Apollo Green Energy Ltd
- Unlisted share
- Energy & Power
- ISIN INE838A01015
At a glance
Income
FY24
₹1,148 Cr
+75.7%on FY23What the company earned in the year, before its costs.
Profit
FY24
₹29.57 Cr
−1.6%on FY23What was left after every cost and tax was paid.
Net worth
FY24
₹342 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- Apollo Green Energy Ltd
- ISIN
- INE838A01015
- Sector
- Energy & Power
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹60.82
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About Apollo Green Energy Ltd
Apollo Green Energy is an engineering, procurement and construction (EPC) contractor that now concentrates on renewable energy projects such as utility-scale solar, wind, hybrid systems, energy storage and green hydrogen infrastructure. It was set up in 1994 as Apollo International Limited, the export arm of Apollo Tyres, and later added leather goods, trading and construction businesses; rating agencies describe it as promoted by Mr. Raaja Kanwar and part of the Apollo group. Its credit rating was cut to default grade in October 2025 after delays in servicing debt were reported, and the rating agency says the company has stopped sharing information with it.
Written from: apollo-greenenergy.com, apollo-greenenergy.com, infomericstorage.blob.core.windows.net, infomericstorage.blob.core.windows.net, infomericstorage.blob.core.windows.net
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Energy & Power
- ISIN
- INE838A01015
- Year of incorporation
- 1994
- Promoter
- Promoted by Mr. Raaja Kanwar
- Official website
- apollo-greenenergy.com
Read from: CRISIL Ratings rating rationale, 30 April 2024, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Return on equitycalculated
8.6%
For every ₹100 of the owners' money, the company made ₹8.6 of profit in the year.
Debt to equitycalculated
0.98×
The company has borrowed ₹0.98 for every ₹1 of its owners' money.
- Indicative price
- ₹60.82
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2023-24. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
Apollo Green Energy Limited (formerly Apollo International Limited). As published in the company's audited reports. GrowFast has not audited them.
Income, year by year
₹ crore. The darkest bar is the latest year.
FY22 to FY24: ₹315 Cr to ₹1,148 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY22 to FY24: ₹23 Cr to ₹29.57 Cr.
| Particulars | FY22 | FY23 | FY24Latest |
|---|---|---|---|
| Total operating income (as tabulated by rating agency) | 314.82 | 653.81 | 1,148.48▲76% |
| EBITDA (as tabulated by rating agency) | 38.99 | 36.74 | 69.68▲90% |
| Profit after tax | 23 | 30.06 | 29.57▼2% |
Rupees crore unless marked, standalone. The change shown is the latest year against the year before. Read from: Infomerics Ratings press release, 10 January 2024, Infomerics Ratings press release, 7 January 2025.
Credit rating. IVR D; Issuer Not Cooperating (default grade), reaffirmed by Infomerics Ratings on bank loan facilities of Rs 322.83 crore and non-convertible debentures of Rs 100 crore (including proposed) (16 September 2026) Infomerics Ratings press release, 16 September 2026
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised |
|---|---|---|---|---|
| FY2022-23Infomerics records a further Rs 16.20 crore put in by the promoters in FY2023 through preference shares. | Preference share issue to promoters | 0.01% optionally convertible redeemable preference shares and 0.01% redeemable preference shares | Not stated | ₹16 Cr |
| FY2021-22Infomerics records that the promoters put in Rs 44.48 crore in FY2022 through preference shares, part of Rs 80.76 crore infused over FY2021 to FY2023. | Preference share issue to promoters | 0.01% optionally convertible redeemable preference shares and 0.01% redeemable preference shares | Not stated | ₹44 Cr |
Read from: Infomerics Ratings press release, 10 January 2024
Corporate calendar
Events
- 16 Sept 2026Rating actionInfomerics reaffirmed IVR D (default grade) and kept the company in the Issuer Not Cooperating categoryOpen
- 17 Dec 2025Rating agency disclosureInfomerics said it had received no confirmation that interest due 1 December and principal due 15 December 2025 on an NCD (ISIN INE838A07087) were paidOpen
- 3 Oct 2025Rating actionInfomerics downgraded bank facilities and NCDs from IVR C to IVR D, citing public information that the company had delayed servicing its debtOpen
- 18 Sept 2025Rating actionInfomerics downgraded the long-term rating from IVR BB+ to IVR C with a negative outlook (issuer not cooperating)Open
- 3 Jul 2025Rating actionInfomerics downgraded the long-term rating from IVR BBB+ to IVR BB+ with a negative outlook (issuer not cooperating)Open
- 7 Jan 2025Rating actionInfomerics moved its ratings to the Issuer Not Cooperating category with a negative outlookOpen
- 30 Apr 2024Rating actionCRISIL reaffirmed BBB/Stable and A3+ on bank loan facilitiesOpen
- 10 Jan 2024Rating actionInfomerics assigned IVR BBB+/Stable and IVR A3+ to bank facilities and NCDs totalling Rs 422.83 croreOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
- FY2026-27Infomerics press release dated 16 September 2026 (IVR D reaffirmed)
- FY2025-26Infomerics update dated 17 December 2025 (NCD payment status not confirmed)
- FY2025-26Infomerics press release dated 3 October 2025 (downgrade to IVR D)
- FY2023-24CRISIL rating rationale dated 30 April 2024
- FY2023-24Infomerics press release dated 7 January 2025
- FY2022-23Infomerics press release dated 10 January 2024 (initial rating, with FY2022 and FY2023 figures)
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about Apollo Green Energy Ltd on WhatsAppIs the price shown for Apollo Green Energy Ltd final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my Apollo Green Energy Ltd shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell Apollo Green Energy Ltd shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Similar stocks
More in Energy & Power
Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by Apollo Green Energy Ltd. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.