Himalayan Solar Key Ratios
NSE: HIMALAYAN
₹88.50
As on 14-Oct-2026 14:31IST
Market cap
₹192 Cr
Revenue (TTM)
₹170 Cr
P/E Ratio
9.3
P/B Ratio
1.8
Div. Yield
0 %
Key Ratios and Highlights
| Growth Score (%) | Quarterly | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | QoQ | YoY | 1-Year | 3-Years | 5-Years |
| Revenue | -- | -- | 19.59 | 52.97 | -- |
| EBIT | -- | -- | 24.24 | 130.47 | -- |
| Net Profit | -- | -- | 25.78 | 228.57 | -- |
| EPS | -- | -- | 25.78 | 228.57 | -- |
| Book Value | -- | -- | 77.38 | 105.75 | -- |
| Key Ratios (%) | Average | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | 3-Years | 5-Years | Mar-26 | Mar-25 | Mar-24 |
| EBIT-Margin
| 13.10 | -- | 17.12 | 16.48 | 5.72 |
| Net Margin
| 9.03 | -- | 12.04 | 11.48 | 3.57 |
| Return on equity
| 69.52 | -- | 56.32 | 89.32 | 62.92 |
| Return on Capital
| 42.80 | -- | 44.71 | 55.38 | 28.29 |
| Return on Assets
| 14.47 | -- | 16.42 | 18.49 | 8.49 |
| Debt to Equity (x)
| -- | -- | 0.77 | 1.02 | 2.28 |
Profitability
ROCE
44.71
Higher than Peers by 5.73
Earning before interest and taxes / (Average net worth + Average total Debt) * 100
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
44.71
|
55.38
|
28.29
|
9.93
|
--
|
|
Peer Median
|
38.98
|
28.46
|
13.90
|
--
|
--
|
ROE
56.32
Higher than Peers by 13.72
Profit after tax / Average Net worth * 100
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
56.32
|
89.32
|
62.92
|
10.81
|
--
|
|
Peer Median
|
42.60
|
37.42
|
19.38
|
--
|
--
|
ROA
16.42
Higher than Peers by 3.42
Profit after tax / Average Total assets * 100
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
16.42
|
18.49
|
8.49
|
1.80
|
--
|
|
Peer Median
|
12.99
|
11.70
|
4.13
|
--
|
--
|
EBIT Margin
17.12
--
Operating profit (EBIT) / Net Sales * 100
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
17.12
|
16.48
|
5.72
|
5.01
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Net Margin
12.04
Higher than Peers by 3.53
Net profit / Total Income (Net sales plus other income) * 100
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
12.04
|
11.48
|
3.57
|
1.22
|
--
|
|
Peer Median
|
8.51
|
5.85
|
3.54
|
--
|
--
|
Cash Profit Margin
12.50
--
(Net profit + Depreciation) / Gross Sales * 100
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
12.50
|
11.96
|
3.75
|
1.88
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Revenue Growth
19.59
--
Year on year growth in net sales
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
19.59
|
2.98
|
190.67
|
--
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
EBIT Growth
24.24
--
Year on year growth in operating profit (EBIT)
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
24.24
|
196.59
|
232.21
|
--
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Net Profit Growth
25.78
--
Year on year growth in profit after tax
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
25.78
|
232.21
|
748.94
|
--
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
EPS Growth
25.78
--
Year on year growth in earnings per share
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
25.78
|
232.20
|
748.95
|
--
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Book Value Growth
77.38
--
Year on year growth in book value per share
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
77.38
|
156.02
|
91.81
|
--
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Solvency
Debt to Equity
0.77
No difference
Total debt / Net worth
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
0.77
|
1.02
|
2.28
|
3.53
|
--
|
|
Peer Median
|
0.77
|
0.94
|
1.60
|
--
|
--
|
Short term debt to equity ratio
0.49
--
(Short term borrowings / Net worth)
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
0.49
|
0.92
|
2.27
|
3.49
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Current Ratio
1.48
Lower than Peers by 0.19
Current Assets / Current Liabilities and Provisions
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
1.48
|
1.33
|
1.08
|
1.15
|
--
|
|
Peer Median
|
1.66
|
1.43
|
1.33
|
--
|
--
|
Quick Ratio
1.44
--
(Current Assets - Inventory) / Current Liabilities and Provisions
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
1.44
|
1.27
|
0.76
|
1.02
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Interest Coverage
10.83
Higher than Peers by 2.95
Earning before interest and taxes (EBIT) / Interest Expenses
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
10.83
|
11.10
|
6.03
|
1.52
|
--
|
|
Peer Median
|
7.87
|
6.33
|
3.18
|
--
|
--
|
Operating Efficiency
Debtors to sales
73.58
--
Debtors outstanding / Net Sales * 100
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
73.58
|
46.56
|
29.25
|
24.99
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Asset Turnover
1.35
--
Sales / Average Total Assets
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
1.35
|
1.60
|
2.37
|
1.47
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Receivable days
205.33
--
Average Debtors / Sales * 365
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
205.33
|
136.80
|
69.06
|
91.20
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Inventory Days
7.15
--
Average Inventory / Sales * 365
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
7.15
|
34.90
|
36.18
|
27.28
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Payable days
--
--
Average Creditors / Cost of goods sold * 365
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
--
|
--
|
613.92
|
44.09
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Cash Conversion Cycle
212.49
--
Receivable Days + Inventory Days - Payable Days
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
212.49
|
171.70
|
-508.68
|
74.39
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Valuation
Price / Earnings
--
--
Current share price divided by earning per share in the last twelve months
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
--
|
--
|
--
|
--
|
--
|
|
Peer Median
|
9.98
|
41.00
|
124.37
|
--
|
--
|
Price / Book Value
--
--
Current share price divided by book value per share in the latest financial year
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
--
|
--
|
--
|
--
|
--
|
|
Peer Median
|
2.65
|
14.19
|
16.51
|
--
|
--
|
EV/EBITDA
1.35
Lower than Peers by 6.51
Enterprise Value (Current Market Capitalisation + Total Debt - Cash & Equivalents) / Earnings before interest, taxes, depreciation and taxes (EBITDA)
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
1.35
|
0.96
|
2.66
|
4.81
|
--
|
|
Peer Median
|
7.86
|
87.72
|
226.36
|
--
|
--
|
Market Cap
--
--
Current Share price multiplied by latest total number of shares outstanding
|
Company Name
|
Mar-26
|
Mar-25
|
Mar-24
|
Mar-23
|
Mar-22
|
|---|---|---|---|---|---|
|
Himalayan Solar
|
--
|
--
|
--
|
--
|
--
|
|
Peer Median
|
513
|
1,295
|
1,233
|
--
|
--
|