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Rite Water Solutions India ₹465 ▼ 6.1% 1M
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Rite Water Solutions India Unlisted Shares

Water & Clean Technology Water treatment, solar pumps and IoT solutions

Rite Water Solutions (India) is a Nagpur-based clean-tech company offering water treatment and supply, solar agriculture and IoT monitoring solutions for rural India. Its standalone revenue from operations was ₹2,111.36 million in FY24.

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Indicative price
As of 23 Oct 2026
₹465 ▼ 6.06% in 1 month
Key facts

Rite Water Solutions India share details

Lot size
1,000 shares
Min. investment
₹465,000
Face value
₹2
Implied market cap
₹3,969 Cr
Shares outstanding
85,362,720
Founded
2004
Headquarters
Nagpur, Maharashtra
Website
ritewater.in
ISIN
INE235Q01028
CIN
U29100MH2004PLC148812
Lock-in after IPO
6 months
Price history

Rite Water Solutions India share price chart

1Y change
+830.00%
High
₹545
Low
₹50.00

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

About

About Rite Water Solutions India

Rite Water Solutions (India) Limited, formerly Rite Water Solutions (India) Private Limited, is a clean-tech company based in Nagpur, Maharashtra. It describes itself as serving rural transformation through three verticals: water solutions, solar agriculture solutions and IoT solutions. The water vertical covers water and waste water treatment, disinfection and purification systems, community water purification plants and water supply schemes. The solar vertical covers solar irrigation pumps, solar water supply schemes and solar cold storage. The IoT vertical offers digital monitoring applications that help improve efficiency and cut losses in water and energy infrastructure. The latest audited accounts we could read are the standalone statements for the year ended 31 March 2024, audited by PKF Sridhar & Santhanam LLP. Revenue from operations was ₹2,111.36 million, up from ₹1,192.85 million a year earlier. Most of it came from works contracts at ₹1,933.08 million, with services at ₹178.28 million. Profit for the year was ₹392.50 million against ₹268.82 million in FY23. These are standalone numbers, not consolidated, and they are older than the current price date. As at 31 March 2024, the two directors who signed the accounts, Vinayak Gan and Abhijeet Gan, held 48.86% and 31.28% of the equity shares respectively. SIDBI Trustee Company Limited had exited by then, and Water Access Accleration Fund SLP held all the preference shares. The company has filed a draft offer document with SEBI for a proposed IPO, but we have not listed any dates or price terms here. Unlisted shares of a company like this are dealt off-market through dealers, so the indicative price of ₹495 per share on 2026-10-11, a lot of 1000 shares and an implied market cap of about ₹4225.45 crore are indications only, not exchange prices.

Strengths

  • Revenue from operations grew from ₹1,192.85 million in FY23 to ₹2,111.36 million in FY24, based on the audited standalone accounts.
  • Profit for the year rose from ₹268.82 million to ₹392.50 million, and profit before tax was ₹572.93 million in FY24.
  • Net worth stood at ₹2,284.90 million at 31 March 2024, up from ₹971.85 million a year before, helped by fresh equity raised during the year.
  • Cash and cash equivalents were ₹393.62 million and other bank balances ₹342.58 million at 31 March 2024, plus ₹253.15 million in current investments.
  • Three verticals (water, solar agriculture and IoT) let the company bid for different kinds of rural infrastructure work.

Risks

  • Cash flow from operations was negative at ₹353.10 million in FY24, even though profit for the year was ₹392.50 million, because other current financial assets grew by ₹549.71 million.
  • Most revenue comes from works contracts (₹1,933.08 million of ₹2,111.36 million), so results depend on winning and executing projects, often for public bodies.
  • Revenue of ₹55.5 million on completed projects was deferred at year end because collection is uncertain due to commercial disputes with customers.
  • Trade receivables were ₹351.18 million at 31 March 2024, up from ₹211.08 million, and the company booked ₹24.69 million of bad debts and expected credit loss.
  • Borrowings rose to ₹166.11 million current and ₹6.21 million non-current at 31 March 2024, from ₹29.13 million and ₹8.24 million a year earlier.
  • The latest accounts we could read are standalone FY24; later results, consolidated figures and the current share count were not available to us.
  • The company is promoter-led: two directors held 48.86% and 31.28% of the equity shares at 31 March 2024, so key decisions rest with a small group.
  • Unlisted share prices are indicative, trade off-market with low liquidity, and the proposed IPO may change in timing or terms.
Financials

Rite Water Solutions India financial performance

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

Revenue & PAT (₹ Cr)
Revenue PAT
Metric FY24Latest FY23
Revenue (₹ Cr) 211 119
PAT (₹ Cr) 39.25 26.88
PAT Margin (%) 18.59 22.53
RoNW (%) 17.18 27.66
Total Assets (₹ Cr) 278 129
Net Worth (₹ Cr) 228 97

Swipe the table sideways for earlier years →

Leadership

Management team

Vinayak Gan
Director
Signed the FY24 accounts as director and held 48.86% of the equity shares at 31 March 2024.
Abhijeet Gan
Director
Signed the FY24 accounts as director and held 31.28% of the equity shares at 31 March 2024.
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Rite Water Solutions India 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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