Apollo Green Energy Limited Share Price

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Apollo Green Energy is not a company that showed up yesterday with a flashy pitch deck and a renewable energy tagline. It has been operating since 1994 three decades of actual work in the field, not just ambition on paper. It is part of the Apollo Group, which has built businesses across healthcare, logistics, and several other industries over the years, giving AGEL a foundation that pure-play startups simply do not have.

Clean energy is what this company does solar, wind, and storage. But what separates it from many others in this space is that it does not stop at just developing projects. It takes the whole thing on, right from the initial engineering work through procurement and all the way to construction. That complete ownership of the process is why serious clients keep coming back.

And the clients speak for themselves. NHPC, Adani Green, IOCL these are not names that hand out contracts easily. Winning their business, and more importantly, keeping it, tells you something real about how AGEL actually performs once the work begins. The order book as of March 2024 was sitting at ₹1,800 crore, which translates to roughly two and a half to three years of work already lined up. That kind of forward visibility is exactly what investors want to see before putting money into a company.

The bulk of revenue flows in from the EPC side of the business. There is also a trading segment tyres and tubes, which might seem out of place at first glance, but it is a holdover from the Apollo Group's older, more diversified roots. It is not the most glamorous part of the story, but it contributes, and it has been around long enough to be reliable.

The company runs out of Gurgaon day to day, with its registered office in New Delhi. Raaja Kanwar, who founded the business, continues to lead it as Managing Director. Sanjay Gupta handles the CEO role. Both have spent serious time in energy and infrastructure, not the kind of leadership that needs to learn on the job when a large government tender comes around.

The financial projections give reasonable cause for optimism. The numbers being projected for FY27 are worth paying attention to ₹2,050 crore in revenue and a net profit of around ₹162 crore. Those are not transformational figures, but they are solid, and they point in the right direction. On the debt side, the gearing ratio is expected to stay under 0.76x by March 2025. For a company that is actively expanding into new segments, that level of borrowing is measured. They are growing, but not at the cost of loading up the balance sheet recklessly.

The next chapter for AGEL involves wind energy at a larger scale, battery storage, and EV charging areas, where India is going to pour significant money over the next several years. These moves are not speculative. They sit right in the path of where government policy and private capital are both heading as India pushes hard toward its 2030 clean energy targets.

The IPO has been in the works for a main board listing by FY26. For anyone who has been tracking this company in the unlisted market, the opportunity is worth looking at with fresh eyes, not just because of the listing, but because of what is actually being built here.