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Last Updated: April 2, 2026, 4:02 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543941 | NSE: AHASOLAR

Ahasolar Technologies Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹31.29Overvalued by 53.99%vs CMP ₹68.00

P/E (12.1) × ROE (6.7%) × BV (₹47.30) × DY (2.00%)

₹45.19Overvalued by 33.54%vs CMP ₹68.00
MoS: -50.5% (Negative)Confidence: 54/100 (Moderate)Models: 2 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹11.6325%Over (-82.9%)
Graham NumberEarnings₹77.2718%Under (+13.6%)
Earnings PowerEarnings₹3.1012%Over (-95.4%)
DCFCash Flow₹55.0215%Over (-19.1%)
Net Asset ValueAssets₹47.218%Over (-30.6%)
Earnings YieldEarnings₹56.108%Over (-17.5%)
ROCE CapitalReturns₹1.548%Over (-97.7%)
Revenue MultipleRevenue₹189.436%Under (+178.6%)
Consensus (8 models)₹45.19100%Overvalued
Key Drivers: EPS CAGR -62.8% drags value — could be higher if earnings stabilize. | Wide model spread (₹2–₹189) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -62.8%

*Investments are subject to market risks

Investment Snapshot

51
Ahasolar Technologies Ltd scores 51/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health57/100 · Moderate
ROCE 6.2% WeakROE 6.7% AverageD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 37.0% Stable
Earnings Quality40/100 · Moderate
OPM contracting (8% → -2%) Declining
Quarterly Momentum40/100 · Moderate
Revenue (4Q): +14% YoY GrowingProfit (4Q): -121% YoY DecliningOPM: -9.1% (down 3.1% YoY) Margin pressure
Industry Rank75/100 · Strong
P/E 12.1 vs industry 194.9 Cheaper than peersROCE 6.2% vs industry 9.7% Average3Y sales CAGR: 31% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:02 am

Market Cap 21.0 Cr.
Current Price 68.0
Intrinsic Value₹45.19
High / Low 136/58.9
Stock P/E12.1
Book Value 47.3
Dividend Yield0.00 %
ROCE6.23 %
ROE6.70 %
Face Value 10.0
PEG Ratio-0.19

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Ahasolar Technologies Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Ahasolar Technologies Ltd 21.0 Cr. 68.0 136/58.912.1 47.30.00 %6.23 %6.70 % 10.0
Pace E-Commerce Ventures Ltd 31.9 Cr. 14.1 34.2/12.77.79 34.80.00 %6.53 %4.44 % 10.0
Intrasoft Technologies Ltd 97.2 Cr. 59.6 121/54.07.78 1500.00 %6.21 %5.87 % 10.0
Add-Shop E-Retail Ltd 17.6 Cr. 6.21 12.0/5.5716.6 40.00.00 %4.26 %3.03 % 10.0
Nandani Creation Ltd 52.4 Cr. 27.4 51.0/24.431.9 33.50.00 %11.2 %7.85 % 10.0
Industry Average101,789.00 Cr268.67194.9092.790.00%9.70%10.97%8.00

All Competitor Stocks of Ahasolar Technologies Ltd

Quarterly Result

MetricSep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Sales 9.8511.0312.8929.1623.0715.923.74
Expenses 9.579.5213.6628.5226.0014.084.08
Operating Profit 0.281.51-0.770.64-2.931.84-0.34
OPM % 2.84%13.69%-5.97%2.19%-12.70%11.56%-9.09%
Other Income 0.000.010.130.350.260.240.49
Interest 0.000.000.000.000.030.050.04
Depreciation 0.040.180.130.170.180.200.26
Profit before tax 0.241.34-0.770.82-2.881.83-0.15
Tax % 33.33%-6.72%0.00%1.22%0.00%-1.64%-13.33%
Net Profit 0.161.43-0.770.81-2.881.86-0.13
EPS in Rs 1.356.32-2.502.63-9.346.03-0.42

Last Updated: December 28, 2025, 7:35 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 4:17 am

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 0.000.181.291.8817.3020.8742.0439.0019.66
Expenses 0.010.181.271.7716.1919.0842.1640.1018.16
Operating Profit -0.010.000.020.111.111.79-0.12-1.101.50
OPM % 0.00%1.55%5.85%6.42%8.58%-0.29%-2.82%7.63%
Other Income 0.000.000.000.000.010.010.480.510.73
Interest 0.000.000.000.000.000.000.010.080.09
Depreciation 0.000.000.000.000.030.210.300.380.46
Profit before tax -0.010.000.020.111.091.590.05-1.051.68
Tax % 0.00%0.00%27.27%27.52%-0.63%20.00%-2.86%
Net Profit -0.010.010.020.080.791.600.04-1.021.73
EPS in Rs -100.0010.0020.0080.00790.007.070.13-3.315.61
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)200.00%100.00%300.00%887.50%102.53%-97.50%-2650.00%
Change in YoY Net Profit Growth (%)0.00%-100.00%200.00%587.50%-784.97%-200.03%-2552.50%

Ahasolar Technologies Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2018-2019 to 2024-2025.

Growth

Last Updated: September 5, 2025, 2:11 pm

Balance Sheet

Last Updated: December 4, 2025, 2:18 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.000.010.010.010.012.263.083.083.08
Reserves -0.01-0.010.010.090.881.7212.6411.6311.50
Borrowings 0.010.010.230.240.580.000.000.710.07
Other Liabilities 0.010.091.140.510.951.231.712.802.58
Total Liabilities 0.010.101.390.852.425.2117.4318.2217.23
Fixed Assets 0.000.000.020.020.540.780.961.162.71
CWIP 0.000.000.000.000.000.000.962.036.86
Investments 0.000.000.000.000.000.000.000.010.01
Other Assets 0.010.101.370.831.884.4315.5115.027.65
Total Assets 0.010.101.390.852.425.2117.4318.2217.23

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -0.200.100.21-0.27-1.42-1.84
Cash from Investing Activity + -0.02-0.01-0.53-0.44-7.772.07
Cash from Financing Activity + 0.220.010.340.9211.690.63
Net Cash Flow 0.000.110.020.212.500.86
Free Cash Flow -0.220.09-0.33-0.72-2.86-3.49
CFO/OP -1,000%91%44%11%1,000%143%

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-0.02-0.01-0.21-0.130.531.79-0.12-1.81

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 20.2899.0340.7733.1249.3239.1656.90
Inventory Days 60.830.000.000.000.210.26
Days Payable 243.332.367.93
Cash Conversion Cycle -162.2299.0340.7733.1249.3237.0049.23
Working Capital Days -60.83-144.3019.4115.1942.1534.8238.00
ROCE %0.00%15.38%37.29%120.44%58.35%0.61%-6.23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Promoters 36.95%36.95%36.95%36.95%36.95%
Public 63.04%63.05%63.06%63.04%63.05%
No. of Shareholders 5008801,1451,1921,172

Shareholding Pattern Chart

No. of Shareholders

Ahasolar Technologies Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24
FaceValue 10.0010.00
Basic EPS (Rs.) -3.360.15
Diluted EPS (Rs.) -3.360.15
Cash EPS (Rs.) -1.881.09
Book Value[Excl.RevalReserv]/Share (Rs.) 47.9251.02
Book Value[Incl.RevalReserv]/Share (Rs.) 47.9251.02
Revenue From Operations / Share (Rs.) 188.13136.38
PBDIT / Share (Rs.) -1.651.16
PBIT / Share (Rs.) -2.870.20
PBT / Share (Rs.) -3.130.18
Net Profit / Share (Rs.) -3.100.13
NP After MI And SOA / Share (Rs.) -3.100.13
PBDIT Margin (%) -0.870.85
PBIT Margin (%) -1.520.15
PBT Margin (%) -1.660.13
Net Profit Margin (%) -1.640.10
NP After MI And SOA Margin (%) -1.640.10
Return on Networth / Equity (%) -6.460.26
Return on Capital Employeed (%) -5.810.39
Return On Assets (%) -4.940.24
Total Debt / Equity (X) 0.040.00
Asset Turnover Ratio (%) 3.150.00
Current Ratio (X) 3.707.45
Quick Ratio (X) 3.697.43
Inventory Turnover Ratio (X) 3109.290.00
Interest Coverage Ratio (X) -6.3055.97
Interest Coverage Ratio (Post Tax) (X) -10.857.59
Enterprise Value (Cr.) 21.39128.78
EV / Net Operating Revenue (X) 0.363.06
EV / EBITDA (X) -42.12359.53
MarketCap / Net Operating Revenue (X) 0.473.16
Price / BV (X) 1.888.46
Price / Net Operating Revenue (X) 0.473.16
EarningsYield -0.030.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Ahasolar Technologies Ltd. is a Public Limited Listed company incorporated on 28/07/2017 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L74999GJ2017PLC098479 and registration number is 098479. Currently company belongs to the Industry of E-Commerce/E-Retail. Company's Total Operating Revenue is Rs. 39.00 Cr. and Equity Capital is Rs. 3.08 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
E-Commerce - Electronics/Food/OthersOffice No. 207, Kalasagar Shopping Hub, Ahmedabad Gujarat 380061Contact not found
Management
NamePosition Held
Mr. Piyushkumar Vasantlal BhattChairman & Managing Director
Mr. Pulkit DhingraWhole Time Director
Mr. Shatrughan Harinarayan YadavExecutive Director
Ms. Garima HeeraniExecutive Director
Mr. Ashokkumar Ratilal PatelInd. Non-Executive Director
Mr. Sharadchandra Babhutabhai PatilInd. Non-Executive Director
Mr. Vilin Devkaran DavdaInd. Non-Executive Director

FAQ

What is the intrinsic value of Ahasolar Technologies Ltd and is it undervalued?

As of 19 April 2026, Ahasolar Technologies Ltd's intrinsic value is ₹45.19, which is 33.54% lower than the current market price of ₹68.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (6.70 %), book value (₹47.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Ahasolar Technologies Ltd?

Ahasolar Technologies Ltd is trading at ₹68.00 as of 19 April 2026, with a FY2026-2027 high of ₹136 and low of ₹58.9. The stock is currently near its 52-week low. Market cap stands at ₹21.0 Cr..

How does Ahasolar Technologies Ltd's P/E ratio compare to its industry?

Ahasolar Technologies Ltd has a P/E ratio of 12.1, which is below the industry average of 194.90. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Ahasolar Technologies Ltd financially healthy?

Key indicators for Ahasolar Technologies Ltd: ROCE of 6.23 % is on the lower side compared to the industry average of 9.70%; ROE of 6.70 % is below ideal levels (industry average: 10.97%). Dividend yield is 0.00 %.

Is Ahasolar Technologies Ltd profitable and how is the profit trend?

Ahasolar Technologies Ltd reported a net profit of ₹-1 Cr in Mar 2025 on revenue of ₹39 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows a declining trend.

Does Ahasolar Technologies Ltd pay dividends?

Ahasolar Technologies Ltd has a dividend yield of 0.00 % at the current price of ₹68.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Ahasolar Technologies Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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