GPES Solar is a distributor of solar products and services in India. The company is the authorised distributor for Sungrow India Private Limited for its solar inverters in north India, and Saatvik Green Energy Private Limited, and LONGi Solar Technology Company Limited for solar panels in north India. GPES Solar also offers engineering, procurement, and construction (EPC) services for solar energy solutions to both commercial and residential clients, with a primary focus on consulting, installation, and operation and maintenance. The company owns the brand Invergy. Under this brand, it sells hybrid solar inverters and lithium ferro phosphate (LFP) batteries and also engages in OEM manufacturing for these products.;

Founded in

2010

MD/CEO

Mr. Deepak Pandey

Parent organisation

GP Eco Solutions India Ltd

GP Eco Solutions Financials

Revenue

Total Assets

Profit

All values are in ₹ Cr

Strengths & Risks

Strengths

Risks

For financial years ending March 31, 2021, 2022, and 2023, the company’s total revenues have risen consistently from Rs 46.47 crore to Rs. 83.45 crore and Rs 101.21 crore, while the profit after tax (PAT) moved up from Rs 0.97 crore to Rs 2.77 crore to Rs 3.70 crore, respectively.

The company has been in existence since 2010. This makes it possible for investors to study the past performance of the company and make estimations for its future.

The company holds ISO 9001:2015 certification in Quality Management Systems.

GPES Solar has implemented a dual-source energy system at its facility, combining solar energy with its traditional grid connection. This has reduced its reliance on traditional electricity.

The company has working agreements with Safexpress, Blue Dart, and DTDC for logistics services to transport the solar products.

The company’s top 10 clients accounted for about 33.20%, 57.01%, and 51.76% of its revenues for the years ending March 31, 2023, 2022, and 2021, respectively. Any disruption in business from them could be detrimental to the company.

For the nine months ended December 2023 and for the years ended March 31, 2023, March 31, 2022, and March 31, 2021, the company’s top 10 suppliers accounted for about 89.94%, 67.35%, 76.76%, and 92.96% of its purchase of raw materials. Any disruption in supply of these raw materials could hurt the company’s business prospects.

The company is entering into a new line of business involving assembly of solar hybrid inverters through its subsidiary, Invergy India Private Limited. Since the company has no prior experience in this field, any adverse developments could negatively impact its business.

About 50% of the company’s revenue comes from sale of just one product – solar inverters. Any disruption to the sale of solar inverters could negatively impact the company’s business.

The company had total indebtedness of Rs 12.45 crore as of April 30, 2024. Any inability to service this debt could hurt the company’s operations.

Application details

For GP Eco Solutions IPO, eligible investors can apply as Regular.

Apply as	Price band	Apply range	Lot size
Regular	₹90 - ₹94	₹2 - ₹5 Lakhs	1200
High Networth Individual	₹90 - ₹94	₹2 - ₹5 Lakhs	1200

Frequently Asked Questions

Home>IPO>GP Eco Solutions India Ltd

Vaishnavi Tech Park, South Tower, 3rd FloorSarjapur Main Road, Bellandur, Bengaluru – 560103Karnataka

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