Sahaj Solar Limited · NSE:SAHAJSOLAR
Sahaj Solar — Investor Presentation (September 2025)
39 slides from Sahaj Solar's investor presentation, Nov 12, 2025
Slide 1: Exchange intimation of Investor Presentation
November 12, 2025 To, Listing Department, National Stock Exchange Limited Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (E), Mumbai-400 051 Scrip Code – SAHAJSOLAR Dear Sir/Ma’am, Sub.: Investor Presentation Ref.: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement
Slide 2: Investor Presentation September 2025
INVESTOR PRESENTATION SEPTEMBER 2025
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by and is the sole responsibility of Sahaj Solar Limited. By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or inducement to sell or
Slide 4: Table of Contents
01 Company at Glance 02 Strategic Updates Table of 03 Business Segments Contents 04 Financial Performance 05 Annexures
Slide 5: Company at a Glance
Company at a Glance
Slide 6: Sahaj Solar – Sustainability through Clean Energy
Sahaj Solar – Sustainability through Clean Energy A fast growing, vertically integrated renewable energy company, Sahaj Solar powers the entire clean-energy value chain - from high-performance PV module manufacturing, to large-scale water pumping solutions and end-to-end EPC projects.. 14+ Years 26%
Slide 7: Our Vision & Mission Statement
Our Vision & Mission Statement Our Vision To accelerate the shift to clean energy by building trusted, high-quality solar solutions that support India’s renewable future and create lasting value for customers and communities. Our Mission To empower individuals and organizations with end-to-end solar
Slide 8: A Fully Integrated, Synergistic Solar Ecosystem
A Fully Integrated, Synergistic Solar Ecosystem Manufacturing of Solar Water Pumps EPC, IPP & Solar Products Solutions Other Services 3.4% 3.4% 9.1% 9.10% 87.5% 9.10% 87.50% 87.5% 3.40% PV module Segment PV module Segment PV module Segment Solar Water Pumps Solutions Solar Water Pumps Solutions Sola
Slide 9: Strategic Updates
Strategic Updates
Slide 10: Strategic Growth Drivers
Strategic Growth Drivers 01 01 01 02 01 03 01 04 Scaling Global & Transformative Deepening Vertical High-Growth Solutions Domestic Footprint Capacity Expansion Integration powered by Strategic Partnerships Building a 1.6 GW Expanding our module facility with Manufacturing modules, Transformative new
Slide 11: Revenue grew 5x in four years..
Revenue grew 5x in four years.. Revenue (In INR cr) Exclusive partnership with IDMC (NDDB) to solarize India’s dairy A landmark year in cold-chain network by deploying Sahaj’s growth story, hybrid solar-battery systems for with revenue rising ~10,000 Bulk Milk Coolers over FY25 marked a major 60%+ Y
Slide 12: Our USPs
Our USPs Advanced, Integrated Manufacturing High-Growth Pipeline Through Capability Strategic Partnerships High-efficiency TOPCon, bifacial and anti-soiling Exclusive IDMC partnership to solarize the dairy modules built for superior performance. cold chain, complemented by major rooftop RESCO and EP
Slide 13: Strategic Partnership with IDMC for solarizing BMCs
White Revolution Meets Green Revolution: Strategic Partnership with IDMC for solarizing BMCs Overview Objective Sahaj Solar Ltd. has entered into an The partnership aims to deploy exclusive partnership with IDMC hybrid solar-battery systems to Limited, a subsidiary of NDDB, to 01 02 power Bulk Milk
Slide 14: Strategic Wins Across Rooftop, EPC & Pumping Solutions
Strategic Wins Across Rooftop, EPC & Pumping Solutions UPNEDA RESCO Rooftop Tender – Two High-Value EPC & Pumping Qualified Bidder Orders Secured Sahaj Solar qualified for UPNEDA’s largest-ever ₹62.8 Cr / 12 MW UPNEDA 500 MW rooftop RESCO tender, covering Turnkey Solar Project (July 2025) government
Slide 15: Future Guidance
Future Guidance 35-40%+ 12%+ Revenue Growth (3 Years CAGR) EBITDA Margin (In 3 Years) Key Drivers 01 02 03 04 Upcoming projects estimated Massive capacity expansion Invested in new innovative Continued Government Support to be completed by FY’26 from 100 MW to 1600 MW technology for Solar Panel with
Slide 16: Business Segments
Business Segments
Slide 17: Diversified and Growing Business Segments (FY'25)
Diversified and Growing Business Segments (FY’25) Product Wise Customer Wise Geographic Presence Statewise Domestic Revenue Breakup in INR Cr. 30 West Bengal, Assam, 11 21% 5.0% 0.3% 3.0% Others, 6.0% 79% 99.7% 288 PV module Segment Government Projects Solar Water Pumps Solutions Maharashtra, Non Go
Slide 18: Manufacturing of Solar Panels: Strong Growth Ahead
01. Manufacturing of Solar Panels: Strong Growth Ahead Revenue from PV module Segment Installed Capacity (MW) Existing Capacity (Rs. Crores) State of art solar PV module manufacturing capacity of 100 MW at its plant 56 54 in Bavla, Gujarat. 1600 44 41 30 100 FY21 FY22 FY23 FY24 FY25 5 FY14 FY24 FY27
Slide 19: Global Energy Landscape for Solar
Global Energy Landscape for Solar In the next 5 years… Solar to Become the Largest Source of Renewable Capacity Globally by 2030 Global solar capacity is projected to exceed ~7,000 GW by 2030, making solar the biggest renewable technology worldwide, surpassing hydro and wind. c.435 GW India’s share
Slide 20: Fully Integrated Solar Water Pumping Solutions
02. Fully Integrated Solar Water Pumping Solutions Product Type Project Size • AC Pumps • Submersible Pumps 1HP, 2HP, 3HP, 5HP, • DC Pumps • Surface Pumps 7.5HP, 10HP Backward Integration In-house fabrication of major components has helped the Forward Integration company build a strong connect on th
Slide 21: Exponential Growth Segment
Exponential Growth Segment Revenue from Solar Water Pumps (Rs. Crores) Solar Water Pump as a % of Revenue 88% 288 71% 70% 132 142 21% 21 5% 3 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 The revenue contribution from Government initiatives and PV Modules contribute as the solar water pumping so
Slide 22: Government reforms supporting Solar water Pumps Solutions
Government reforms supporting Solar water Pumps Solutions Uttar Pradesh scaled its solar Rajasthan surpassed 12 GW of solar irrigation efforts by commissioning capacity in FY25, becoming a 18,000 pumps in FY25 under Phase II, 01 02 frontrunner in hybrid systems. Its with plans to expand deployment t
Slide 23: Offering End-to-End EPC Capabilities – Emerging Growth Engine
03. Offering End-to-End EPC Capabilities – Emerging Growth Engine Provider of Ground Mount Solar Systems, Domestic Pipeline: rooftop solar power plants, solar streetlights, solar mobile trolleys, home lights and off grid power plants. Project Type Estimated Value (Rs. Cr) Status Solar Water Pumping
Slide 24: Enhancing the PAN India Presence and capitalizing on promising markets
Enhancing the PAN India Presence and capitalizing on promising markets.. Expanding Regional Foothold • Solar water pump project execution across Haryana, Uttar Pradesh, Maharashtra, Tripura, Assam & Gujarat. • 4.8 MW DREBP government plant under execution in Gujarat. • ₹62.8 Cr / 12 MW UPNEDA Turnke
Slide 25: Empaneled partner for various GOI Projects
Empaneled partner for various GOI Projects 1.3 Crores 16 Crores 134.4 Crores 117.3 Crores 329.8 Crores 97.95% 76.06% 78.83% 72.51% 58.29% 41.71% 23.49% 27.49% 21.17% 2.05% FY21 FY22 FY23 FY24 FY25 Government Orders Non-Government Orders Partnered with JAL JEEVEN MISSION - - GUVNL (Gujarat) offers a
Slide 26: Financial Performance
Financial Performance
Slide 27: Financial Performance
Financial Performance Revenue (in INR crores) EBITDA (in INR crores) & EBITDA Margin(%) PAT (in INR Cr) & PAT Margin(%) 330 42 28 12% 7% 8% 10% 5% 5% 6% 201 185 24 5% 3% 13 2% 111 11 11 6 67 5 4 1 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25 H1FY26 D/E Total Working Capi
Slide 28: Key Performance Indicators
Key Performance Indicators (Rs. In Crores except percentages and ratios) Key Financial Performance FY22 FY23 FY24 FY25 3Y-CAGR H1FY26 Revenue from 67 185 201 330 70% 111 Operations EBITDA 4 11 24 42 121% 11 EBITDA Margin 6% 6% 12% 13% - 10% PAT 1 6 13 28 201% 5 PAT Margin 2% 3% 7% 8% - 5% Note: Figu
Slide 29: Key Performance Indicators
Key Performance Indicators (Rs. In Crores except percentages and ratios) Particulars FY24 FY25 YoY H1FY26 H1FY25 YoY Revenue from 201 330 64% 111 98 13% Operations EBITDA 24 42 73% 11 8 33% EBITDA Margin 12% 13% - 10% 9% - PAT 13 28 109% 5 5 2% PAT Margin 7% 8% - 5% 5% - Note: Figures have been roun
Slide 30: Statement of Profit and Loss
Statement of Profit and Loss (Rs. In Crores except percentages and ratios) Particulars FY24 FY25 YoY H1FY26 H1FY25 YoY Revenue from Operations 201 330 64% 111 98 13% Other income 1 1 - 0 1 - Total Income 202 331 - 112 99 - COGS 153 264 - 87 82 - Gross Profit 49 66 35% 24 16 51% Margin 24% 20% - 22%
Slide 31: Statement of Balance Sheet
Statement of Balance Sheet Particulars FY23 FY24 FY25 H1FY26 Particulars FY 23 FY24 FY25 H1FY26 Equity and Liabilities Non-Current Assets Shareholders’ funds - - - - PPE, Intangible Assets and Capital WIP 8 7 6 18 a. Share capital 8 8 11 22 Non-Current Investment - - - - b. Reserves and surplus 9 25
Slide 32: CAPEX Plan ~CY'25
CAPEX Plan ~CY’25 CAPEX Plans Land & Building Plant & Machinery Building Others Imported Miscellaneous Rs. 17 Cr Rs. 2.2 Cr Rs. 25 Cr Rs. 0.8 Cr *First 750MW expansion estimated to be completed by October 2025. PRIVATE & CONFIDENTIAL 31
Slide 33: Annexures
Annexures
Slide 34: A Workforce that sets the Standard for Success
A Workforce that sets the Standard for Success Pramit Brahmbhatt Kanaksinh Gohil Manan Brahmbhatt Managing Director Executive Director Chief Financial Officer He has driven the company's He leads strategic operations and His expertise in Finance, Operations, impressive growth from 5 MW oversees Vera
Slide 35: Strong, Driven Board..
Strong, Driven Board.. Sureshchandra Nahrsinh Rao Amita Parikh Dilip Joshi Non-Executive Director Independent Director Independent Director He brings over 43 years of experience in IT She brings over 30 years of experience in He brings over 33 years of experience in project management, data analytic
Slide 36: Strong, Driven Board..
Strong, Driven Board.. Shardul Thakore Niren Dalal Executive Director Independent Director With over 33 years of experience in the energy With over 30 years of service in the Ministry of (20 years) and infrastructure (13 years) sectors, Finance, Government of India, Mr. Niren Dalal Mr. Shardul Thako
Slide 37: Diversifying Client Base
Diversifying Client Base Contribution from Top 10 Clients 90% 83% 67% FY23 FY24 FY25 FY23 FY24 FY25 PRIVATE & CONFIDENTIAL 36
Slide 38: Our Projects
Our Projects PRIVATE & CONFIDENTIAL 37
Slide 39: Let's Connect!
Company Contact: Let’s Connect! Poonam Panchal Company Secretary cs@sahajsolar.com Investor Relations Contact: Nikhar Arora Janhavi Kankriya Research Analyst Research Analyst nikhar@goindiaadvisors.com janhavi@goindiaadvisors.com