GH2 Solar Unlisted Share
BUY
₹1,100.00
SELL
₹1,175.00
About GH2 Solar Unlisted Share
About
GH2 Solar Limited, founded in 1995 (public entity since 2013), is a Noida-based renewable energy company engaged in solar EPC, open-access energy, green hydrogen production, and electrolyzer manufacturing. Despite being unfunded, it ranks 44th among 315 competitors and employs around 54 professionals. Led by Anurag Jain (Founder & CEO), the firm has commissioned a green hydrogen demo plant, won SECI’s electrolyzer manufacturing tender, and remains strategically aligned with India’s net-zero mission.
2. Business Divisions
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Solar EPC & Open-Access Solutions: Provides turnkey solar EPC and open-access power supply tailored for commercial and industrial clients.
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Green Hydrogen & Electrolyzers: Engages in hydrogen production, electrolyzer manufacturing, and hydrogen mobility applications.
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Operations & Maintenance (O&M): Offers customized installation, maintenance, and flexible financing models through PPAs and open-access frameworks.
Financial Highlights
Key Performance (₹ in lakhs)
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Revenue grew from ₹1,731 (2022) to ₹21,209 (2025), driven by scaling hydrogen and solar projects.
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Gross Margins improved to 17.48% in 2025, reflecting better cost management and project efficiency.
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EBITDA surged from ₹95 (2022) to ₹2,838 (2025), indicating strong operating performance.
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Operating Profit Margin (OPM) increased from 5.49% (2022) to 13.38% (2025), showing improved scalability.
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PAT rose from ₹58.5 (2022) to ₹2,007 (2025), with NPM reaching 9.46%.
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EPS stood at ₹46.78 in 2025 despite equity dilution from recent issuances.
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Finance Cost & D&A climbed with expansion, but EBIT margins strengthened to 13.24% in 2025.
Pros
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Strong revenue growth with improving profitability margins.
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Alignment with government-backed SECI programs ensures policy credibility.
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Diversified across solar EPC, hydrogen, and electrolyzer manufacturing.
Cons
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Rising finance costs could pressure profitability.
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EPS decline from equity dilution.
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High dependency on industrial and commercial clients may limit retail diversification
