Himalayan Solar Peer Comparison

NSE: HIMALAYAN

₹83.75

₹-1.20 (-1.41%)

As on 23-Oct-2026IST

Market cap

₹185 Cr

Revenue (TTM)

₹170 Cr

P/E Ratio

9

P/B Ratio

1.7

Div. Yield

0 %

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	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
Market cap (₹ Cr)	185	2,412	1,723	942	576
Revenue (₹ Cr)	170	1,814	2,346	1,476	1,619
Net Profit (₹ Cr)	20.67	252.04	199.31	117.71	81.80
Net Margin (%)	12.04	13.69	8.46	7.78	5.03
RoE (%)	56.32	39.64	38.80	14.66	36.21
Price to Earnings	8.96	9.56	8.61	8.05	7.22
Price-To-Book	1.72	3.17	3.03	1.10	2.21

Income Statement
Liabilities
Assets
Cashflow
Ratios

Income Statement (₹ Cr)

	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
Operating Revenue	170.34	1,813.67	2,223.27	1,376.16	1,618.06
Total Income	171.69	1,841.02	2,231.76	1,416.07	1,621.86
Total Expenditure	140.55	1,415.12	1,903.50	1,228.14	1,435.14
EBITDA	29.79	398.55	319.77	148.02	182.92
Depreciation	0.63	15.76	24.08	5.24	25.15
EBIT	29.16	382.78	295.70	142.78	157.77
Interest	2.82	63.47	22.89	20.65	30.84
Other Income	1.35	27.34	8.48	39.91	3.80
Exceptional Items	--	--	-0.93	--	0.39
Profit before Tax	27.69	346.66	279.49	161.05	131.12
Provision for Tax	7.02	94.61	77.98	40.58	32.87
Profit after Tax	20.67	252.04	201.51	120.47	98.25

Liabilities (₹ Cr)

	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
Shareholder's Funds	46.93	763.43	561.80	847.80	252.95
Minority Interest	--	7.78	0.00	--	3.13
Non-Current Liabilities	9.28	330.77	291.47	60.13	254.11
Current Liabilities	101.92	1,459.40	529.85	774.09	671.17
Total Liabilities	158.22	2,563.27	1,384.04	1,688.00	1,181.36

Assets (₹ Cr)

	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
Non-Current Assets	7.78	522.82	477.06	225.18	354.95
Current Assets	150.34	2,038.57	906.05	1,456.83	826.41
Total Assets	158.22	2,563.27	1,384.04	1,688.00	1,181.36
Total Debt*	36.12	508.55	506.67	254.99	269.21
Net Current Assets	48.42	579.16	376.20	682.74	155.24
Contingent Liabilities	29.18	182.62	83.67	0.77	4.27

Cashflow (₹ Cr)

	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
Cash From Operating Activities	-2.07	337.04	-115.61	-49.51	200.69
Cash Flow from Investing Activities	-3.00	-506.07	-437.24	-476.23	-225.16
Cash from Financing Activities	6.91	185.34	553.26	537.56	88.81
Net Cash Inflow / Outflow	1.84	16.31	0.41	11.83	64.34

Ratios

Profitability Ratios

	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
ROCE (%)	44.71	39.97	44.57	23.81	39.16
ROE (%)	56.32	39.64	54.06	20.85	47.87
ROA (%)	16.42	12.99	21.74	10.59	11.70
EBIT Margin (%)	18.28	23.48	14.76	13.66	11.54
Net Margin (%)	12.04	13.69	9.03	8.51	6.06
Cash Profit Margin (%)	12.50	14.77	10.15	9.14	7.63

Growth Ratios

	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
Revenue Growth (%)	19.59	83.73	184.98	152.61	144.34
EBIT Growth (%)	25.69	73.48	156.15	62.61	134.63
Net Profit Growth (%)	25.78	58.96	141.40	56.36	132.68
EPS Growth (%)	25.78	59.14	131.29	33.75	131.57
Book Value Growth (%)	77.38	49.51	144.52	174.24	60.56

Valuation Ratios

	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
Price / Earnings	0.00	2.49	9.62	10.32	10.37
Price / Book Value	0.00	4.12	3.66	1.47	3.93
Dividend Yield (%)	--	0.00	0.00	0.00	0.06
EV/EBITDA	1.35	7.89	7.00	4.93	6.11
Market Cap (₹ Cr)	0.00	3,137.83	1,939.36	1,243.77	995.11

Solvency Ratios

	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
Debt to Equity	0.77	0.67	0.96	0.30	1.06
Short term debt to equity ratio	0.49	0.19	0.44	0.21	0.14
Current Ratio	1.48	1.40	1.71	1.88	1.23
Quick Ratio	1.44	1.37	1.03	1.74	0.80
Interest Coverage	10.83	6.46	13.21	8.80	5.25

Operating Efficiency Ratios

	Himalayan Solar	Oriana Power	Alpex Solar	Solarworld Energy Solutions	Solex Energy
Debtors to sales (%)	73.58	37.00	11.46	25.27	22.04
Asset Turnover	1.35	0.93	2.40	1.21	1.93
Receivable days	205.33	107.20	31.07	65.24	53.14
Inventory Days	7.15	6.40	37.86	14.35	53.01
Payable days	0.00	54.49	28.14	85.36	77.03
Cash Conversion Cycle	212.49	59.11	40.79	-5.78	29.12

Annual
Quarterly