Incorporated in January 2008, Prostarm Info Systems Limited is an Indian company specialising in designing, manufacturing, and selling Energy Storage and Power Conditioning Equipment.[1]
Business Transition[1]Incorporated in 2008, the company began operations by selling, supplying, and installing third-party-manufactured batteries and uninterruptible power supply (UPS) systems. Over the years, it has transitioned into designing, manufacturing, and assembling a broad portfolio of energy storage and power conditioning equipment under its brand.In 2018, the company diversified into the EPC (Engineering, Procurement, and Construction) segment for rooftop solar PV projects, leveraging its core capabilities in power solutions.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Waaree Energies | 2714.30 | 28.89 | 78074.37 | 0.07 | 878.21 | 132.97 | 6065.64 | 69.70 | 34.94 | 17952.69 | 22.55 | 2702.29 | 842.55 | 6.80 | 12.40 | 0.26 |
| 2. | Premier Energies | 787.75 | 29.88 | 35684.63 | 0.13 | 353.44 | 71.61 | 1836.87 | 20.28 | 41.12 | 6991.77 | 30.77 | 1194.26 | 353.44 | 10.33 | 17.90 | 0.47 |
| 3. | Apar Inds. | 8172.50 | 34.94 | 32827.56 | 0.62 | 251.70 | 29.82 | 5715.42 | 23.06 | 32.70 | 20745.76 | 8.33 | 939.50 | 251.70 | 6.77 | 7.83 | 0.14 |
| 4. | Emmvee Photovol. | 184.91 | 22.39 | 12802.15 | 0.00 | 237.86 | 577.28 | 1131.00 | 181.06 | 28.01 | 2335.61 | 30.91 | 368.94 | 237.86 | – | 12.12 | 2.15 |
| 5. | Waaree Renewab. | 953.80 | 28.18 | 9952.50 | 0.10 | 116.35 | 117.22 | 774.78 | 47.73 | 82.31 | 2214.90 | 21.39 | 353.17 | 116.30 | 15.11 | 25.06 | 0.12 |
| 6. | Genus Power | 295.25 | 19.00 | 8982.03 | 0.83 | 148.15 | 162.44 | 1149.00 | 135.99 | 19.21 | 3632.39 | 21.18 | 472.85 | 148.15 | 4.79 | 8.43 | 0.93 |
| 7. | Vikram Solar | 239.71 | 33.28 | 8685.42 | 0.00 | 128.49 | 1645.79 | 1109.91 | 93.72 | 26.45 | 3423.45 | 14.37 | 139.83 | 128.49 | 2.94 | 5.16 | 0.09 |
| 8. | Prostarm Info | 181.42 | 43.33 | 1068.10 | 0.00 | 8.46 | -39.66 | 64.61 | -34.41 | 29.95 | 269.15 | 13.90 | 24.65 | 8.46 | 3.85 | 13.73 | 0.06 |
| – | Median: 58 Co. | 207.35 | 29.67 | 666.74 | 0.0 | 9.61 | 52.08 | 117.8 | 25.18 | 20.17 | 378.67 | 13.38 | 25.55 | 9.7 | 4.36 | 8.4 | 0.37 |
Standalone figures in ₹ crores
| Dec 2024 | Jun 2025 | Mar 2025 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|
Sales | 75.59 | 50.98 | 77.97 | 98.51 | 64.61 |
Expenses | 64.09 | 47.56 | 66.81 | 77.76 | 53.28 |
Operating Profit | 11.50 | 3.42 | 11.16 | 20.75 | 11.33 |
Other Income | 0.81 | 0.83 | 0.26 | 0.45 | 1.52 |
Profit before tax | 10.47 | 2.15 | 9.49 | 18.89 | 11.35 |
Tax % | 25.60% | 27.44% | 27.82% | 25.78% | 25.55% |
Net Profit | 7.79 | 1.56 | 6.84 | 14.02 | 8.46 |
EPS in Rs | 1.82 | 0.26 | 1.60 | 3.27 | 1.44 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
Sales | 110 | 131 | 171 | 229 | 256 | 346 | 269 |
Expenses | 102 | 120 | 154 | 201 | 220 | 298 | 232 |
Operating Profit | 9 | 11 | 17 | 28 | 36 | 48 | 37 |
Other Income | 1 | 1 | 1 | 2 | 1 | 2 | 3 |
Interest | 0 | 0 | 1 | 1 | 4 | 6 | 5 |
Depreciation | 0 | 0 | 1 | 1 | 1 | 2 | 2 |
Profit before tax | 9 | 11 | 16 | 28 | 32 | 41 | 33 |
Net Profit | 7 | 8 | 12 | 21 | 24 | 31 | 25 |
EPS in Rs | 30.47 | 9.13 | 13.12 | 4.81 | 5.59 | 7.12 | 5.12 |
Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | – |
Standalone figures in ₹ crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
Equity Capital | 2 | 9 | 9 | 43 | 43 | 43 | 59 |
Reserves | 20 | 21 | 32 | 19 | 43 | 74 | 219 |
Borrowings | 1 | 0 | 3 | 24 | 43 | 67 | 16 |
Other Liabilities | 55 | 42 | 49 | 60 | 71 | 60 | 52 |
Total Liabilities | 78 | 72 | 93 | 146 | 200 | 244 | 345 |
Fixed Assets | 1 | 3 | 5 | 6 | 13 | 22 | 29 |
Gross Block | 2.79 | 4.05 | 6.61 | 10.48 | 18.30 | 30.19 | – |
Accumulated Depreciation | 1.66 | 1.52 | 1.97 | 4.57 | 5.73 | 8.05 | – |
CWIP | -0 | -0 | -0 | 9 | 9 | -0 | 0 |
Investments | 3 | -0 | 7 | 3 | 3 | 15 | 15 |
Other Assets | 74 | 69 | 82 | 128 | 175 | 207 | 302 |
Total Assets | 78 | 72 | 93 | 146 | 200 | 244 | 345 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
Cash from Operating Activity | 0 | -1 | 7 | -13 | -8 | -6 |
Cash from Investing Activity | -0 | 0 | -8 | -8 | -8 | -13 |
Cash from Financing Activity | -0 | -0 | 2 | 20 | 16 | 19 |
Net Cash Flow | -1 | -1 | 1 | -1 | -0 | 0 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
Debtor Days | 175 | 98 | 67 | 107 | 128 | 113 |
Inventory Days | 32 | 62 | 82 | 78 | 115 | 76 |
Days Payable | 219 | 135 | 128 | 117 | 125 | 76 |
Cash Conversion Cycle | -12 | 25 | 21 | 68 | 118 | 113 |
Working Capital Days | 36 | 50 | 38 | 57 | 74 | 69 |
ROCE % | – | 42% | 45% | 45% | 34% | 30% |
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Stock Analysis
Prostarm Info Systems Limited is an Indian company specializing in energy storage and power conditioning equipment, actively expanding its manufacturing base and order book.
Growth is primarily driven by its strategic expansion into Battery Energy Storage Systems (BESS) manufacturing, securing large orders like the KPTCL BESS project and the Maharashtra Police IT contract, and establishing a new UPS manufacturing unit in Gujarat.
As per the Q2/H1 FY26 investor presentation, the company's order book stood at INR 10,563 Mn, significantly supported by BESS projects. This follows earlier reported order book values.
The resignation of a Whole-Time Director due to health concerns is a notable governance event. The company also experienced a year-on-year revenue decline in its recent Q2 FY26 results, although sequential performance showed improvement.
The upcoming announcement of Q3 FY26 financial results and the ongoing execution phase of major BESS and IT projects remain key focus areas.
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