---
title: "Ganesh Green Bharat Ltd (GGBL) — Share Price, Financials & Analysis"
symbol: "GGBL"
company: "Ganesh Green Bharat Ltd"
canonical: "https://tapetide.com/stocks/GGBL"
isin: "INE0R8C01018"
nse_symbol: "GGBL"
sector: "Capital Goods"
industry: "Other Electrical Equipment"
market_cap_cr: 527.02
generated_at: "2026-09-13T19:41:16.897Z"
---

# Ganesh Green Bharat Ltd (GGBL)

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

## Company

- **NSE Symbol:** GGBL
- **ISIN:** INE0R8C01018
- **Sector:** Capital Goods
- **Industry:** Other Electrical Equipment
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2024-07-12
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** ganeshgreen.com

## About

Incorporated in 2016, Ganesh Green Bharat 
 Ltd specializes in Solar PV Module manufacturing, Solar Systems and Allied Services, Electrical Contracting, and Water Supply Scheme 
Projects[1]

## Latest Price

- **Price:** ₹215.5
- **Change:** -0.05 (-0.02%)
- **Open:** ₹217.3
- **Day High:** ₹217.65
- **Day Low:** ₹209
- **Previous Close:** ₹215.55
- **Volume:** 23700
- **As Of:** 2026-09-11T09:59:47+00:00

## Key Fundamentals

Observed at 2026-09-11T04:40:57.044094Z.

- **Market Cap:** ₹527.02 Cr
- **Classification:** SME
- **P/E (reported):** 7.1
- **Book Value:** ₹113.02
- **Price to Book:** 1.91
- **Dividend Yield:** 0.23%
- **ROE:** 14.71%
- **ROCE:** 20.71%
- **Debt to Equity:** 0.18
- **Revenue (yearly):** ₹1064.27 Cr
- **Net Income:** ₹75.2 Cr
- **EBITDA:** ₹110.26 Cr
- **52-Week High:** ₹475
- **52-Week Low:** ₹209.4
- **RSI (14):** 33.9

## Tapetide Score

- **Score:** 65 / 100
- **Score date:** 2026-09-04
- **Archetype:** Out of Favour
- **What it means:** Financially sound, yet the market is not rewarding it. Cases like this usually need a specific reason the pessimism is misplaced, and patience for that reason to play out.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Falling
- **Percentile:** 96.7 (of 4473 scored stocks)
- **Confidence:** 86%
- **Data coverage:** 71%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 53.57 | 9% |
| growth | 98.9 | 9% |
| momentum | 16.14 | 12% |
| ownership | 66.3 | 24% |
| quality | 68.91 | 22% |
| valuation | 73.61 | 24% |

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

## Key Insights

### Strengths

- Company has delivered good profit growth of 59.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.4%
- Debtor days have improved from 60.8 to 24.5 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -215.57% | — | 26.85% |
| ebitda margin growth | -34.84% | -51.61% | 11.64% |
| net income growth | 147.37% | 110% | 60% |
| revenue growth | 230.72% | 132% | 66% |
| roce | -53.07% | -31.31% | 31.04% |
| roe | -60.4% | 25% | -36.46% |

## 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 | 77 | 89 | 133 | 181 | 339 | 725 |
| Expenses | 72 | 71 | 114 | 154 | 291 | 662 |
| Operating Profit | 5 | 19 | 19 | 27 | 47 | 62 |
| OPM % | 7 | 21 | 14 | 15 | 14 | 9 |
| Other Income | 0 | 0 | 1 | 0 | 1 | 0 |
| Interest | 2 | 2 | 2 | 1 | 2 | 3 |
| Depreciation | 0 | 1 | 1 | 2 | 3 | 4 |
| Profit before tax | 3 | 16 | 17 | 23 | 43 | 55 |
| Tax % | 28 | 26 | 28 | 26 | 24 | 23 |
| Net Profit | 2 | 12 | 13 | 17 | 33 | 42 |
| EPS in Rs | 1.3 | 6.61 | 5.05 | 6.89 | 13.23 | 17.07 |

### Profit & Loss

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 83 | 106 | 85 | 166 | 311 | 1065 |
| Expenses | 73 | 97 | 71 | 142 | 267 | 954 |
| Operating Profit | 11 | 9 | 14 | 24 | 44 | 111 |
| OPM % | 13 | 9 | 16 | 15 | 14 | 10 |
| Other Income | 1 | 1 | 0 | 1 | 4 | 0 |
| Interest | 1 | 2 | 3 | 4 | 4 | 5 |
| Depreciation | 0 | 1 | 1 | 1 | 3 | 7 |
| Profit before tax | 10 | 7 | 11 | 20 | 41 | 98 |
| Tax % | 26 | 26 | 26 | 27 | 27 | 23 |
| Net Profit | 7 | 5 | 8 | 14 | 30 | 75 |
| EPS in Rs | 59.92 | 43.17 | 67.83 | 7.91 | 11.94 | 30.3 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 1 | 1 | 1 | 18 | 25 | 25 |
| Reserves | 21 | 26 | 34 | 34 | 174 | 249 |
| Borrowings | 10 | 23 | 27 | 41 | 40 | 50 |
| Other Liabilities | 34 | 40 | 25 | 36 | 77 | 150 |
| Total Liabilities | 67 | 89 | 88 | 128 | 316 | 474 |
| Fixed Assets | 1 | 2 | 2 | 7 | 33 | 38 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 66 | 88 | 86 | 121 | 283 | 436 |
| Total Assets | 67 | 89 | 88 | 128 | 316 | 474 |

### Cash Flow

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -4 | -8 | -4 | 23 | -40 | 13 |
| Cash from Investing Activity | -2 | -1 | -1 | -35 | -43 | -23 |
| Cash from Financing Activity | -2 | 9 | 5 | 12 | 114 | 4 |
| Net Cash Flow | -8 | 0 | 0 | 0 | 30 | -6 |
| Free Cash Flow | -5 | -9 | -5 | 16 | -69 | 0 |
| CFO/OP | -12 | -68 | -9 | 105 | -79 | 21 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 38 | 77 | 84 | 90 | 68 | 25 |
| Inventory Days | 66 | 31 | 90 | 104 | 170 | 67 |
| Days Payable | 231 | 81 | 110 | 78 | 67 | 32 |
| Cash Conversion Cycle | -126 | 26 | 64 | 116 | 171 | 60 |
| Working Capital Days | 62 | 75 | 153 | 26 | 104 | 53 |
| ROCE % | — | 23 | 24 | 31 | 27 | 37 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Promoters | 73.42% | 73.42% | 73.42% | 73.42% |
| FIIs | 3.06% | 1.45% | 1.41% | 0% |
| DIIs | 0.34% | 0% | 0% | 0.76% |
| Government | 0% | 0% | 0% | 0% |
| Public | 17.68% | 21.2% | 21.94% | 23.46% |
| Others | 5.49% | 3.93% | 3.24% | 2.36% |
| No. of Shareholders | 4308 | 5607 | 5501 | 5522 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 4 / 11

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 219.59 | Sell |
| EMA (10) | 219.7 | Sell |
| SMA (20) | 226.46 | Sell |
| EMA (20) | 226.32 | Sell |
| SMA (50) | 244.97 | Sell |
| EMA (50) | 245.23 | Sell |
| SMA (100) | 283.29 | Sell |
| EMA (100) | 266.23 | Sell |
| SMA (200) | 289.57 | Sell |
| EMA (200) | 295.01 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 33.87 | Neutral |
| MACD (12,26,9) | -9.36 | Buy |
| Stochastic (14,3,3) | 15.39 | Buy |
| ADX (14) | 30.55 | Buy |
| Williams %R (14) | -81.05 | Buy |
| ATR (14) | 9.44 | High Volatility |
| ROC (12) | -5.79 | Sell |
| Stoch RSI (14) | 65.07 | Neutral |
| UO (7,14,28) | 42.47 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Jul - Company clarified deviation report and segment reporting are not applicable; submitted legible audited financial results. | [Reply to Clarification- Financial results 9 Jul - Company clarified deviation report and segment reporting are not applicable; submitted legible audited financial results.](https://nsearchives.nseindia.com/corporate/GANESH_01072026192707_Clarification_Letter21052026.pdf) |
| 8 Sep - 7th AGM on September 29, 2026 via VC/OAVM; remote e-voting September 25-28, 2026. | [Copy of Newspaper Publication 8 Sep - 7th AGM on September 29, 2026 via VC/OAVM; remote e-voting September 25-28, 2026.](https://nsearchives.nseindia.com/corporate/GANESH_08092026141901_copyofnewspaper08092026.pdf) |
| 8 Jul - Reported 1 unresolved investor complaint and corporate governance non-applicability for quarter ended June 2026. | [Integrated Filing- Governance 8 Jul - Reported 1 unresolved investor complaint and corporate governance non-applicability for quarter ended June 2026.](https://nsearchives.nseindia.com/corporate/GANESH_08072026171137_NonapplicabilityofCorporateGovernanceReportandReg_13.pdf) |
| 8 January 2026 - Certificate under Reg 74(5) for quarter ended 31 Dec 2025 confirming dematerialisation/rematerialisation details. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 January 2026 - Certificate under Reg 74(5) for quarter ended 31 Dec 2025 confirming dematerialisation/rematerialisation details.](https://nsearchives.nseindia.com/corporate/GANESH_08012026115411_CertificateofReg74_5_Dec2025.pdf) |
| 7 Sep - 7th AGM on 29 Sep 2026 via VC/OAVM; approves FY26 accounts, dividend, CMD reappointment and related-party resolutions. | [Shareholders meeting 7 Sep - 7th AGM on 29 Sep 2026 via VC/OAVM; approves FY26 accounts, dividend, CMD reappointment and related-party resolutions.](https://nsearchives.nseindia.com/corporate/GANESH_07092026182739_Annual_Report_2025-26_GGBL.pdf) |
| 7 Jul - KFin issued Regulation 74(5) certificates for quarter ended June 30, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 Jul - KFin issued Regulation 74(5) certificates for quarter ended June 30, 2026.](https://nsearchives.nseindia.com/corporate/GANESH_07072026145902_CertificateREG74_5_30062026.pdf) |
| 7 Jul - Ganesh Green Bharat Limited has informed about Certificate under SEBI (Depositories and Participants) Regulations, 2018 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 Jul - Ganesh Green Bharat Limited has informed about Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/GANESH_07072026151242_CERTIFICATEREG76SEBIDP30062026.pdf) |
| 6 April 2026 - Regulation 74(5) certificate submitted for quarter ended 31 March 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 6 April 2026 - Regulation 74(5) certificate submitted for quarter ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/GANESH_06042026142636_CertificateunderREG74_5_OFSEBI.pdf) |
| 5 Sep - Rajendrakumar Patel and Niravkumar Patel reappointed as Whole Time Directors for three years from 25 Oct 2026. | [Appointment 5 Sep - Rajendrakumar Patel and Niravkumar Patel reappointed as Whole Time Directors for three years from 25 Oct 2026.](https://nsearchives.nseindia.com/corporate/GANESH_05092026163104_OUTCOME_OF_BOARD_MEETING_05092026.pdf) |
| 5 Sep - Board reappoints Rajendrakumar Patel and Niravkumar Patel as Whole Time Directors from 25 Oct 2026 to 24 Oct 2029. | [Appointment 5 Sep - Board reappoints Rajendrakumar Patel and Niravkumar Patel as Whole Time Directors from 25 Oct 2026 to 24 Oct 2029.](https://nsearchives.nseindia.com/corporate/GANESH_05092026163447_OUTCOME_OF_BOARD_MEETING_05092026.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31752_GGBL_2025_2026_A_32058108_07092026184229.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29115_GGBL_2024_2025_A_3255538_17092025152231.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/GANESH_19112025202710_Investorpresentation20112025.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/GANESH_26112025142535_Intimationoftranscriptearningcallconference.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://nsearchives.nseindia.com/corporate/GGBL_19112024181750_intimationoftranscriptearningcall.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://nsearchives.nseindia.com/corporate/GANESH_17062025165243_transcriptofcallconference.pdf) |
| Jul 2024 | [Concall - Jul 2024](https://nsearchives.nseindia.com/corporate/GGBL_30072024141613_Investorpresentation30072024.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://nsearchives.nseindia.com/corporate/GANESH_23082025105143_Investorpresentation24082025.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 2026-09-13T19:41:16.897Z.