
| ebitda margin growth | -200% | 3.57% | — |
| net income growth | -120% | — | — |
| revenue growth | 57.61% | 29.45% | — |
| roce | -150.09% | 646.15% | — |
| roe | -121.17% | -1.61% | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 12.89 | 29.16 | 23.07 | 34.92 | 36.02 | 55.69 |
| Expenses | 13.66 | 28.52 | 26 | 32.97 | 36.32 | 55.13 |
| Operating Profit | -0.77 | 0.64 | -2.93 | 1.95 | -0.3 | 0.56 |
| OPM % | -5.97 | 2.19 | -12.7 | 5.58 | -0.83 | 1.01 |
| Other Income | 0.13 | 0.35 | 0.26 | 0.22 | 0.49 | 0.05 |
| Interest | 0 | 0 | 0.03 | 0.05 | 0.06 | 0.06 |
| Depreciation | 0.13 | 0.17 | 0.18 | 0.2 | 0.26 | 0.09 |
| Profit before tax | -0.77 | 0.82 | -2.88 | 1.92 | -0.13 | 0.46 |
| Tax % | 0 | 1.22 | 0 | -0.52 | -15.38 | 30.43 |
| Net Profit | -0.77 | 0.81 | -2.88 | 1.93 | -0.12 | 0.32 |
| EPS in Rs | -2.5 | 2.63 | -9.34 | 6.26 | -0.39 | 1.04 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Sales | 42.04 | 57.99 | 91.97 |
| Expenses | 42.16 | 59 | 91.35 |
| Operating Profit | -0.12 | -1.01 | 0.62 |
| OPM % | -0.29 | -1.74 | 0.67 |
| Other Income | 0.48 | 0.5 | 0.18 |
| Interest | 0.01 | 0.08 | 0.12 |
| Depreciation | 0.3 | 0.38 | 0.35 |
| Profit before tax | 0.05 | -0.97 | 0.33 |
| Tax % | 20 | -1.03 | 36.36 |
| Net Profit | 0.04 | -0.96 | 0.21 |
| EPS in Rs | 0.13 | -3.11 | 0.68 |
| Dividend Payout % | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Equity Capital | 3.08 | 3.08 | 3.08 |
| Reserves | 12.64 | 11.69 | 11.89 |
| Borrowings | 0 | 0.71 | 0.9 |
| Other Liabilities | 1.71 | 3.86 | 4.62 |
| Total Liabilities | 17.43 | 19.34 | 20.49 |
| Fixed Assets | 0.96 | 1.16 | 1.07 |
| CWIP | 0.96 | 2.03 | 8.57 |
| Investments | 0 | 0 | 0 |
| Other Assets | 15.51 | 16.15 | 10.85 |
| Total Assets | 17.43 | 19.34 | 20.49 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Cash from Operating Activity | -1.42 | -1.75 | 1.99 |
| Cash from Investing Activity | -7.77 | 2.06 | -4.04 |
| Cash from Financing Activity | 11.69 | 0.63 | 0.06 |
| Net Cash Flow | 2.5 | 0.95 | -1.99 |
| Free Cash Flow | -2.86 | -3.4 | -4.8 |
| CFO/OP | 1000 | 144 | 353 |

### Ratios

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Debtor Days | 39.16 | 37.45 | 15.12 |
| Inventory Days | 0.21 | 0.15 | 1.02 |
| Days Payable | 2.36 | 12.48 | 4.63 |
| Cash Conversion Cycle | 37 | 25.13 | 11.51 |
| Working Capital Days | 34.82 | 25.43 | 10.2 |
| ROCE % | — | -5.71 | 2.87 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 36.95% | 36.95% | 36.95% | 36.95% | 36.95% | 36.95% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 34.6% | 36.39% | 40.14% | 43.6% | 43.06% | 43.06% |
| Others | 28.45% | 26.66% | 22.91% | 19.44% | 19.99% | 19.99% |
| No. of Shareholders | 500 | 880 | 1145 | 1192 | 1172 | 1014 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 75.44 | Sell |
| EMA (10) | 74.37 | Sell |
| SMA (20) | 76.17 | Sell |
| EMA (20) | 75.44 | Sell |
| SMA (50) | 76.44 | Sell |
| EMA (50) | 77.16 | Sell |
| SMA (100) | 77.77 | Sell |
| EMA (100) | 79.6 | Sell |
| SMA (200) | 84.54 | Sell |
| EMA (200) | 88.7 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 42.68 | Neutral |
| MACD (12,26,9) | -1.22 | Sell |
| Stochastic (14,3,3) | 30.65 | Neutral |
| ADX (14) | 8.76 | Neutral |
| Williams %R (14) | -79.9 | Neutral |
| ATR (14) | 4.04 | High Volatility |
| ROC (12) | -2.81 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 22.53 | Buy |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-05 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=78bed053-03e7-44ba-a0ad-c2873f097d07.pdf) |
| 2026-09-02 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=92995640-fe81-4abb-aeec-77b92553cf32.pdf) |
| 2026-08-31 | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2e23520c-4917-49ce-967f-0255febc8e2d.pdf) |
| 2026-08-31 | [Notice Of 09Th Annual General Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ebfa9772-1862-4d15-ba28-3c1da0d05c88.pdf) |
| 2026-08-31 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=26710d43-207a-4778-85f7-05395f87552b.pdf) |
| 2026-08-25 | [Board Meeting Outcome for Outcome Of Board Meeting Held On 25Th August 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9b7c23e1-d5ab-4952-825d-453fb1098f7f.pdf) |
| 2026-08-25 | [Intimation Of Cut-Off Date For E-Voting Dear](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fdd4b7de-ef31-4d71-9475-80db605e35a9.pdf) |
| 2026-08-25 | [Intimation Of Book Closure Under Regulation 42 Of SEBI (LODR) Regulations 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=350da0ba-1858-42a9-a203-f238a91be05d.pdf) |
| 2026-08-17 | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=71bfe14e-297a-45f2-a34e-b9cf3f1f1954.pdf) |
| 2026-08-17 | [Board Meeting Intimation for Intimation Of Board Meeting To Be Held On 25Th August 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c859008a-2128-40a3-8413-c58d64135df3.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-29 | [Results For The Financial Year Ended 31.03.2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9abcefe2-d60d-4155-87bd-e1b7043a4cdc.pdf) |
| 2026-05-28 | [Audited Financial Results For The Half Year And Financial Year Ended March 31 2026 Together With The AuditorS Report Thereon By The Statutory Auditor Of The Company As Per Regulation 33 Of The SEBI (LODR) Regulations 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1eaacf9d-b0f6-436c-8978-b4d2aed8b681.pdf) |
| 2025-11-14 | [Financial Results For The Half Year Ended 30Th September 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ff045033-1d44-4fa6-ab79-ebf74f541c40.pdf) |
| 2025-05-27 | [Financial Results For The 31St March 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f8c13520-6d11-4732-83e0-a3d4d8f9a2df.pdf) |
| 2024-10-25 | [Financial Results For The Half Year Ended 30Th September, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9c8aadae-6d89-4321-8d50-cb57df2503fb.pdf) |
| 2024-05-23 | [Audited Financial Results For The Half Year And Financial Year Ended March 31, 2024 Together With The Auditor'S Report Thereon By The Statutory Auditor Of The Company As Per Regulation 33 Of The SEBI (LODR) Regulations, 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e0a47f0d-bbb5-4df1-b680-adb6e2272330.pdf) |
| 2023-10-30 | [Results For Half Year Ended On 30Th September, 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6d153305-2f69-4c2b-854b-832b66812a82.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 8h - Received ₹2.48 crore consultancy work order for 30MW rooftop solar projects in Goa, executed over 15 months. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 8h - Received ₹2.48 crore consultancy work order for 30MW rooftop solar projects in Goa, executed over 15 months.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/f70c99b8-783f-45d4-98e9-7c014af981eb.pdf) |
| 5 Mar - Appointed Mr. Dinesh Shah as Independent Additional Director effective 5 March 2026, filling vacancy after Mr. Ashok Patel's death. | [Announcement under Regulation 30 (LODR)-Change in Management 5 Mar - Appointed Mr. Dinesh Shah as Independent Additional Director effective 5 March 2026, filling vacancy after Mr. Ashok Patel's death.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f4e01db0-1189-4235-b6e9-5c4fb4bb50c6.pdf) |
| 5 Mar - Appointed Mr. Dinesh Shah as Additional Independent Director effective 5 March 2026, filling vacancy after Ashok Patel's death. | [Board Meeting Outcome for Outcome Of Board Meeting Held On 5Th March, 2026 5 Mar - Appointed Mr. Dinesh Shah as Additional Independent Director effective 5 March 2026, filling vacancy after Ashok Patel's death.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/93edf33d-7e71-4f5c-8b71-89f2f2fcd06d.pdf) |
| 3 Mar - Received Rs.16.40 lakh work order from ArcelorMittal Nippon Steel India for AMNS rooftop feasibility study, six-month term. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 3 Mar - Received Rs.16.40 lakh work order from ArcelorMittal Nippon Steel India for AMNS rooftop feasibility study, six-month term.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/179213ad-28ae-473d-ad77-e43940b8f445.pdf) |
| 3 Apr - Compliance Certificate under Regulation 74(5) of SEBI (DP) Reg. 2018 for the quarter ended March, 2026 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 3 Apr - Compliance Certificate under Regulation 74(5) of SEBI (DP) Reg. 2018 for the quarter ended March, 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4e59e318-15ed-466d-9ee8-d3f9b6468523.pdf) |
| 24 Feb - Board meeting on 5 March 2026 to appoint Mr. Dinesh Shah as Additional Independent Director. | [Board Meeting Intimation for Notice Is Hereby Given Pursuant To Regulation 29 Of SEBI (LODR) Reg, 2015 That The Meeting Of The Board Of The Company Is Scheduled To Be Held On Thursday, March 5Th 2026 At The Registered Office Of The Company 24 Feb - Board meeting on 5 March 2026 to appoint Mr. Dinesh Shah as Additional Independent Director.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9620c924-ecd7-4a0c-886e-cc2338651dd1.pdf) |
| 23 Apr - Received ₹2.48 crore consultancy work order for 30MW rooftop solar projects in Goa, executed over 15 months. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 23 Apr - Received ₹2.48 crore consultancy work order for 30MW rooftop solar projects in Goa, executed over 15 months.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f70c99b8-783f-45d4-98e9-7c014af981eb.pdf) |
| 2 Apr - Promoters held 11,39,020 shares (36.95%) as of March 31, 2026, with no encumbrance. | [Disclosure Under Regulation 31(4) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulation, 2011 2 Apr - Promoters held 11,39,020 shares (36.95%) as of March 31, 2026, with no encumbrance.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3b82ed21-adea-46f2-89ce-8463498a371e.pdf) |
| 2 Apr - Company is not a Large Corporate under SEBI debt circular. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 2 Apr - Company is not a Large Corporate under SEBI debt circular.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fef7e4d3-dc21-4ea5-b2d8-18739122344f.pdf) |
| 16 Apr - Company clarified share price movement was market-driven; no unpublished price-sensitive information. | [Clarification Letter With Respect To Significant Movement In The Price 16 Apr - Company clarified share price movement was market-driven; no unpublished price-sensitive information.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4cecd319-cace-4031-8548-d90ef5b574c5.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8983793a-92ae-437b-b4d7-a10a42e5266f.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/72086a45-a2da-48a3-b9f0-0584c20571a9.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c43b0e1c-84de-4841-a86c-275d6a6328c0.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Aug 2023 | [Concall - Aug 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f9ccce8a-0367-45bf-8b57-90bc30573f10.pdf) |
| Aug 2023 | [Concall - Aug 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f9ccce8a-0367-45bf-8b57-90bc30573f10.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:15:51.614Z.