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Sahaj Solar (SAHAJSOLAR)₹79.00−1.37%Other Electrical Equipment
In the Mar 2026 quarter (consolidated), Sahaj Solar reported sales of ₹308 Cr, up 32.8% from Mar 2025, and net profit of ₹25.06 Cr, up 8.8% year on year. For the year to Mar 2026, sales were ₹419 Cr and net profit ₹30.08 Cr.
Company filings, consolidated accounts; latest reported quarter Mar 2026
| Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 60.94 | 140 | 97.98 | 232 | 111 | 308 |
| Expenses | 56.85 | 120 | 89.68 | 197 | 99.72 | 266 |
| Operating Profit | 3.98 | 19.93 | 7.97 | 33.88 | 10.95 | 40.85 |
| OPM % | 7.0% | 13.9% | 8.9% | 14.9% | 9.9% | 12.9% |
| Other Income | 0.00 | 0.00 | 0.99 | 0.00 | 0.00 | 0.99 |
| Interest | 1.01 | 3.01 | 2.01 | 2.01 | 4.01 | 8.02 |
| Depreciation | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 |
| Profit before tax | 2.99 | 16.94 | 5.97 | 31.87 | 6.98 | 33.85 |
| Tax % | 39.0% | 30.0% | 22.0% | 27.0% | 25.0% | 26.0% |
| Net Profit | 2.01 | 12.02 | 5.01 | 23.03 | 5.01 | 25.06 |
| EPS (Rs) | 1.18 | 7.05 | 2.15 | 10.41 | 2.34 | 11.16 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 61.94 | 66.91 | 185 | 201 | 330 | 419 |
| Expenses | 58.86 | 62.79 | 173 | 176 | 287 | 366 |
| Operating Profit | 2.99 | 3.98 | 10.96 | 23.92 | 41.85 | 51.80 |
| OPM % | 5.0% | 6.0% | 6.0% | 11.9% | 12.9% | 11.9% |
| Other Income | 0.00 | 0.99 | 0.00 | 0.99 | 0.99 | 1.99 |
| Interest | 1.01 | 2.01 | 2.01 | 4.01 | 4.01 | 11.03 |
| Depreciation | 0.99 | 0.99 | 0.99 | 0.99 | 0.99 | 1.99 |
| Profit before tax | 0.99 | 0.99 | 8.97 | 19.93 | 37.84 | 40.82 |
| Tax % | 29.0% | 28.0% | 24.0% | 32.0% | 26.0% | 26.0% |
| Exceptional items | −0.11 | 0.23 | 0.04 | 0.00 | 0.00 | 0.00 |
| Net Profit | 1.01 | 1.01 | 6.01 | 13.03 | 28.04 | 30.08 |
| EPS (Rs) | 0.59 | 0.99 | 4.05 | 8.20 | 12.56 | 13.50 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 5.02 | 4.99 | 7.99 | 8.02 | 11.03 | 22.06 |
| Reserves | 4.00 | 4.99 | 8.96 | 25.03 | 98.06 | 116 |
| Borrowings | 15.02 | 16.99 | 13.98 | 57.10 | 57.09 | 176 |
| Other Liabilities | 10.04 | 34.16 | 61.29 | 60.28 | 139 | 167 |
| Total Liabilities | 35.08 | 61.13 | 91.22 | 149 | 305 | 480 |
| Fixed Assets | 10.04 | 8.03 | 8.03 | 7.02 | 6.02 | 24.10 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 11.03 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 25.04 | 53.10 | 83.19 | 142 | 299 | 446 |
| Inventories | 9.99 | 10.99 | 11.99 | 14.98 | 22.99 | 22.99 |
| Trade receivables | 8.99 | 36.96 | 53.97 | 88.89 | 198 | 323 |
| Cash & equivalents | 1.99 | 0.99 | 2.99 | 11.99 | 9.99 | 9.99 |
| Total Assets | 35.08 | 61.13 | 91.22 | 149 | 305 | 480 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from operating activity | 4.01 | −2.01 | 9.99 | −35.01 | −47.02 | −78.08 |
| Cash from investing activity | −2.01 | 0.00 | −1.01 | 0.00 | 0.00 | −29.07 |
| Cash from financing activity | −1.99 | 0.99 | −6.99 | 43.88 | 44.90 | 108 |
| Net cash flow | 0.00 | −1.01 | 1.01 | 9.03 | −2.01 | 0.00 |
| Capex | 2.34 | 0.90 | 0.29 | 0.55 | 0.65 | 18.85 |
| Free cash flow | 1.99 | −2.99 | 8.99 | −34.95 | −46.90 | −108 |
| CFO / OP % | 132.0% | −35.0% | 117.0% | −116.0% | −86.0% | −151.0% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor days | 52 | 203 | 105 | 160 | 218 | 280 |
| Inventory days | 72 | 74 | 27 | 37 | 32 | 27 |
| Days payable | 59 | 210 | 124 | 103 | 168 | 131 |
| Cash conversion cycle | 64 | 67 | 8 | 94 | 83 | 176 |
| Working capital days | 20 | 39 | 17 | 5 | 72 | 61 |
| ROCE % | — | 10.9% | 36.0% | 39.0% | 32.9% | 22.0% |
For the Mar 2026 quarter, Sahaj Solar reported sales of ₹308 Cr, up 32.8% year on year and net profit of ₹25.06 Cr, up 8.8% year on year. The operating margin was 12.9%.
Sahaj Solar's sales for the year to Mar 2026 were ₹419 Cr.
Net profit for the year to Mar 2026 was ₹30.08 Cr. Earnings per share over the same trailing period were ₹13.50.
Sahaj Solar reported borrowings of ₹176 Cr at Mar 2026, against cash and equivalents of ₹9.99 Cr.
Cash from operations was −₹78.08 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹108 Cr.