Sadbhav Futuretech Limited
vs. prev. close ₹128
52W High
₹128
52W Low
₹120
Market cap
₹1,205 Cr
IPO stage
DRHP filed
CIN
U74990CT2020PLC010124
Price History
52W High
₹128
52W Low
₹120
About Sadbhav Futuretech Limited
Sadbhav Futuretech Limited, a solar EPC and off-grid solar water pumping systems company, more than doubled revenue to Rs 302.10 crore and nearly quadrupled profit to Rs 30.80 crore in FY25 (EPS Rs 4.36, ROE 39.05%), funded largely through fresh equity and debt rather than internal cash generation.
The Short Version :
Sadbhav Futuretech Limited (formerly Sadbhav Futuretech Private Limited) supplies, transports, installs, tests, and commissions on-grid solar photovoltaic systems integrated with the utility power grid, along with off-grid solar photovoltaic water pumping systems (SPWPS) across various horsepower capacities and rooftop solar PV installations. Revenue from operations more than doubled to Rs 302.10 crore in FY25 from Rs 133.68 crore in FY24, and profit for the year rose nearly 4x to Rs 30.80 crore from Rs 7.69 crore, taking basic EPS to Rs 4.36 from Rs 1.21 (on a post-split, post-bonus face value of Rs 2 per share) and ROE to 39.05% from 6.28% on closing equity of Rs 78.88 crore.
Why It Trades Where It Does :
Sadbhav Futuretech's growth is being funded almost entirely by working capital debt rather than internal cash generation: net cash used in operating activities widened to Rs 110.00 crore in FY25 from Rs 17.73 crore in FY24, driven by trade receivables ballooning to Rs 252.80 crore from Rs 69.02 crore as the order book scaled. That gap was bridged through a Rs 41.16 crore preferential equity issue plus a further Rs 88.15 crore net financing inflow (long and short-term borrowings), which is why total borrowings (current and non-current combined) rose to Rs 128.25 crore from Rs 64.52 crore over the year even as the company posted strong accounting profit. This is a business where the income statement and the cash flow statement tell very different stories, and any valuation read has to weigh both.
Top Risks :
Operating cash flow is deeply negative despite strong reported profit: Rs 110.00 crore was used in operations in FY25, almost 3.6 times the year's own PAT, driven by trade receivables growing faster than revenue. If customer collections don't catch up, the company will need continued external funding just to sustain current volumes.
Total borrowings (current plus non-current) nearly doubled to Rs 128.25 crore from Rs 64.52 crore in a single year, and finance costs rose to Rs 11.70 crore from Rs 5.24 crore, a leverage trajectory that is directly tied to the receivables build-up rather than to fixed-asset investment.
The business depends on utility and government-linked solar procurement and installation contracts, where payment cycles are typically long and collection risk is concentrated in a small number of large counterparties, a structural driver behind the receivables and cash flow pattern above.
Reported EPS uses a weighted-average share count of 7.07 crore shares that reflects a mid-year split and bonus issue; year-end paid-up capital, before those corporate actions are fully reflected, was far smaller, so investors should rely on the disclosed post-split EPS and ROE (which isn't share-count dependent) rather than back-calculating per-share figures independently.
Top Opportunities :
Revenue more than doubled and profit nearly quadrupled year-on-year, a scale-up pace that, if it holds, would justify a growth premium over slower-growing peers in the renewable EPC space.
Margin actually improved alongside the scale-up: profit before tax as a share of total income rose to about 13.8% in FY25 from roughly 8.7% in FY24, indicating the growth isn't being bought purely with pricing concessions.
The company raised fresh equity capital during the year (a Rs 41.16 crore preferential issue in February 2025 and further rights issue proceeds), showing external investor confidence and giving it a base to fund the working-capital-heavy growth model without relying solely on debt.
Solar EPC and off-grid water pumping systems sit squarely in India's renewable energy and rural electrification policy priorities, a tailwind for order flow that isn't specific to this company but does favor the sector it operates in.
Disclaimer :
Priveq.in is an informational platform for unlisted and pre-IPO shares, operated by Priveq Investech Private Limited (the named counterparty on transactions). Unlisted shares carry risks including illiquidity, valuation uncertainty, and limited regulatory disclosure. This page is informational only and does not constitute investment advice.
Company Details
Industry
EPC
Founded
2020
Headquarters
Raipur, Chhattisgarh, India
Min Lot Size
1000
Face Value
₹2.00
Total Shares
94149840
Regulatory Information
Corporate Identity Number (CIN)
U74990CT2020PLC010124
PAN Number
AAFCI6537G
ISIN
INE1BC001021
Key Valuation Ratios
Valuation
Market Cap
₹1,205.12 Cr
P/E Ratio
39.14×
P/S Ratio
3.99×
P/B Ratio
14.30×
EV / EBITDA
24.28×
Returns & Per Share
ROE
36.53%
EPS
₹3.27
Book Value / Share
₹8.95
Solvency
Debt / Equity
1.48×
Interest Coverage
4.48×
Company Fundamentals
As of FY2025 Annual · updated 20 Sept 2026Gross Profit
₹106.13 Cr
EBITDA
₹53.96 Cr
Revenue Growth
125.38%
Profit Margin
10.19%
Performance Trends
4 annual periods · derived from filed statements
Revenue
₹ Cr
Net Profit
₹ Cr · losses in red
Earnings Per Share
₹ per share
Return on Equity
ROE %
Return on Capital Employed
ROCE %
Debt-to-Equity
1.48×
EBITDA Margin
17.85%
Interest Coverage
4.48×
Financial Statements
| Line item | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Total Income | ||||
| Revenue from operationsDisclosed | 69.1₹ Crore | 72.98₹ Crore | 134.12₹ Crore | 302.28₹ Crore |
| Other incomeDisclosed | 61₹ Thousand | 4.16₹ Lakh | 7.85₹ Lakh | 62.7₹ Lakh |
| Total IncomeDerived | 69.1₹ Crore | 73.02₹ Crore | 134.2₹ Crore | 302.9₹ Crore |
| Expenses | ||||
| Cost of goods soldDisclosed | 56.48₹ Crore | 59.96₹ Crore | 99.14₹ Crore | 196.15₹ Crore |
| Purchases of stock-in-tradeDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Changes in inventoriesDisclosed | -2.85₹ Lakh | 59.85₹ Lakh | -1.64₹ Crore | -5.77₹ Crore |
| Employee benefits expenseDisclosed | 2.9₹ Crore | 2.31₹ Crore | 3.84₹ Crore | 6.72₹ Crore |
| Finance costsDisclosed | 1.48₹ Crore | 2.66₹ Crore | 5.3₹ Crore | 12.02₹ Crore |
| Depreciation and amortization expenseDisclosed | 3.67₹ Lakh | 4.84₹ Lakh | 5.09₹ Lakh | 17.1₹ Lakh |
| Manufacturing expensesDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Operating expensesDisclosed | 4.97₹ Crore | 4.31₹ Crore | 11.76₹ Crore | 44.61₹ Crore |
| Other expensesDisclosed | 2.08₹ Crore | 1.76₹ Crore | 4.11₹ Crore | 7.24₹ Crore |
| Total ExpensesDerived | 67.93₹ Crore | 71.65₹ Crore | 122.56₹ Crore | 261.13₹ Crore |
| Profit | ||||
| Exceptional itemsDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Profit before taxDerived | 1.18₹ Crore | 1.37₹ Crore | 11.63₹ Crore | 41.77₹ Crore |
| Current tax expenseDisclosed | 29.23₹ Lakh | 34.59₹ Lakh | 3.59₹ Crore | 10.96₹ Crore |
| Deferred tax expenseDisclosed | 35₹ Thousand | -15₹ Thousand | 25₹ Thousand | 1.49₹ Lakh |
| Tax expenseDisclosed | 29.58₹ Lakh | 34.44₹ Lakh | 3.59₹ Crore | 10.98₹ Crore |
| Profit After TaxDerived | 87.95₹ Lakh | 1.03₹ Crore | 8.04₹ Crore | 30.79₹ Crore |
| Other comprehensive incomeDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Total Comprehensive IncomeDerived | 87.95₹ Lakh | 1.03₹ Crore | 8.04₹ Crore | 30.79₹ Crore |
Saikat Roy
Chairman and MD
25+
Bhupender Singh
Executive director
25+
Nilesh Jain
Executive Director
25+
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Current Price
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About Sadbhav Futuretech Limited unlisted shares
Indicative · updated dailySadbhav Futuretech Limited unlisted share price today
Sadbhav Futuretech Limited unlisted share price today is ₹128 as of 16 October 2026.
Sadbhav Futuretech Limited — frequently asked questions
- How does Sadbhav Futuretech Limited compare to its listed peers?
There is no closely comparable listed company for Sadbhav Futuretech Limited in India today.
- Is Sadbhav Futuretech Limited on the SME or Mainboard IPO track?
Sadbhav Futuretech Limited has not filed a draft red herring prospectus, so no IPO track is set yet.
- What is Sadbhav Futuretech Limited's CIN and registered office?
Sadbhav Futuretech Limited's Corporate Identity Number is U74990CT2020PLC010124, registered at Raipur, Chhattisgarh, India.
- What is Sadbhav Futuretech Limited's market capitalisation?
Sadbhav Futuretech Limited's market capitalisation is approximately ₹1,205 crore, based on its current unlisted share price.
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