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Greenzo Energy India ₹725 ▲ 7.4% 1M
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Greenzo Energy India Unlisted Shares

Renewable Energy Green hydrogen equipment and renewable EPC

Greenzo Energy India is a New Delhi based company that makes and trades green hydrogen equipment such as electrolysers, and executes solar, wind and hydrogen projects. It was incorporated in November 2022 and has one wholly owned subsidiary in London.

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Indicative price
As of 23 Oct 2026
₹725 ▲ 7.41% in 1 month
Dealer quotes: ₹630 – ₹725 across 3 dealers
Key facts

Greenzo Energy India share details

Lot size
100 shares
Min. investment
₹72,500
Face value
₹10
Implied market cap
₹892 Cr
Shares outstanding
12,307,453
Founded
2022
Headquarters
New Delhi
Website
greenzoenergy.com
ISIN
INE0OA401013
CIN
U29309DL2022PLC407203
Lock-in after IPO
6 months
Price history

Greenzo Energy India share price chart

1Y change
+16.00%
High
₹725
Low
₹578

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

About

About Greenzo Energy India

Greenzo Energy India Limited was incorporated on 22 November 2022 as a public company, with its registered office in New Delhi. It works in renewable energy and green hydrogen. The company manufactures and trades electrolysers, separators, purification units and the supporting equipment needed to produce hydrogen, such as compressors, pumps, storage tanks and control panels. It also develops and executes solar, wind and hydrogen projects as an EPC contractor and consultant. Its notes list other lines too: hydrogen fuelling stations, fuel cell systems, solar structures and the import and export of specialised engineering equipment. It has one wholly owned subsidiary, Greenzo Energy London Limited. In FY25 (year ended 31 March 2025) the standalone revenue from operations was ₹15,96,969.20 hundred against ₹14,79,106.28 hundred in FY24, and profit after tax was ₹1,38,422.04 hundred against ₹1,00,469.61 hundred. The company reports its accounts in INR hundreds. These are standalone figures. A consolidated set is also published, with a slightly lower FY25 profit after tax. The company is led by Sandeep Agarwal as Managing Director and Kushal Agarwal as Whole-time Director and CFO. As of 31 March 2025 its paid-up capital was 1,18,52,331 equity shares of ₹10 each. In FY25 it allotted 918,680 equity shares by private placement at a premium of ₹408 per share. The company has not filed a DRHP that we have linked, so we cannot say when or whether an IPO will happen. Unlisted shares of a company like this are dealt off-market through private dealers. The price shown on this page is indicative, not an exchange price, and liquidity can be thin.

Strengths

  • Revenue from operations grew from ₹14,79,106.28 hundred in FY24 to ₹15,96,969.20 hundred in FY25 on a standalone basis.
  • Profit after tax rose from ₹1,00,469.61 hundred to ₹1,38,422.04 hundred in FY25.
  • The company had no borrowings on its balance sheet at 31 March 2025, against long term borrowings of ₹50,904.44 hundred a year earlier.
  • Net worth stood at ₹77,49,413.35 hundred at 31 March 2025, up from ₹37,70,908.91 hundred, helped by shares issued during the year.
  • It has a broad product range across hydrogen equipment, EPC work and solar structures, and a wholly owned subsidiary in London for overseas business.
  • The auditor's notes record no contingent liabilities at 31 March 2025 or 31 March 2024.

Risks

  • Operating cash flow was negative at ₹-44,53,899.07 hundred in FY25 and ₹-5,89,983.06 hundred in FY24, so profit is not turning into cash yet.
  • Inventory jumped to ₹18,04,339.54 hundred at 31 March 2025 from ₹8,754.05 hundred, which ties up cash and carries stock risk.
  • Other income of ₹1,28,858.59 hundred made up a large part of FY25 total income, so profit is not only from the core business.
  • Cash and cash equivalents fell to ₹5,04,430.31 hundred from ₹43,81,634.71 hundred in a year as money moved into inventory, projects and loans and advances.
  • Basic EPS fell to ₹1.18 in FY25 from ₹1.81 in FY24 because the share count grew.
  • The company is young, incorporated in 2022, so it has a short track record, and the green hydrogen market is still early.
  • The company has related party dealings with its directors, including salary, reimbursements, loans and research and development fees.
  • The company is unlisted, so the price is indicative and shares may be hard to buy or sell.
Leadership

Management team

Sandeep Agarwal
Managing Director
Designated Managing Director with effect from 28 June 2024.
Kushal Agarwal
Whole-time Director and CFO
Whole-time Director and Chief Financial Officer.
Kokila Agarwal
Director
Director on the board.
Amit Singal
Director
Director on the board.
Bharat Gupta
Director
Director on the board.
Ankur Arora
Independent Director
Appointed Additional Independent Director, put up for regularisation at the 2025 AGM.
Kajal Jain
Company Secretary
Company Secretary.
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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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