---
title: "Bright Solar Ltd (BRIGHT) — Share Price, Financials & Analysis"
symbol: "BRIGHT"
company: "Bright Solar Ltd"
canonical: "https://tapetide.com/stocks/BRIGHT"
isin: "INE684Z01010"
nse_symbol: "BRIGHT"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-09-13T19:16:33.664Z"
---

# Bright Solar Ltd (BRIGHT)

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

## Company

- **NSE Symbol:** BRIGHT
- **ISIN:** INE684Z01010
- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **CEO:** Dr. Yogesh Jiwanlal Lakhani
- **Employees:** 91
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** brightsolar.in

## About

Incorporated in 2010, Bright Solar Ltd is into assembling of DC/AC Solar Pumps and Solar Pump Systems, EPC contracts of Solar Photo voltaic Water pumps, consulting of Projects
and tenders, Water supply and Sewerage
Infra Project[1]

## Latest Price

- **Price:** ₹8.35
- **Change:** 0 (0%)
- **Open:** ₹8.4
- **Day High:** ₹8.5
- **Day Low:** ₹8.25
- **Previous Close:** ₹8.35
- **Volume:** 0
- **As Of:** 2024-06-28T10:23:57+00:00

## Key Fundamentals

Observed at 2026-09-11T04:30:01.834044Z.

- **P/E (reported):** 0
- **Book Value:** ₹0
- **Price to Book:** 0
- **Dividend Yield:** 0.36%
- **ROE:** 0%
- **ROCE:** 0%
- **Debt to Equity:** 0.03

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.24 times its book value

### Weaknesses

- The company has delivered a poor sales growth of -39.5% over past five years.
- Promoter holding is low: 0.20%
- Company has a low return on equity of -3.99% over last 3 years.
- Contingent liabilities of Rs.2.20 Cr.
- Company has high debtors of 2,123 days.
- Working capital days have increased from 808 days to 1,825 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 97% | 25% | — |
| revenue growth | -82% | -36% | -39% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2020 | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 20.2 | 13.99 | 10.54 | 1.49 | 5.7 | 4.52 | 19.06 | 0.52 | 9.02 | 0.47 | 1.43 | 0.26 |
| Expenses | 19.46 | 13.39 | 10.61 | 4.11 | 10.3 | 4.45 | 19.15 | 1.05 | 12.08 | 0.61 | 1.49 | 0.41 |
| Operating Profit | 0.74 | 0.6 | -0.07 | -2.62 | -4.6 | 0.07 | -0.09 | -0.53 | -3.06 | -0.14 | -0.06 | -0.15 |
| OPM % | 3.66 | 4.29 | -0.66 | -175.84 | -80.7 | 1.55 | -0.47 | -101.92 | -33.92 | -29.79 | -4.2 | -57.69 |
| Other Income | 0.12 | 0.05 | 0.21 | 0.05 | 0.25 | 0.5 | -0.05 | -2.51 | 0.2 | 0.19 | 0.21 | 0.06 |
| Interest | 0.04 | 0.04 | 0.06 | 0.01 | 0.05 | 0.02 | 0.02 | 0.02 | 0.01 | 0 | 0.01 | 0.01 |
| Depreciation | 0.22 | 0.2 | 0.2 | 0.19 | 0.21 | 0.16 | 0.16 | 0.04 | 0.03 | 0.02 | 0.01 | 0.01 |
| Profit before tax | 0.6 | 0.41 | -0.12 | -2.77 | -4.61 | 0.39 | -0.32 | -3.1 | -2.9 | 0.03 | 0.13 | -0.11 |
| Tax % | 70 | 26.83 | 0 | 0 | 0 | 23.08 | -25 | 0 | 0 | 0 | 76.92 | 0 |
| Net Profit | 0.18 | 0.3 | -0.12 | -2.77 | -4.61 | 0.3 | -0.24 | -3.1 | -2.9 | 0.03 | 0.02 | -0.11 |
| EPS in Rs | 0.07 | 0.12 | -0.05 | -1.11 | -1.85 | 0.12 | -0.1 | -1.24 | -1.16 | 0.01 | 0.01 | -0.04 |

### Profit & Loss

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

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 14.99 | 18.03 | 39.58 | 57.41 | 23.4 | 24.39 | 7.19 | 23.58 | 9.54 | 1.9 |
| Expenses | 13.71 | 14.99 | 29.89 | 53.32 | 21.99 | 23.66 | 14.4 | 23.6 | 13.11 | 2.1 |
| Operating Profit | 1.28 | 3.04 | 9.69 | 4.09 | 1.41 | 0.73 | -7.21 | -0.02 | -3.57 | -0.2 |
| OPM % | 8.54 | 16.86 | 24.48 | 7.12 | 6.03 | 2.99 | -100.28 | -0.08 | -37.42 | -10.53 |
| Other Income | 0.44 | 0.1 | 0.3 | 0.43 | 0.17 | 0.26 | 0.3 | 0.45 | -2.32 | 0.4 |
| Interest | 0.6 | 0.53 | 0.33 | 0.08 | 0.09 | 0.3 | 0.06 | 0.04 | 0.03 | 0.01 |
| Depreciation | 0.08 | 0.06 | 0.11 | 0.42 | 0.42 | 0.4 | 0.4 | 0.32 | 0.07 | 0.03 |
| Profit before tax | 1.04 | 2.55 | 9.55 | 4.02 | 1.07 | 0.29 | -7.37 | 0.07 | -5.99 | 0.16 |
| Tax % | 32.69 | 33.33 | 35.08 | 41.79 | 51.4 | 37.93 | 0 | 14.29 | 0 | 62.5 |
| Net Profit | 0.71 | 1.71 | 6.2 | 2.34 | 0.52 | 0.18 | -7.37 | 0.05 | -6 | 0.06 |
| EPS in Rs | 3.94 | 9.5 | 3.39 | 0.94 | 0.21 | 0.07 | -2.96 | 0.02 | -2.4 | 0.02 |
| Dividend Payout % | 21.13 | 0 | 2.42 | 8.72 | 39.23 | 11.33 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 1.5 | 1.5 | 15 | 20.4 | 20.4 | 20.4 | 20.4 | 20.4 | 25 | 25 |
| Reserves | 7.16 | 8.69 | 1.39 | 17.53 | 17.8 | 17.77 | 10.37 | 10.43 | 4.43 | 4.49 |
| Borrowings | 3.34 | 2.67 | 1.41 | 0.48 | 0.7 | 0.51 | 3.62 | 1.83 | 0.97 | 0.97 |
| Other Liabilities | 10.12 | 19.78 | 11.98 | 12.31 | 14.47 | 11.69 | 6.51 | 14.7 | 6.67 | 7.13 |
| Total Liabilities | 22.12 | 32.64 | 29.78 | 50.72 | 53.37 | 50.37 | 40.9 | 47.36 | 37.07 | 37.59 |
| Fixed Assets | 0.2 | 0.15 | 0.39 | 0.69 | 4.46 | 4.35 | 4.42 | 4.3 | 0.38 | 0.11 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.85 | 0 | 0 | 0 | 0.23 | 0.28 | 0.94 | 0.72 | 0.49 | 0.48 |
| Other Assets | 21.07 | 32.49 | 29.39 | 50.03 | 48.68 | 45.74 | 35.54 | 42.34 | 36.2 | 37 |
| Total Assets | 22.12 | 32.64 | 29.78 | 50.72 | 53.37 | 50.37 | 40.9 | 47.36 | 37.07 | 37.59 |

### Cash Flow

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

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 3.01 | 1.24 | 5.93 | -11.59 | 1.95 | 0.14 | 1.02 | -7.63 | -5.2 | -1.29 |
| Cash from Investing Activity | -0.63 | 0 | -7.55 | -6.76 | -0.45 | -0.86 | -1.23 | 7.53 | 2.01 | -0.06 |
| Cash from Financing Activity | -0.64 | -0.76 | 0.22 | 18.09 | -0.08 | -0.42 | 0.11 | -0.15 | 4.49 | 0.09 |
| Net Cash Flow | 1.74 | 0.48 | -1.4 | -0.25 | 1.42 | -1.15 | -0.1 | -0.24 | 1.31 | -1.27 |
| Free Cash Flow | 2.99 | 1.24 | 5.67 | -12.02 | -1.96 | 0.13 | 0.85 | -7.62 | -3.89 | -0.89 |
| CFO/OP | 263 | 51 | 86 | -231 | 225 | 115 | -17 | 37500 | 146 | 645 |

### Ratios

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 118.34 | 300.42 | 120.71 | 68.16 | 305.57 | 135.73 | 321.34 | 194.73 | 379.16 | 2122.76 |
| Inventory Days | 23.95 | 0 | 41.46 | — | — | — | 110.56 | — | 42.25 | 137.66 |
| Days Payable | 133.88 | — | 116.88 | — | — | — | 140.35 | — | 100.39 | 696.63 |
| Cash Conversion Cycle | 8.41 | 300.42 | 45.29 | 68.16 | 305.57 | 135.73 | 291.56 | 194.73 | 321.02 | 1563.79 |
| Working Capital Days | 203.56 | 89.48 | 47.49 | 121.69 | 281.39 | 272.81 | 513.23 | 279.25 | 320.62 | 1825 |
| ROCE % | 14.72 | 24.78 | 64.38 | 14.59 | 3 | 1.52 | -20.01 | 0.33 | -10.85 | 0.03 |

## Shareholding Pattern

### annual

| Category | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Dec 2023 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 69.17% | 70.02% | 62.24% | 0.24% | 0.24% | 0.2% | 0.2% | 0.2% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0.01% | 0.01% |
| Public | 30.83% | 29.98% | 37.76% | 99.77% | 99.76% | 99.8% | 99.79% | 99.79% |
| No. of Shareholders | 464 | 479 | 643 | 3140 | 2716 | 3303 | 3957 | 3956 |

### Quarterly

| Category | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Apr 2023 | Sep 2023 | Dec 2023 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 24.73% | 0.24% | 0.24% | 0.24% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 75.28% | 99.77% | 99.76% | 99.76% | 99.79% | 99.8% | 99.8% | 99.8% | 99.79% | 99.79% | 99.79% | 99.79% |
| No. of Shareholders | 1702 | 3140 | 3006 | 2716 | 2688 | 3303 | 3303 | 4048 | 3957 | 3957 | 3955 | 3956 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 4 / 6 / 9

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 153.67 | Sell |
| EMA (10) | 152.14 | Sell |
| SMA (20) | 153.49 | Sell |
| EMA (20) | 150.71 | Sell |
| SMA (50) | 141.31 | Buy |
| EMA (50) | 146.41 | Buy |
| SMA (100) | 145.7 | Buy |
| EMA (100) | 149.77 | Sell |
| SMA (200) | 164.69 | Sell |
| EMA (200) | 162.86 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 48.85 | Neutral |
| MACD (12,26,9) | 2.87 | Sell |
| Stochastic (14,3,3) | 26.38 | Neutral |
| ADX (14) | 18.87 | Neutral |
| Williams %R (14) | -77.47 | Neutral |
| ATR (14) | 10.62 | High Volatility |
| ROC (12) | -9.4 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 49.81 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 6 November 2025 - EGM approved secured NCD private placement; appointed Falgun Patel (ID) and Tejas Shah as whole-time director from Oct 10, 2025. | [Shareholders meeting 6 November 2025 - EGM approved secured NCD private placement; appointed Falgun Patel (ID) and Tejas Shah as whole-time director from Oct 10, 2025.](https://nsearchives.nseindia.com/corporate/BRIGHT_06112025175237_20251106_Reg_44_VR_Covering_Letter.pdf) |
| 5 November 2025 - EGM held Nov 5, 2025 for proposed secured NCD issuance; appointment of Falgun Patel and Tejas Shah (WTD from Oct 10, 2025). | [Shareholders meeting 5 November 2025 - EGM held Nov 5, 2025 for proposed secured NCD issuance; appointment of Falgun Patel and Tejas Shah (WTD from Oct 10, 2025).](https://nsearchives.nseindia.com/corporate/BRIGHT_05112025172238_20251105_Reg_30_Proceedings_of_EGM.pdf) |
| 30 May - PIT compliance certificate for FY ended 31 March 2025 confirms SDD maintained; 9 events captured. | [Structural Digital Database 30 May - PIT compliance certificate for FY ended 31 March 2025 confirms SDD maintained; 9 events captured.](https://nsearchives.nseindia.com/corporate/BRIGHT_30052026141352_20260331_PCSJPA_SDD_Q4_BSL.pdf) |
| 30 March 2026 - EGM on April 20, 2026 to approve PPIRP, ₹1.50 crore NCDs, slump sale, and MD re-designation. | [Shareholders meeting 30 March 2026 - EGM on April 20, 2026 to approve PPIRP, ₹1.50 crore NCDs, slump sale, and MD re-designation.](https://nsearchives.nseindia.com/corporate/BRIGHT_30032026144449_20260330_SE_Covering_Notice.pdf) |
| 28 January 2026 - Reconciliation of share capital audit for quarter ended 31 Dec 2025; issued capital 5,479,600 shares, auditor Sharad Vyas, NSE Emerge listing. | [Updates 28 January 2026 - Reconciliation of share capital audit for quarter ended 31 Dec 2025; issued capital 5,479,600 shares, auditor Sharad Vyas, NSE Emerge listing.](https://nsearchives.nseindia.com/corporate/VERTEXPLUS_28012026154509_RSCA_REPORT_Upload.pdf) |
| 28 April 2026 - Fire broke out at registered office on 27 April 2026; operations temporarily suspended, no casualties. | [Disruption of Operations 28 April 2026 - Fire broke out at registered office on 27 April 2026; operations temporarily suspended, no casualties.](https://nsearchives.nseindia.com/corporate/BRIGHT_28042026145618_20260427_Reg_30_Fire_Incident.pdf) |
| 27 March 2026 - Bright Solar: trading window closed from 1 April 2026 until 48 hours after FY2026 results declared. | [Trading Window 27 March 2026 - Bright Solar: trading window closed from 1 April 2026 until 48 hours after FY2026 results declared.](https://nsearchives.nseindia.com/corporate/BRIGHT_27032026195309_20260327_TW_Mar_2026_Covering_Letter.pdf) |
| 24 October 2025 - GST dispute initiated 26-02-2024; appeal against 16-04-2024 demand filed, pending. | [Integrated Filing- Governance 24 October 2025 - GST dispute initiated 26-02-2024; appeal against 16-04-2024 demand filed, pending.](https://nsearchives.nseindia.com/corporate/VERTEXPLUS_24102025114307_Integrated_Governance.pdf) |
| 23 Jul - Company Secretary and Compliance Officer Anand Lohia ceased from 13 July 2026, citing career opportunities. | [General Updates 23 Jul - Company Secretary and Compliance Officer Anand Lohia ceased from 13 July 2026, citing career opportunities.](https://nsearchives.nseindia.com/corporate/BRIGHT_23072026185348_20260723_Reg_30_Cessation_of_CS_Add.pdf) |
| 23 January 2026 - Compliance certificate under Regulation 74(5) for quarter ended Dec 31, 2025 from RTA. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 23 January 2026 - Compliance certificate under Regulation 74(5) for quarter ended Dec 31, 2025 from RTA.](https://nsearchives.nseindia.com/corporate/BRIGHT_23012026204440_20251231_Reg_74_Covering_Letter.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27925_VERTEXPLUS_2024_2025_A_7506339_29082025212437.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26172_BRIGHT_2023_2024_07092024184444.pdf) |
| from nse | [Financial Year 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25690_VERTEXPLUS_2023_2024_0409202417249.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23854_BRIGHT_2022_2023_08092023175329_09082023180016.zip) |
| from nse | [Financial Year 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23946_VERTEXPLUS_2022_2023_17102023185618_10172023190002.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21735_BRIGHT_2021_2022_08092022185800.xml) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19169_BRIGHT_2020_2021_02092021145115_09022021150014.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17131_BRIGHT_2019_2020_02092020143253_02092020150002.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_16054_BRIGHT_2018_2019_27092019103357_27092019110004.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_14128_BRIGHT_2017_2018_06102018134053.zip) |

---

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 2026-09-13T19:16:33.664Z.