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Onix Renewable Unlisted Shares
DRHP Status : Not Filed
80
Fundamentals About Onix Renewable
Downloads & Investor Documents
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Key Financials of Onix Renewable
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 65 | 100 | 146 | 351 |
| Cost of Material Consumed | 61 | 90 | 98 | 284 |
| Gross Margins | 6.15 | 10 | 32.88 | 19.09 |
| Change in Inventory | -5 | -5 | -12 | -66 |
| Employee Benefit Expenses | 4 | 5 | 6 | 14 |
| Other Expenses | 3 | 7 | 42 | 61 |
| EBITDA | 2 | 3 | 12 | 58 |
| OPM | 3.08 | 3 | 8.22 | 16.52 |
| Other Income | 0.2 | 0 | 0 | 0 |
| Finance Cost | 0.8 | 0.9 | 1 | 4.5 |
| D&A | 0 | 0.1 | 0 | 1 |
| EBIT | 2 | 2.9 | 12 | 57 |
| EBIT Margins | 3.08 | 2.9 | 8.22 | 16.24 |
| PBT | 1.1 | 2 | 11 | 52.7 |
| PBT Margins | 1.69 | 2 | 7.53 | 15.01 |
| Tax | 0.1 | 0 | 2 | 13.3 |
| PAT | 1 | 2 | 9 | 39.4 |
| NPM | 1.54 | 2 | 6.16 | 11.23 |
| EPS | 7.87 | 12.9 | 58.06 | 235.93 |
Financial Ratios |
2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | 3.08 | 3 | 8.22 | 16.52 |
| Net Profit Margin | 1.54 | 2 | 6.16 | 11.23 |
| Earning Per Share (Diluted) | 7.87 | 12.9 | 58.06 | 235.93 |
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 6.4 | 7.5 | 7.35 | 10.8 |
| CWIP | 1 | 0 | 4 | 0 |
| Investments | 0 | 0 | 13 | 0 |
| Trade Receivables | 15 | 7 | 16 | 134 |
| Inventory | 7 | 12 | 24 | 106 |
| Other Assets | 8.6 | 9.5 | 25.65 | 245 |
| Total Assets | 38 | 36 | 90 | 495.8 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 1.27 | 1.55 | 1.55 | 1.67 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 4 | 8.6 | 17 | 95.8 |
| Borrowings | 7 | 10 | 15 | 89.7 |
| Trade Payables | 17 | 7 | 42 | 143 |
| Other Liabilities | 8.73 | 8.85 | 14.45 | 165 |
| Total Liabilities | 38 | 36 | 90 | 495.17 |
About Company
Onix Renewable Ltd is a diversified clean-energy company based in Rajkot, Gujarat. It operates across multiple verticals: solar (utility & rooftop), wind energy, hybrid systems, energy storage, green hydrogen, and power infrastructure (transmission, substation, distribution). Onix also manufactures solar PV modules, with current capacity ~100 MW and plans to scale up aggressively. It offers EPC (Engineering, Procurement & Construction) services, O&M (Operations & Maintenance), and develops its own energy projects (IPP – Independent Power Producer).
Recent Financial Performance
- For FY 2024-25, Onix Renewable reported total revenue of ₹1,001.30 crore, an increase of ~185%.
- Its EBITDA for FY 2024-25 was ₹164.45 crore, showing strong operational performance.
- Net Profit rose to ₹153.46 crore, with PAT at ₹114.79 crore — a YoY jump of ~190%.
- Onix is scaling its manufacturing: its plan includes expanding solar module capacity to 1,200 MW.
Business Model & Revenue Drivers
- IPP (Project Ownership): Onix builds and owns renewable energy assets (solar, wind, hybrid), earning power generation revenues.
- EPC Services: Offers turnkey project execution — design, procurement, construction, commissioning.
- Manufacturing: Produces its own solar modules; future plans include cell manufacturing
- O&M: Provides maintenance services for renewable assets — ensures stable long-term cash flow
- Green Hydrogen & Energy Storage: Betting on energy transition — hydrogen projects and storage will be future growth levers
Strengths & Growth Drivers
- Integrated Platform: Onix covers the entire clean-energy value chain — manufacturing, EPC, IPP, storage, hybrid, green hydrogen.
- Strong Project Footprint: Over 500 MW of projects completed.
- Ambitious Manufacturing Expansion: Plans to increase solar module capacity massively.
- Experienced Leadership: Founded and led by Divyesh Savaliya, supported by a seasoned team.
- Strategic Capital Raise: Onix is planning a ₹1,000 cr IPO to fund its expansion into solar / green hydrogen
- Strong Recent Financials: Very high growth in FY25 — strong earnings momentum.
Risks & Challenges
- CapEx Risk: Scaling manufacturing, green hydrogen, and storage requires significant capital.
- Execution Risk: Large growth ambitions may face project execution / commissioning risk
- Competition: Renewable energy space is crowded — many strong EPC / IPP players.
- Policy Risk: Dependence on favorable regulatory frameworks, especially for green hydrogen.
- Unlisted Share Risk: Pre-IPO investing is inherently risky; valuation expectations could be aggressive.
Valuation & Unlisted-Share Snapshot
- According to UnlistedXchange, Onix Renewable’s unlisted share price is ~₹ 11,950 per share.
- As per , the company’s unlisted valuation indicates:
- In June 2025, Onix announced a bonus issue (44:1) and increased its authorized share capital — a move that may improve liquidity and set the stage for its IPO.
- According to a company snapshot by UnlistedZone, its unlisted implied valuation is ~₹ 3,250 cr.
Quick Summary
Onix Renewable is a fast-growing, fully integrated clean-energy company, uniquely positioned in India across solar, wind, hybrid, storage, and green hydrogen. With strong execution in FY24-25, major expansion plans, and a pending IPO, it stands out as a promising long-term play in the green-energy space. However, being in a capital-intensive industry with aggressive growth targets, it comes with significant execution risk.
Shareholding Pattern of Onix Renewable
| Name | Holding |
|---|---|
| Promoters | 100% |
Promoters of Onix Renewable
| Name | Designation | Linkedin Profile |
|---|---|---|
| Divyesh Savaliya | Chairman & Founder | (No publicly verified LinkedIn found) |
| Piyush Savaliya | CEO / Director |  |
| Nikhil Savaliya | Director | (No publicly verified LinkedIn found) |
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Frequently Asked Questions
Onix Renewable Energy Ltd unlisted shares refer to equity in a privately held renewable energy company focused on solar, battery storage, and integrated clean energy solutions. These shares are not listed on NSE or BSE and can be bought through platforms like UnlistedKraft.
Yes, UnlistedKraft offers access to verified deals in Onix Renewable Energy Ltd unlisted shares. After completing KYC and placing your order, the shares are generally credited to your demat account within 24 hours.
Investing in unlisted shares carries risks such as limited liquidity and fewer disclosures. However, Onix Renewable operates in the growing clean energy sector, and transactions via UnlistedKraft are secure, verified, and transparent.
Pricing is based on recent private trades, company performance, investor demand, and market trends. UnlistedKraft regularly updates the price to reflect fair valuation.
Yes, you must have an active demat account to receive and hold Onix Renewable Energy Ltd unlisted shares.
There is no mandatory holding period unless the company goes public. Most investors hold shares until a liquidity event such as an IPO or acquisition, to benefit from long-term growth potential.
Yes, you can resell your shares through UnlistedKraft’s resale network, subject to buyer availability and prevailing market conditions.
Yes, SEBI regulations require a six-month lock-in period for pre-IPO investors once the company lists on a public exchange.
If held for more than two years, gains qualify as long-term capital gains taxed at 20% with indexation. If sold within two years, gains are treated as short-term and taxed as per your income tax slab.
UnlistedKraft gives you verified access to private investment opportunities in high-growth sectors like renewable energy, with transparent pricing, expert guidance, secure transactions, and fast deposit of shares into your demat account.
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