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Apollo Green Energy Limited ₹62.00 ▼ 6.1% 1M
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Apollo Green Energy Limited Unlisted Shares

Renewable Energy Solar and wind EPC

Apollo Green Energy Limited is a Delhi-based engineering, procurement and construction (EPC) company that builds solar and wind projects across India. It was earlier Apollo International Limited and reported revenue of ₹1,148.48 crore in FY24.

Read the full company profile
Indicative price
As of 23 Oct 2026
₹62.00 ▼ 6.06% in 1 month
Dealer quotes: ₹59.00 – ₹62.00 across 3 dealers
Key facts

Apollo Green Energy Limited share details

Lot size
1,000 shares
Min. investment
₹62,000
Face value
₹10
Implied market cap
₹118 Cr
Shares outstanding
19,000,000
P/E ratio
7.89
P/B ratio
0.32
Founded
1994
Headquarters
New Delhi
Website
apollo-greenenergy.com
ISIN
INE838A01015
CIN
U74899DL1994PLC061080
Lock-in after IPO
6 months
Price history

Apollo Green Energy Limited share price chart

1Y change
-22.50%
High
₹188
Low
₹56.00

Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.

About

About Apollo Green Energy Limited

Apollo Green Energy Limited (AGEL) is an EPC company for renewable energy. In simple words, it designs, buys equipment for and builds solar and wind power plants for its clients. The company was earlier called Apollo International Limited and, according to its annual report, still carries a few older trading businesses. In FY24 (year ended 31 March 2024) the company reported standalone revenue from operations of ₹1,148.48 crore, against ₹653.81 crore in the year before. Profit before tax was ₹32.14 crore and profit after tax was ₹2,957 lakh. These are standalone figures. The company also publishes consolidated accounts with its subsidiaries, which are not used in the table on this page. The annual report says the order book stood at ₹3,500 crore, with ₹2,500 crore of ongoing solar projects across various states in India. The company also had sixteen subsidiaries, one associate and one joint venture as on 31 March 2024. It decided to hive off its fashion division in Noida through a business transfer agreement and is now putting its focus on renewable energy. Mr. Raaja Kanwar is the Vice Chairman and Managing Director. The company's website describes AGEL as a renewable EPC player that draws on the experience of its parent group. AGEL has not listed on a stock exchange. Its shares trade off-market through dealers, so the price on this page of ₹64 per share (lot size 1,000 shares) is only indicative and not an exchange price. The latest annual report we could read is for FY24, so more recent results may differ.

Strengths

  • Revenue from operations grew to ₹1,148.48 crore in FY24 from ₹653.81 crore in FY23 on a standalone basis.
  • The annual report states an order book of ₹3,500 crore, of which ₹2,500 crore is ongoing solar projects across various states.
  • Net worth (total equity) rose to ₹36,284 lakh at 31 March 2024 from ₹30,521 lakh a year earlier.
  • The company stayed profitable in both years, with profit after tax of ₹2,957 lakh in FY24 and ₹3,007 lakh in FY23.
  • It is shifting focus from older trading and fashion businesses towards renewable EPC, and has a Vice Chairman and Managing Director, Mr. Raaja Kanwar, re-appointed for three years from 1 April 2024.

Risks

  • Profit did not grow with sales: profit before tax fell to ₹3,214 lakh in FY24 from ₹3,749 lakh in FY23 even as revenue rose.
  • Finance costs more than doubled to ₹5,308 lakh in FY24 from ₹2,392 lakh in FY23, which weighs on margins.
  • Operating cash flow was negative at an outflow of ₹628 lakh in FY24 and ₹6,276 lakh in FY23 on a standalone basis, so profit has not turned into cash.
  • Trade receivables were ₹38,712 lakh at 31 March 2024, a large part of current assets of ₹77,084 lakh, which makes the business dependent on customers paying on time.
  • Borrowings are heavy: non-current borrowings were ₹25,127 lakh and current borrowings ₹7,547 lakh at 31 March 2024, against equity of ₹36,284 lakh.
  • Part of the company's investments and shareholdings, such as its stake in Apollo Tyres, are pledged with lenders for loan facilities.
  • The company has a large group structure with sixteen subsidiaries, which makes the standalone numbers harder to read on their own.
  • Unlisted shares have no exchange price, can be hard to sell and trade at indicative dealer prices. IPO Guru is not a SEBI-registered research analyst and this is not advice.
Financials

Apollo Green Energy Limited financial performance

Revenue, profit and balance-sheet figures by fiscal year.

Revenue & PAT (₹ Cr)
Revenue PAT
Metric FY24Latest FY23
Revenue (₹ Cr) 1,148 654
EBITDA (₹ Cr) 92.35 65.58
PAT (₹ Cr) 29.57 30.07
EBITDA Margin (%) 8.04 10.03
PAT Margin (%) 2.57 4.60
RoNW (%) 8.15 9.85
EPS (₹) 15.56 —
Total Assets (₹ Cr) 1,202 931
Net Worth (₹ Cr) 363 305

Swipe the table sideways for earlier years →

Leadership

Management team

Raaja Kanwar
Vice Chairman & Managing Director
Re-appointed as Vice Chairman and Managing Director for three years from 1 April 2024.
Manish Gupta
Chief Financial Officer
Key managerial person named in the FY24 annual report.
Suman Lata
Company Secretary
Key managerial person named in the FY24 annual report.
Sunil Agrawal
Director
Director who signed the FY24 financial statements.
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FAQs

Apollo Green Energy Limited unlisted shares: common questions

Important disclaimer

Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.

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