Apollo Green Energy Unlisted Shares
Apollo Green Energy Ltd.
INE838A01015
Incorporation Date: 25-Aug-1994
Listing Status: DRHP Not Filed
About Apollo Green Energy Unlisted Shares
Overview of Apollo Green Energy Unlisted Shares
Apollo Green Energy Limited
Apollo Green Energy Limited (AGEL) is the renewable-energy and clean-energy business of the Apollo International Group, focused on developing and executing integrated renewable energy projects. The company operates primarily as an Engineering, Procurement and Construction (EPC) solutions provider, with capabilities spanning project development, engineering, construction, commissioning and long-term operations. Its current focus areas include utility-scale solar, wind, hybrid renewable systems, energy storage and green hydrogen infrastructure.
🏢 Introduction & Infrastructure
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Established: 1994, originally incorporated as Apollo International Limited and subsequently repositioned as Apollo Green Energy Limited.
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Corporate Office: Gurugram, Haryana.
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Business Focus: Renewable-energy EPC and integrated clean-energy solutions.
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EPC Capabilities: End-to-end project execution covering engineering, procurement, construction, commissioning and project management.
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Project Execution: Experience in large-scale infrastructure and energy projects, supported by engineering and project-management teams.
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Technology Infrastructure: Uses modern renewable-energy technologies, project-design tools and energy-management systems.
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Quality & Safety: Operations are supported by structured Quality, Safety, Health and Environment (QSHE) systems.
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Human Capital: Supported by a large technical and project-execution workforce comprising engineers, project managers and skilled personnel.
⚙️ Business Model & Operational Verticals
Apollo Green Energy follows an integrated renewable-energy EPC model, providing customers with end-to-end solutions rather than limiting its role to individual equipment or construction activities.
1. Utility-Scale Solar — Core Vertical
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Large-scale solar power projects
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Solar PV system design and engineering
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Procurement and installation
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Grid integration
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Project commissioning and operations support
2. Wind Energy
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Onshore wind projects
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Wind-resource assessment
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Turbine selection and project design
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EPC and project execution
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Grid-connected renewable power systems
3. Hybrid Renewable Energy
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Solar-wind hybrid projects
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Integrated renewable-power systems
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Renewable generation combined with storage
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Energy-management solutions
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Hybrid systems designed to improve power availability and grid stability
4. Energy Storage Solutions
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Battery Energy Storage Systems
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Renewable-energy storage integration
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Grid-balancing and power-management solutions
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Storage solutions designed to improve renewable-power reliability
5. Green Hydrogen
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Renewable-powered green hydrogen production infrastructure
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Electrolysis-based hydrogen systems
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Integration of renewable energy with industrial applications
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Development of scalable clean-energy infrastructure
👥 Management Structure
Apollo Green Energy is led by senior leadership from the Apollo International Group along with professionals experienced in renewable energy, infrastructure and project execution.
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Raaja Kanwar — Chairman & Managing Director, Apollo International Group
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Sanjay Gupta — Chief Executive Officer, Apollo Green Energy Limited
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Anirudha Tikhe — Chief Human Resources Officer
The leadership team is supported by professionals across engineering, project management, procurement, construction, renewable-energy technology, finance, operations and business development.
📦 Key Product & Program Portfolio
| Solution / Program | Key Application |
|---|---|
| Utility-Scale Solar | Large-scale renewable electricity generation |
| Solar EPC Solutions | End-to-end engineering, procurement and construction |
| Wind Energy Projects | Onshore renewable power generation |
| Solar-Wind Hybrid Systems | Integrated renewable generation and improved power reliability |
| Battery Energy Storage | Renewable-power storage, grid stability and energy management |
| Green Hydrogen Infrastructure | Renewable-powered hydrogen production |
| Grid Integration Solutions | Connection of renewable projects to power networks |
| Operations & Maintenance | Long-term project performance and asset support |
🔧 Key Business Capabilities
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End-to-end EPC execution from project conception through commissioning.
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Integrated capabilities across engineering, procurement, construction and project management.
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Experience in large-scale infrastructure and renewable-energy project execution.
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Ability to combine solar, wind and energy storage into integrated power systems.
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Developing capabilities in green hydrogen infrastructure.
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Technology-led project design focused on improving energy output and system efficiency.
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Strong project-management and execution capabilities supported by experienced technical teams.
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Backing of the broader Apollo International Group and its infrastructure and engineering experience.
🌐 Project & Customer Ecosystem
Apollo Green Energy's solutions are designed for customers and projects across the broader energy and infrastructure ecosystem, including:
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Renewable-energy developers
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Power-generation companies
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Utilities
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Industrial energy consumers
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Infrastructure companies
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Government and institutional projects
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Commercial and industrial customers seeking clean-energy solutions
The company focuses on providing customised renewable-energy infrastructure based on project size, location, grid requirements and customer energy needs.
⭐ Key Business Highlights
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Renewable-energy EPC platform backed by the Apollo International Group.
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More than two decades of EPC experience through the wider Group's project-execution capabilities.
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Focused on India's transition toward renewable and low-carbon energy infrastructure.
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Broad solution portfolio covering solar, wind, hybrid systems, energy storage and green hydrogen.
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End-to-end concept-to-commissioning project capabilities.
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Growing focus on integrated renewable systems rather than standalone generation technologies.
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Combination of engineering expertise, technology integration and project-management capabilities.
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Positioned to participate across multiple emerging areas of India's clean-energy infrastructure ecosystem.
Insights of Apollo Green Energy Unlisted Shares
Apollo Green Energy Ltd.
1. Financial Highlights – FY24 vs FY25
All monetary values are in ₹ Crore. FY25 is the latest full-year financial data available from the company’s reported financials.
| Metric | FY24 | FY25 | YoY Growth | Margin FY24 | Margin FY25 |
|---|---|---|---|---|---|
| Net Revenue | 1,234.00 | 806.48 | -34.65% | — | — |
| EBITDA | 72.10 | 49.46 | -31.40% | 5.84% | 6.13% |
| PBT | 41.17 | 42.58 | +3.43% | 3.34% | 5.28% |
| PAT | 38.59 | 33.66 | -12.77% | 3.13% | 4.17% |
Key Insight:
Revenue declined 34.7% in FY25 to ₹806.48 Cr, mainly reflecting the company's restructuring and exit from certain non-core activities.
Despite the sharp revenue decline, PBT increased 3.4%, supported by lower finance costs and higher other income.
EBITDA declined 31.4%, but the EBITDA margin improved slightly from 5.84% to 6.13%, while PAT declined 12.8% to ₹33.66 Cr.
2. Key Company Developments
Renewable-focused business strategy: Apollo Green Energy is increasingly focused on renewable-energy EPC, particularly utility-scale solar projects, while also developing capabilities in wind, energy storage, green hydrogen and hybrid power systems.
Large project execution pipeline: Earlier disclosed project data indicated ₹2,527 Cr of projects under execution and ₹1,024 Cr of projects awarded, giving the company a substantial execution pipeline. The company had also targeted building a larger renewable-energy-led order book.
Major solar project activity: Apollo Green Energy has been involved in large-scale solar EPC activity, including projects associated with Gujarat's Khavda renewable-energy ecosystem. A solar project awarded by Apollo Green Energy to Hazoor Multi Projects was reported at approximately ₹913 Cr, demonstrating the scale of projects being executed in the segment.
Shift toward renewable energy: Management has indicated a greater emphasis on renewable projects, with approximately 90% of the targeted project portfolio expected to be renewable-energy focused.
Balance-sheet pressure remains relevant: FY25 consolidated debt was approximately ₹493 Cr, while operating cash flow was only around ₹2 Cr, indicating that project execution and working-capital management remain important factors for the business.
3. Industry Insights & Trends
India's renewable capacity expansion continues: The country's push toward large-scale solar and other renewable projects is creating a substantial EPC opportunity for companies with project-execution capabilities.
Utility-scale solar remains a major growth segment: Large solar parks and state-level renewable programmes are driving demand for EPC contractors capable of handling engineering, procurement, construction and commissioning at scale.
Energy storage is becoming increasingly important: As renewable penetration increases, Battery Energy Storage Systems (BESS) are becoming important for managing intermittency and improving grid flexibility.
Renewable-energy EPC is becoming more competitive: While the opportunity is large, EPC companies face pressure from competitive bidding, equipment costs, working-capital requirements and execution timelines. Maintaining margins therefore remains important.
Diversification beyond solar: Wind, hybrid renewable systems, energy storage and green hydrogen are emerging as additional areas of opportunity as India's clean-energy ecosystem develops.
4. Latest Funding & Valuation
Current unlisted-market reference: Recent unlisted-market data indicates Apollo Green Energy at approximately ₹65–₹68 per share, implying a market capitalization in the range of roughly ₹260–₹325 Cr, depending on the quoted price and share-count methodology.
At approximately ₹68 per share, the implied market capitalization is around ₹326 Cr based on the reported outstanding share count.
Based on FY25 consolidated PAT of ₹33.66 Cr, this corresponds to an indicative P/E of roughly 9–10x.
IPO status: No confirmed DRHP filing or IPO timetable is currently established, so the valuation remains an unlisted-market reference rather than a public-market valuation.
5. Peer Comparison
A peer comparison is relevant because Apollo Green Energy operates in the renewable-energy EPC and infrastructure segment. However, direct listed peers are generally much larger, so the comparison should primarily be viewed as a business-model and financial-scale benchmark.
| Metric – Latest Available FY | Apollo Green Energy | Waaree Renewable Technologies | KPI Green Energy | Sterling & Wilson Renewable Energy |
|---|---|---|---|---|
| Revenue (₹ Cr) | 806.48 | ~1,600 | ~1,900 | ~1,700 |
| Revenue Growth | -34.7% | Positive | Positive | Positive |
| EBITDA (₹ Cr) | 49.46 | ~300 | ~500 | ~100 |
| EBITDA Margin | 6.13% | ~19% | ~26% | ~6% |
| PAT (₹ Cr) | 33.66 | ~200 | ~300 | ~30 |
| PAT Margin | 4.17% | ~12% | ~16% | ~2% |
| Business Focus | Renewable EPC & Energy Infrastructure | Solar EPC & Renewable Projects | Solar Power Generation & EPC | Renewable EPC & Solar Projects |
| Listed | No | Yes | Yes | Yes |
Peer observation: Apollo Green Energy is considerably smaller than the established listed renewable-energy players. Its FY25 financial performance also reflects a much lower operating scale and thinner profitability, although the company is attempting to build a larger renewable-energy project pipeline. The key financial variables to monitor are order-book conversion, execution speed, working-capital generation and EBITDA margin.
Key Takeaways
Apollo Green Energy's FY25 revenue declined 34.7% to ₹806.48 Cr, but PBT remained relatively stable and increased 3.4%, partly due to lower finance costs and higher other income.
The company's strategic focus is shifting strongly toward renewable-energy EPC, particularly large-scale solar projects, with energy storage, wind and other clean-energy solutions providing potential avenues for expansion.
The key areas to monitor are order-book execution, working-capital generation, debt levels and margin improvement, as the company's future growth depends heavily on converting its renewable project pipeline into profitable execution.
Financial Charts of Apollo Green Energy Unlisted Shares
Balance Sheet of Apollo Green Energy Unlisted Shares
Profit and Loss of Apollo Green Energy Unlisted Shares
Ancillary of Apollo Green Energy Unlisted Shares
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of Apollo Green Energy Unlisted Shares
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How to buy Apollo Green Energy Ltd.?
Below are three ways through which you can purchase Apollo Green Energy Ltd.:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to buy Apollo Green Energy Ltd., please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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How to sell Apollo Green Energy Ltd.?
Below are three ways through which you can sell Apollo Green Energy Ltd.:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell Apollo Green Energy Ltd., please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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What is the price of Apollo Green Energy Ltd.?
We provide a two way quote on all the shares we deal in. Your buy price for Apollo Green Energy Ltd. is ₹75 and your sell price for Apollo Green Energy Ltd. is ₹60. The price is based on our estimates and market conditions.
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What is the lock-in period of Apollo Green Energy Ltd.?
The lock-in period for Apollo Green Energy Ltd. varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Apollo Green Energy Ltd.
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Apollo Green Energy Ltd.
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
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How is the Apollo Green Energy Ltd. price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of Apollo Green Energy Ltd.. The price is also determined from the most recent funding round for Apollo Green Energy Ltd.. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
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What are the lot sizes of Apollo Green Energy Ltd.?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of Apollo Green Energy Ltd. with us kindly click here.
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What are the financials of Apollo Green Energy Ltd.?
The financials of Apollo Green Energy Ltd. which includes the P/L of Apollo Green Energy Ltd. and the Balance Sheet of Apollo Green Energy Ltd. is in the financials section (Click on link).
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Where can I find the annual report of Apollo Green Energy Ltd.?
The annual report of Apollo Green Energy Ltd. is available in the annual report section (Click on link).
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Is buying Apollo Green Energy Ltd. legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
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Short-term Capital Gain taxes to be paid on Apollo Green Energy Ltd.?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
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Long-term Capital Gain taxes to be paid on Apollo Green Energy Ltd. and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
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Applicability of Taxes on Apollo Green Energy Ltd. once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
How does Altius Investech source Apollo Green Energy Ltd.?
At Altius Investech, our approach to sourcing Apollo Green Energy Ltd. unlisted shares involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of Apollo Green Energy Ltd. unlisted shares. This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
How to trust Altius Investech before buying Apollo Green Energy Ltd. from its platform?
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With more than 25 years of experience, Altius Investech has carved a niche in the financial market by serving more than 8000 clients. The incredible journey is further highlighted by the vast number of transactions that Altius Investech has facilitated transactions that have already exceeded 300 crores.
For investors Altius Investech curates investment opportunities in companies at reasonable valuations which are on the verge of an IPO leading to massive value unlocking. Investments are backed by thorough research and sound investment thesis, with a time bound exit plan.
For ESOP Shareholder and existing Investors, we assist them to liquidate their shares even if they are not publicly traded by creating a platform where we find the right buyers and sellers for the best prices.
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