Ujaas

Formerly known as M&B Switchgears, it is a solar plant maker, promoted by the Mundra family. Amitabh Bachchan is no longer a stake holder in the company, which at some point was its USP. It has been listed right from Forbes to Business World and Business Today as one of the top 200 companies of India. It is operating 120 MWp at Ujaas solar parks, spread around 6 locations in MP. It hands over ready-made solar projects to customers, overseeing construction, licensing and power-sale contracts to ensure plants have buyers for their electricity.

The company once again posted a very good set of numbers for Q1FY17 but this was thanks to a very low base effect. Otherwise, sequentially, it has not been that good. YoY, net sales rose over 8 times to Rs.94 crore but QoQ, it fell 44%. YoY, its EBITDA rose 50% at Rs.15 crore but margins showed a sharp fall from 29.17% to 15.96%. The company has said that this was because lower sales from its high margin solutions business is typically reported in Q2 while Q1 comprises mainly on EPC business where volumes are high but margins are low. The company ended the quarter with a net profit of Rs.7 crore v/s Rs.1 crore (YoY) while sequentially, it was down 50%. The company has said that it is likely to end FY17 with total revenue of Rs.500 crore.

The company’s debt currently stands at Rs.93 crore. Equity is at Rs.20 crore and EPS for the fiscal stood at 36 paise (FV of Re.1).