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Citizen Solar Limited

Citizen Solar Limited

BBSE:CITIZEN
154.45
INR
-7.55
(-4.66%)
20.47EPS
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
8.77
8.12
5.99
6.28
5.33
4.52
2.74
1.03
1.11
4.4
7.26
132.07
221.09
195.53
Basic EPS, GAAP
0.44
0.44
-0.4
0.06
0.02
0.03
-0.12
-0.21
-0.12
0.02
0.01
8.28
15.97
20.47
Free Cash Flow per Basic Share
0.33
0.45
-0.33
-0.11
0.55
0.46
-0.1
-0.45
-8,041.39
0.07
-0.16
3.28
-57.77
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.84
2.8
- -
Book Value per Share
11.35
11.2
8.89
8.88
8.91
8.94
8.82
8.61
8.49
8.51
8.53
44.06
29.82
- -
Tangible Book Value per Share
9.45
9.29
8.89
8.29
8.42
8.55
8.82
8.61
8.49
8.51
8.53
42.26
29.32
- -
Basic Weighted Avg Shares
5
5
5
5
5
5
5
5
5
5
5
14
14
10
Sales/Revenue/Turnover
47
44
32
34
29
24
15
6
6
24
39
1,855
3,105
1,897
Operating Margin (%)
-2.34
-7.65
-4.94
-13.43
-13.1
-16.03
-30.28
-93.42
-107.37
-13.05
-9.24
9.68
10.28
12.16
Depreciation Expense
2
3
3
4
3
2
- -
- -
- -
- -
- -
17
20
11
Net Income, GAAP
2
2
-2
- -
- -
- -
-1
-1
-1
- -
- -
116
224
199
Effective Tax Rate (%)
30.23
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
26.2
25.54
13.96
Profit Margin (%)
4.98
5.42
-6.68
1.02
0.46
0.76
-4.44
-20.25
-10.77
0.39
0.2
6.27
7.22
10.47
Working Capital
-6
-5
-4
-4
-2
-3
- -
- -
- -
- -
1
97
-87
- -
LT Debt
- -
- -
1
1
1
1
- -
- -
- -
- -
- -
125
739
- -
Total Equity
61
60
48
48
48
48
48
46
46
46
46
238
419
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
-6.99
-8.11
56
24.96
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.21
0.17
57.96
25.43
- -
Return on Common Equity (%)
- -
3.9
-4
0.72
0.28
0.39
-1.37
-2.39
-1.38
0.2
0.17
81.98
68.31
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
320
- -
LT Borrowings
- -
739
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5
14
14
Market Capitalization
- -
- -
- -

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
514
- -
Cash, Cash Equivalents & STI
- -
16
- -
Accounts Receivable, Net
- -
106
- -
Inventories
- -
98
- -
Total Current Liabilities
- -
601
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
320
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
48.88%
98.39%
76.1%
Free Cash Flow
174,938.88%
349,964.97%
-1,861.97%
Net Income, GAAP
14,656.95%
29,417.95%
92.77%
Sales/Revenue/Turnover
494.31%
1,014.18%
67.41%
Total Cash Common Dividend
- -
- -
233.33%

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
8
18
9
848
1,855
2026
1,098
31
1
1,098
3,105
2027
768
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.02
0.02
0.02
15.4
8.28
2026
25.97
0.31
-0.17
9.98
15.97
2027
4.11
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
0.84
2026
- -
- -
- -
- -
2.8
2027
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
Sector
Commercial services
Industry
Advertising/Marketing services
Address
Ahmedabad India
IPO Date
Nov 20, 2014
Website
citizeninfoline.com
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Business
Citizen Solar Limited is an India-based renewable energy company engaged in the manufacturing of solar photovoltaic (PV) modules and the provision of turnkey solar engineering, procurement, and construction (EPC) solutions. Founded in 2012 and headquartered in Ahmedabad, Gujarat, India, the company operates across the renewable energy and electrical equipment sectors, delivering clean energy products and services to residential, commercial, industrial, agricultural, and institutional clients. The company operates through two primary business divisions: Solar Module Manufacturing and Solar EPC Solutions. Its product and service portfolio includes: high-efficiency solar photovoltaic modules, comprising monocrystalline, polycrystalline, Mono PERC, bifacial, and n-type TOPCon solar panels for rooftop and utility-scale applications; solar thermal systems, featuring evacuated tube collector (ETC) and flat plate collector (FPC) domestic and commercial solar water heaters; turnkey solar power plant EPC services, covering on-grid, off-grid, and hybrid rooftop systems as well as ground-mounted solar power installations; agricultural solar solutions, including solar-powered water pumping systems; integrated solar street lighting and outdoor illumination systems; and comprehensive operations and maintenance (O&M) services, providing remote monitoring, preventive maintenance, repair, and performance optimization for installed solar assets. Citizen Solar maintains manufacturing facilities in Gujarat and distributes its products through a network of channel partners, dealers, and EPC contractors across multiple Indian states, alongside direct project executions for commercial and government entities. In recent developments, Citizen Solar completed its initial public offering and listed its equity shares on the BSE SME platform (BSE: CITIZEN) to support working capital requirements and production line upgrades. The company has expanded its manufacturing infrastructure by deploying automated assembly lines to produce higher-wattage Mono PERC and next-generation TOPCon photovoltaic modules. Furthermore, Citizen Solar has scaled its project pipeline under national clean energy programs, including the PM Surya Ghar: Muft Bijli Yojana residential rooftop scheme and the PM-KUSUM agricultural solarization initiative, while strengthening its strategic distributor network and regional presence across India.