Onix exhibited robust revenue growth, with a 121% year-on-year increase in FY24 and a two-year compound annual growth rate (CAGR) of 80%. FY24 revenue reached ₹ 323 crore, accompanied by a profit after tax (PAT) growth of ₹ 37.6 crore.
The company maintains a conservative financial profile, with a debt-to-tangible net worth ratio consistently below 40%. Profitability has significantly improved, reflected in a three-year average return on equity (ROE) of 36% and a PAT margin expansion of over 900 basis points from 2.2% in FY22 to 11.6% in FY24.
The company possesses a robust order book of INR 542.31 crore as of February 29, 2024, representing 3.70 times the FY23 revenue. This substantial order backlog ensures strong revenue visibility for the next 12-18 months. Additionally the company has a track record of catering to numerous heavy duty clients such as TATA Power, Thermax, KSIPL, WAAAREE, ACME, JET Granto and IRB among others
The company boasts a proven track record of successfully commissioning over 500 MW of projects. To further strengthen its market position, the company is expanding its operations into solar PV module manufacturing, with an initial capacity of 100 MW and ambitious plans to scale up to 1200 MW by the end of 2024.
The company on July, 2024 raised ₹ 278.12 Cr on a preferential basis from an assortment of investors including Ebisu Global Opportunities Fund Limited at a valuation of ~₹740 Cr i.e. at a P/S of 2.3 and P/E of 20, with a share price of Rs 4,450/.
Proudly designated as Chairman & Managing Director at Onix Renewable Limited with 15+ Years experience of on grid or off grid Power Distribution & turnkey based Transmission, Hybrid Large Scale MW Projects on PAN India level, so as to grow, and succeed in the world of Business long-drawn-out since 2008. History of achieving/exceeding targets in business development sectors, pioneering new and innovative products and entry to new market. Strategic planning and execution of new projects that include Renewable Energy, Power Distribution, and Power Generation sectors. Also having strings attached with Government, International business, has proven the effective capability of leadership and nurturing guidance as well as mentioning the team. Studied as Electrical Engineering & MBA in Business Management.
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