Greenzo Energy India Ltd. - Unlisted Shares
Fundamentals
- Current Price
- ₹590
- Market Cap
- ₹692.23 Cr
- ISIN
- INE0OA401013
- Face Value
- ₹10
- P/E Ratio
- 508.62
- EPS
- 1.16
- P/B Ratio
- 9.01
- Book Value
- 65.49
- Debt / Equity Ratio
- 0.0
Key Financials
Profit & Loss
| Metric | FY2025 | FY2024 |
|---|---|---|
| Revenue from Operations | 15.97 | 14.79 |
| Operating Expenses | 15.02 | 13.53 |
| Operating Profit | 0.95 | 1.26 |
| Op. Profit Margin % | 2.18% | 8.52% |
| Other Income | 1.29 | 0.10 |
| Finance Costs | 0.02 | 0 |
| Depreciation | 0.29 | 0.04 |
| Profit Before Tax | 1.94 | 1.31 |
| Tax | 0.58 | 0.31 |
| Tax % | 29.71% | 2.10% |
| Profit After Tax | 1.37 | 1.00 |
| Growth % | 35.88% | - |
| PAT % | 8.55% | 6.76% |
| Diluted EPS | 1.16 | 1.81 |
Company Financials
| Metric | FY2025 | FY2024 |
|---|---|---|
| Equity Capital | 11.85 | 10.93 |
| Reserves | 65.62 | 44.49 |
| Total Equity | 77.48 | 55.42 |
| Borrowings | 0 | 0.51 |
| Other Non-Current Liabilities | 0.01 | 0.00 |
| Total Non current Liabilities | 0.01 | 0.51 |
| Trade payables | 3.42 | 6.28 |
| Other Current Liabilities | 0.99 | 1.65 |
| Total current Liabilities | 4.41 | 7.93 |
| Equity + Liabilities | 81.90 | 63.86 |
| Fixed Assets (incl. WIP) | 20.58 | 5.27 |
| Other Non Current Assets | 0.00 | 0.03 |
| Total Non current Assets | 20.58 | 5.30 |
| Cash & Cash Equivalents43.82 | 5.06 | 43.82 |
| Other Current Assets | 56.25 | 14.74 |
| Total current Assets | 61.31 | 58.56 |
| Total Assets | 81.89 | 63.86 |
Shareholding Pattern
- Sandeep Agarwal
- 34%%
- Kokila Agarwal
- 33%%
- Kushal Agarwal
- 17%%
- Others
- 17%%
Strengths & Weaknesses
Strengths
- Innovative Technology: Greenzo Energy leverages advanced technologies such as hydrogen fuel cells developed in partnership with EODev, positioning itself at the forefront of clean energy solutions.
- Full-Value Chain Provider: The company operates across the entire value chain of green hydrogen, from development to operation and maintenance, which enhances its market presence and customer trust.
- Surging Order Book with Marquee Clientele: GEIL has orderbook of Rs. 1,200 crore as of September 2024, and estimated order book around Rs.1800 crore in 2025.
- Local Assembly and Distribution: The ability to assemble products locally allows for quicker deployment and adaptation to regional needs, enhancing operational efficiency
- Debt-Free Balance Sheet with Strong Liquidity: As of FY25, GEIL has fully retired its long-term borrowings, and is carrying a near-zero debt-to-equity ratio. The current ratio stands at ~14x in FY25.
- Increasing Capex Investments: Fixed assets nearly quadrupled from Rs. 5.27 Cr in FY24 to Rs. 20.58 Cr in FY25. Greenzo is also establishing a state-of-the-art 250 MW per annum electrolyzer manufacturing plant in Ahmedabad
Weaknesses
- Market Penetration: As a relatively new entrant in the hydrogen market, Greenzo may face challenges in establishing a strong foothold against more established competitors.
- Decreasing Margins: EBITDA margin collapsed from ~8% in FY24 to ~6% in FY25, as operating expenses grew ~15% YoY while revenue grew only 7.9%.
- Revenue Scale Severely Lags Order Book: Despite an large order book of ~Rs. 1800+ crore in FY25, revenue from operations was only Rs. 15.97 Cr. While the company is still relatively new, this raises some questions about project execution pace, commissioning timelines, and working capital management.
About Greenzo Energy India Ltd.
Greenzo Energy is a globally recognized leader in the design, development, and manufacturing of advanced alkaline water electrolyzer systems, supporting the transition to a hydrogen-powered future.Founded by seasoned professionals with extensive experience in renewable energy and engineering machinery manufacturing, the company brings deep industry expertise to every project. In addition to its core hydrogen solutions, Greenzo Energy also operates as an EPC (Engineering, Procurement, and Construction) provider in the domains of solar and green hydrogen, offering end-to-end solutions that drive sustainable energy development across the globe.
Board of Directors
- Sandeep Agarwal - Founder and Managing Director
- Amit Singal - Independent DIrector
- Kushal Agarwal - Executive Director
Senior Management
- Raj Agarwal - Founding Member
- Shreya Agarwal - Strategy and Finance Executive
- Aditya Gupta - R and D Executive
Frequently Asked Questions
- Is there any lock in period for Greenzo Energy India Ltd. unlisted shares?
- The lock-in period for Greenzo Energy India Ltd. Unlisted Shares differs based on the investor category, as per SEBI regulations:
●Venture Capital Funds and Foreign Venture Capital Investors (FVCIs): A lock-in period of 6 months from the date of acquisition of the shares.
●Alternative Investment Funds – Category II (AIF-II): No lock-in period is applicable.
●Other investors (including retail investors, high net-worth individuals (HNIs), and body corporates): A lock-in period of 6 months from the date of IPO listing of Greenzo Energy India Ltd..
These norms were introduced by SEBI in August 2021, reducing the earlier lock-in requirement from one year to six months. The change was aimed at improving liquidity and encouraging investor participation in companies preparing for public listings. Since then, interest in pre-IPO investments has increased, with investors exploring opportunities to participate in companies ahead of their potential listing. - How much long term capital gains tax do I have to pay on Greenzo Energy India Ltd. unlisted shares?
- Long-Term Capital Gains (LTCG) on Unlisted Shares in India arise when such shares are sold after being held for a period of more than two years. The key aspects of LTCG taxation on Greenzo Energy India Ltd. unlisted shares are outlined below:
1. Tax Rate
Earlier, LTCG on unlisted shares was taxed at 20% with indexation benefits. However, as per Union Budget 2024, the tax structure has been revised. For transfers made on or after 23rd July 2024, LTCG on unlisted shares is taxed at a flat rate of 12.5%.
2. Indexation Benefit
Previously, investors could avail indexation benefits to adjust the purchase price for inflation, thereby reducing taxable gains. This indexation benefit has been removed under Budget 2024 for unlisted shares transferred on or after 23rd July 2024
. 3. Importance for Investors
Understanding LTCG taxation is important for both retail investors and High Net-Worth Individuals (HNIs), as it directly impacts investment returns, exit planning, and overall tax strategy.
4. Calculation Method
For eligible transactions after 23rd July 2024, LTCG will be calculated at a flat tax rate of 12.5% on the capital gains, without indexation.
5. Applicability
LTCG tax is applicable when unlisted shares are held for more than 24 months before being sold.
6. Relevance
These tax provisions are particularly relevant for investors in the unlisted share market who are considering exiting their investments after a long-term holding period. - How do I start investing in Greenzo Energy India Ltd. unlisted shares through InCred Money?
- Buying Greenzo Energy India Ltd. Unlisted Shares on InCred Money is quick, seamless, and fully digital.
Step 1: Create Your Account
Sign up using your mobile number and email ID. Complete your KYC by submitting your PAN, Aadhaar, bank account, and demat account details. Once submitted, your KYC is reviewed and approved.
Step 2: Select & Buy Shares Browse and select Greenzo Energy India Ltd. from our Unlisted Shares list and place your order.
Step 3: Share Transfer Based on the settlement period for the shares noted on the platform, the purchased shares are transferred and reflected in both your InCred Money portfolio and your demat account. - What documents are needed to invest in Greenzo Energy India Ltd. unlisted shares?
- To invest in Greenzo Energy India Ltd. Unlisted Shares on InCred Money, you need to complete your The lock-in period for Greenzo Energy India Ltd. Unlisted Shares differs based on the investor category, as per SEBI regulations:
●Venture Capital Funds and Foreign Venture Capital Investors (FVCIs): A lock-in period of 6 months from the date of acquisition of the shares.
●Alternative Investment Funds – Category II (AIF-II): No lock-in period is applicable.
●Other investors (including retail investors, high net-worth individuals (HNIs), and body corporates): A lock-in period of 6 months from the date of IPO listing of Greenzo Energy India Ltd..
These norms were introduced by SEBI in August 2021, reducing the earlier lock-in requirement from one year to six months. The change was aimed at improving liquidity and encouraging investor participation in companies preparing for public listings. Since then, interest in pre-IPO investments has increased, with investors exploring opportunities to participate in companies ahead of their potential listing.KYC verification by submitting the following documents:
●PAN Card
●Aadhaar Card
●Bank account details
●Demat account details
Once your KYC is successfully completed and approved, you can start investing in unlisted shares on the platform.