GP Eco Solutions Subsidiary Bags ₹72.06 Cr Orders for Solar Inverters and BESS

Synopsis: GP Eco Solutions India Limited, in a filing to stock exchanges, said its wholly owned subsidiary, Invergy India Private Limited, has received several Letters of Award (LOAs) and a Memorandum of Understanding (MoU) aggregating to Rs 72.06 crore. 

India’s renewable energy transition is more than simply focusing on solar. Then the combination of efficient power conversion equipment and large-scale battery storage systems will fuel growth through improved grid reliability and energy management. This was followed by GP Eco Solutions India Limited’s wholly owned subsidiary, Invergy India Private Limited, winning a mixed order for solar power infrastructure and energy storage.

Shares of GP Eco Solutions India Limited closed at Rs 434.5, up by 0.28 percent from the previous close of Rs 433.3. The stock opened at an intraday high of Rs 435 and reached a low of Rs 420. The company currently commands a market capitalisation of Rs. 513 crore.

Order

GP Eco Solution’s wholly owned subsidiary has received multiple Letters of Award (LOAs) and a Memorandum of Understanding (MoU) from two domestic entities for a consolidated value of Rs 72.06 crore. The consolidated order consists of several renewable energy products for various applications. 

The first Letter of Award includes the supply of INVERGY Model INV 350 TP-350 kW three-phase photovoltaic string inverters worth Rs 12.24 crore, along with 25 MW TBEA-make 3300 kW and 4400 kW three-phase photovoltaic central inverters valued at Rs 2.69 crore. 

The company has also secured an order worth Rs 19 crore for supplying Invergy 20 MWh Battery Energy Storage Systems (BESS). These orders are scheduled for execution by December 31, 2026.

Separately, the company has entered into a Memorandum of Understanding for the supply of Invergy Make INV 350 TP-350 kW Grid-Tied Transformerless String Inverters valued at Rs 38.14 crore. This order is expected to be executed by March 31, 2027, extending the company’s revenue visibility into the next financial year.

Why these Products Matter

The order is strategically spread across three key solar power plant components.  String inverters convert solar panel-generated DC into grid-supplied AC. Their modular design and efficiency make them popular in commercial and utility-scale solar installations.

Central inverters perform the same conversion function but at significantly larger capacities, making them suitable for utility-scale solar parks with high power generation requirements. Battery Energy Storage Systems (BESS) store excess solar power and release it when demand rises or generation drops. Battery storage is becoming more important for grid stability, energy reliability, and intermittency as renewable energy penetration rises.

Unlike a conventional solar equipment order, this contract spans both power generation and energy storage, reflecting the industry’s gradual transition to integrated renewable energy solutions.

The addition of a 20 MWh battery energy storage system shows the company’s increasing exposure to one of the fastest-growing segments of the renewable energy industry. As developers seek to boost power availability beyond daylight hours and enhance grid flexibility, battery storage is becoming an increasingly important element of utility-scale renewables projects.

Meanwhile, a large order for string inverters signals continued demand for the company’s core solar power conversion products, contributing to manufacturing utilisation across multiple business verticals.

Financial Highlights

The company delivered a robust financial performance in H2 FY26, with revenue surging 142.1 percent from Rs 121 crore in H1 FY26 to Rs 293 crore in H2 FY26. Operating profit nearly tripled from Rs 15 crore to Rs 44 crore, while EBITDA margin expanded by 300 bps from 12 percent to 15 percent, reflecting strong operating leverage. Profit before tax also jumped 215.4 percent from Rs 13 crore to Rs 41 crore.

Bottomline net profit more than tripled from Rs  10 crore in H1 FY26 to Rs  33 crore in H2 FY26. EPS also jumped from Rs  8.79 to Rs  25.12, reflecting strong earnings growth for shareholders. The company has posted a 3-year sales CAGR of 59 percent and profit CAGR of 141 percent, which points to its strong long-term growth trajectory.

From a balance sheet perspective, reserves increased from Rs 53 crore in FY25 to Rs 98 crore in FY26, strengthening the net worth. Total assets expanded from Rs 162 crore to Rs 441 crore, supported by growth in fixed assets from Rs 28 crore to Rs 83 crore, indicating continued capacity expansion. 

However, borrowings rose to Rs 109 crore from Rs 33 crore, increasing the debt-to-equity ratio to 0.99x, while the current ratio of 1.13x provides a cushion for liquidity. The company continued to maintain healthy profitability with ROCE at 38.3 percent and ROE at 45.8 percent.

Insight and Industry Outlook

It is not only the order value of Rs 72.06 crore that is significant. The grid-tied string inverters constitute approximately 53 percent of the order book, with utility-scale central inverters and a Battery Energy Storage System (BESS) order of Rs 19 crore accounting for the rest. This diversified product mix lessens reliance on a single segment and fortifies GP Eco Solutions’ position across the renewable energy value chain.

India’s renewable energy sector continues to witness a spurt in investments in solar power, BESS, advanced inverter technologies and grid modernisation. The order book provides better visibility of revenues across several reporting periods with execution timelines extending to December 2026 and March 2027, setting the company up to benefit from the growing uptake of integrated solar-plus-storage projects.

GP Eco Solutions India Limited is a renewable energy company engaged in the business of manufacturing and distribution of solar power solutions through its subsidiary Invergy India Private Limited. The company sells photovoltaic inverters, battery energy storage systems, engineering solutions and other products that support utility-scale, commercial and industrial solar power projects.

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