BSE: ONIXSOLAR CMP: Rs 682.10 P/E: 62.57x ROCE: 10.21% 6M Ret: +98.83% ATH: Rs 782.20 MCap: Rs 2514.76 Cr
Key Performance Indicators
Onix Solar trades at Rs 682.10 on BSE (ticker: ONIXSOLAR), with a market capitalisation of Rs 2514.76 crore. The price-to-earnings ratio is 62.57x. Return on capital employed stands at 10.21%. The six-month price return is +98.83%. Quarterly net profit stands at Rs 25.67 crore, a year-on-year change of 3910.94%. Quarterly sales are Rs 70.30 crore (+202.11% year-on-year). The all-time high is Rs 782.20, above the current price by 14.7%.
Highlights
Onix Solar has delivered a six-month return of 98.83%, positioning it among the notable performers over the measured period in the energy sector. The all-time high of Rs 782.20 stands 14.7% above the current price of Rs 682.10, indicating the stock has corrected from its peak and sits below its historical ceiling. The market capitalisation of Rs 2514.76 crore at the current price classifies this as a mid-cap entity.
At a P/E of 62.57x, the stock trades at a moderate premium to the Indian market average, suggesting visible but not exceptional growth expectations. The ROCE of 10.21% — crossing the double-digit threshold that typically signals competitive business returns — provides a capital efficiency perspective that complements the P/E valuation framework.
Business Overview
Onix Solar is a solar energy company — manufacturing solar modules, providing EPC (engineering, procurement, and construction) services for solar installations, or operating as an independent power producer. The quarterly profit of Rs 25.67 crore growing 3,910.94% year-on-year — one of the most dramatic profit growth percentages in the dataset — on revenue of Rs 70.30 crore growing 202.11%, reflects a business that has transitioned from near-zero revenue to meaningful operational scale over the past year.
The P/E of 62.57 times and ROCE of 10.21% — crossing the 10% threshold — indicate a business generating above-cost-of-capital returns on a growing profit base. The six-month return of 98.83% and the all-time high of Rs 782.20 — Rs 100.10 (15%) above the current price of Rs 682.10 — indicate the stock has corrected meaningfully from the peak. India's 500 GW renewable energy target by 2030 creates extraordinary structural demand for solar module manufacturing, installation services, and power generation — Onix Solar is directly positioned in this high-growth sector.
Financial Analysis
Onix Solar's financial profile for the most recently reported quarter shows quarterly revenue of Rs 70.30 crore (+202.11% year-on-year) and quarterly net profit of Rs 25.67 crore (3910.94% variation year-on-year). The positive quarterly profitability — even at modest absolute levels — provides a foundational earnings base from which P/E-based valuation can be meaningfully applied.
The ROCE of 10.21% is above the 10% threshold widely used as an indicator of competitive business returns — businesses that sustain ROCE above their cost of capital create economic value for shareholders over time.
At Rs 2514.76 crore market capitalisation, Onix Solar has mid-cap institutional visibility with reasonable daily liquidity. Investors should access the company's quarterly results on BSE and any investor presentations for a comprehensive fundamental assessment.
Investor Highlights
The investment case for Onix Solar is anchored in the energy sector's structural growth dynamics in India — India's renewable energy transition and rising electricity demand — combined with the company-specific momentum reflected in the 98.83% six-month return.
With the current price 14.7% below the all-time high of Rs 782.20, the stock presents a different risk-reward profile than entry at the peak. The key analytical question is whether the correction from the high represents a value opportunity — supported by maintained or improving fundamental performance — or an ongoing normalisation from a prior speculative overshoot.
The positive quarterly profitability provides a verifiable earnings anchor that supports P/E-based valuation and dividend capacity assessment — distinguishing Onix Solar from the pre-revenue or loss-making entities in this collection where valuation is entirely expectation-dependent. Investors should track quarterly earnings trend data through BSE filings to assess whether the profit trajectory is improving, stable, or deteriorating relative to the current market capitalisation.
Frequently Asked Questions
Q: What does Onix Solar do and what sector does it operate in?
A: Onix Solar operates in India's energy sector, listed on BSE under ticker ONIXSOLAR. The company's specific products, services, and revenue model are documented in its annual report and exchange filings available through the BSE portal at bseindia.com. Investors should read these documents to form an accurate business understanding before drawing investment conclusions from price performance.
Q: What explains the six-month return of 98.83% for Onix Solar?
A: The 98.83% six-month return reflects a combination of positive sector-level sentiment in the energy space, company-specific operational improvements visible in the financial data, and market re-rating of the company's growth potential. The positive quarterly profit of Rs 25.67 crore and revenue growth provide fundamental support for the appreciation. Specific fundamental triggers — contract wins, capacity additions, or strategic announcements — should be verified through BSE exchange disclosures.
Q: How should investors interpret the ROCE of 10.21% for Onix Solar?
A: Return on capital employed of 10.21% measures the pre-tax profit generated per rupee of total capital deployed in the business. At 10.21%, the company generates returns above the typical cost of capital for Indian businesses — a positive signal that indicates the business creates rather than destroys economic value on the capital it employs.
Q: What is Onix Solar's current P/E and all-time high?
A: Onix Solar trades at a price-to-earnings multiple of 62.57x at the current price of Rs 682.10. The all-time high price is Rs 782.20, which is 14.7% above the current price — indicating the stock has corrected from its historical peak.
Q: Where can investors find Onix Solar's official financial data?
A: Onix Solar's quarterly results, annual reports, shareholding patterns, and all material corporate disclosures are filed with the BSE and are freely available through the BSE corporate filing portal at bseindia.com. SEBI's listing regulations mandate disclosure of all financial results, board decisions, and significant corporate events within prescribed timelines. These filings are the authoritative source of verified financial and operational data for investment analysis.