The company is planning extensive expansion in the coming years, targeting retail and export growth across 8 states and 7 countries.
By 2026, the company aims to establish a network of 500 domestic and 20 international distributors.
Internationally, the company has established successful business relationships in countries such as Dubai, Lebanon, Nepal, and Nigeria in the last two years.
The company operates six service centers throughout India: Delhi, Uttar Pradesh, Haryana, Bihar, Assam, and Bengal.
The company’s Solar EPC Division has commissioned over 50 large-scale solar projects over the past eight years. These projects cater to esteemed clients such as Interglobe Enterprises, DLF, Jubilant Life Sciences, Eli Lilly, Modi Xerox, V N Dyers and Textiles, ITC Hotels Delhi, India Thermit Nagpur, Sarovar Portico Lucknow, and Satyam Hospital Ludhiana, etc.
The company ventured into international projects by executing the largest solar power project in Bhutan in 2021.
Sungarner Energies lacks long-term agreements with its suppliers, which could lead to potential shortages of raw materials in the future, potentially harming its business operations.
The company's primary sources of income come from manufacturing Solar Inverters and batteries. A decrease in demand for these products could adversely affect the company's operations.
In recent years, the company has experienced negative cash flows from its day-to-day operations, investments, and financial activities.
As of March 31, 2023, the top 10 customers account for 89.55% of the company's total sales, with the top 5 customers contributing more than 76% of these sales.
Similarly, procurement relies heavily on the top 10 suppliers, with over 65% of supplies coming from the top 5 suppliers.
The company has taken an unsecured loan facility totaling Rs. 3.21 Lakhs, which the lender can demand repayment for at any time.
Any alterations, removals, or expirations of government subsidies and incentives to boost solar energy and domestic production could diminish the demand for the company's solar modules.
The company has engaged in transactions with related parties, including its promoters, directors, and the promoter group, amounting to Rs. 223.96 Lakhs during the year ending on March 31, 2023.
The company may lack sufficient insurance coverage to protect against all potential losses.
The company heavily imports essential components, raw materials, and stock-in-trade. Shortages in raw materials or increased demand for components could directly impact input costs, potentially affecting product pricing, supply, and the company's overall business.