Urja Global Limited (NSE: URJA | BSE: 526987)
Source: Urja Global Limited Annual Report FY 2025-26 (Fiscal Year Ended March 31, 2026)
📋 Quick Facts: Company Snapshot
| Attribute | Disclosed Detail |
|---|---|
| Official Company Name | Urja Global Limited |
| Corporate Identity Number (CIN) | L67120DL1992PLC048983 |
| ISIN | INE732C01020 |
| NSE Symbol & BSE Scrip Code | URJA | 526987 |
| Date of Incorporation / Founding Year | May 29, 1992 |
| Founders / Key Founding Figures | Mohan Jagdish Agarwal, Yogesh Kumar Goyal |
| Registered Office & Corporate Headquarters | 487/63, 1st Floor, National Market, Peeragarhi, New Delhi, India, 110087 |
| Telephone & Investor Relations Contact | +91-011-25279143 / info@urjaglobal.in |
| Chairman / Managing Director & CEO | Mr. Gopalsetty Prasad Rao (Chairman), Mr. Mohan Jagdish Agarwal (Managing Director), Mr. Amitav Rao (CEO) |
| Chief Financial Officer (CFO) & Company Secretary (CS) | Mr. Vijay Kumar Singhal (CFO), Ms. Mikita Gupta (CS) |
| Promoter & Holding Group | Nandavan Commercials Private Limited |
| Industry / Sector Classification | Renewable Energy Developers and Operators / Electric Mobility / Solar Solutions |
| Total Employees / Workforce (BRSR) | 45 Permanent Employees (39 Male, 6 Female) |
| Manufacturing Plants / Branches / Offices Count | 3 Manufacturing Plants, 4 Offices |
| Countries / States Served | India (National Operations across multiple states) |
| Statutory Auditors | M/s Uttam Abuwala Ghosh & Associates, Chartered Accountants |
| Registrar and Share Transfer Agent (RTA) | M/s Alankit Assignments Limited |
🏢 The Corporate Identity: Urja Global Limited Overview, Promoters & History
The Big Picture: Business Model & Core Value Proposition
Urja Global Limited operates as an integrated renewable energy company engaged in the design, consultancy, integration, supply, installation, commissioning, and maintenance of off-grid and grid-connected solar power plants and decentralized solar applications. The company’s core business model spans across renewable energy solutions, energy storage systems, battery manufacturing, and electric mobility products, contributing directly to India’s clean energy transition.
The company leverages a dual distribution approach, combining established dealer-distributor networks with direct online platform engagements. By delivering affordable and sustainable power solutions under its overarching mission, Urja Global targets residential, commercial, industrial, and agricultural segments across India.
The Founders, Promoters & Their Legacy
The company is guided by experienced executive leadership and promoter entities, prominently including Nandavan Commercials Private Limited as the primary promoter corporate body. Key operational direction is steered by Managing Director Mr. Mohan Jagdish Agarwal and Whole-Time Director Mr. Yogesh Kumar Goyal, who have directed the enterprise through its strategic pivot toward electric mobility and advanced solar and storage technologies.
The Journey: Corporate History & Key Milestones
Incorporated in May 1992 as a public limited entity under the Companies Act, Urja Global has progressively evolved from its foundational operations into a specialized renewable energy and electric vehicle enterprise. Over its 34-year corporate history, the company has established material subsidiaries in battery manufacturing, real estate development, and digital technologies, creating an integrated corporate framework supporting its long-term strategic objectives.
The Corporate Umbrella & Group Structure
Urja Global Limited operates alongside three dedicated subsidiaries: Urja Batteries Limited, specializing in lead-acid and industrial energy storage; Sahu Minerals & Properties Limited, focused on land and real estate asset development; and Urja Digital World Limited, structured for online digital business operations across e-mobility and education.
⚙️ The Business Engine: Segments, Brands, Products & Operations
The Core Divisions & Segment Revenue Breakdown
| Business Segment / Activity | Segment Revenue (₹ in Crores) FY 2025-26 | % Share of Total Revenue |
|---|---|---|
| Electric Vehicles & Related Operations | 4,984.26 | 74.72% |
| Renewable Energy Products & Systems | 14.67 | 21.98% |
| Batteries & Job Work Services | 2.19 | 3.28% |
The Product & Service Catalog (with Operational KPIs & Order Book)
The company’s product portfolio addresses multiple decentralized energy and clean transport verticals. Offerings include solar study lamps, LED lanterns, solar panels, solar inverters, solar home lighting systems, Urja Solar Atta Chakkis, solar water pumps, and comprehensive rooftop solar solutions.
In the energy storage and mobility sectors, the company manufactures and distributes lithium-ion batteries, automotive batteries, inverter batteries, solar batteries, e-rickshaw batteries, electric two-wheelers, and electric three-wheelers, operating under robust quality standards.
The Names You Know: Key Brands & Flagship Portfolio
| Brand / Product Name | Category / Business Segment | Target Market & Key Positioning |
|---|---|---|
| Urja | Solar Systems & Renewable Energy | Rural and urban households seeking decentralized clean energy and solar home lighting. |
| I-Volt | Rechargeable Batteries & Storage | Automotive, solar, and industrial backup power applications requiring dependable energy storage. |
| Urja Kendra | Retail & Service Centers | District-level customer touchpoints providing solar, e-mobility, and digital connectivity solutions. |
Mapping the Domestic & Global Reach (India vs. Exports)
| Market Region | Revenue Contribution (₹ in Crores) FY 2025-26 | % Share of Total Revenue |
|---|---|---|
| Domestic Operations (India) | 6,670.07 | 100.00% |
| International Exports | 0.00 | 0.00% |
The Brick & Mortar Footprint: Manufacturing Plants, R&D & Offices
The company maintains its registered corporate office in New Delhi alongside manufacturing and assembly operations across northern and western India. Key production units include the Bahadurgarh manufacturing plant in Haryana (HSIIDC), the Nashik plant in Maharashtra, and warehousing facilities in Sampla, Haryana.
📊 The Financial Health: The Numbers Simplified
Multi-Year Financial Highlights (₹ in Crores)
| Financial Metric (₹ in Crores) | FY 2025-26 | FY 2024-25 | Latest YoY (%) |
|---|---|---|---|
| Total Consolidated Revenue | 67.59 | 68.49 | -1.31% |
| Consolidated Operating EBITDA / Profit before Tax | 1.99 | 2.03 | -1.97% |
| Consolidated Profit After Tax (PAT) | 1.35 | 1.38 | -2.17% |
| Total Equity / Net Worth | 191.04 | 189.60 | +0.76% |
Earnings, Expenses, & Take-Home Profits (Consolidated Profit & Loss)
| Consolidated Statement of Profit and Loss (₹ in Crores) | FY 2025-26 | FY 2024-25 | Latest YoY (%) |
|---|---|---|---|
| Revenue from operations | 66.70 | 67.25 | -0.82% |
| Other income | 0.89 | 1.24 | -28.23% |
| Total Income | 67.59 | 68.49 | -1.31% |
| Purchase of material | 54.42 | 54.60 | -0.33% |
| Changes in inventories of finished goods, work-in-progress and Stock-in-trade | 0.07 | (1.39) | N/M |
| Employee benefit expense | 4.39 | 4.48 | -2.01% |
| Finance costs | 0.54 | 0.62 | -12.90% |
| Depreciation expense | 0.49 | 0.38 | +28.95% |
| Other expenses | 5.69 | 7.77 | -26.77% |
| Total expenses | 65.60 | 66.46 | -1.29% |
| Profit before tax expenses | 1.99 | 2.03 | -1.97% |
| Tax expenses | 0.64 | 0.65 | -1.54% |
| Profit for the year | 1.35 | 1.38 | -2.17% |
Assets, Borrowings, & Net Worth (Consolidated Balance Sheet)
| Consolidated Balance Sheet (₹ in Crores) | As at March 31, 2026 | As at March 31, 2025 | Latest YoY (%) |
|---|---|---|---|
| Non-Current Assets | |||
| Property, Plant and equipments | 60.66 | 83.58 | -27.42% |
| Goodwill | 43.74 | 43.74 | 0.00% |
| Investments | 0.70 | 0.70 | 0.00% |
| Trade receivables | 30.58 | 64.79 | -52.80% |
| Other financial assets | 17.09 | 15.84 | +7.89% |
| Deferred tax assets (net) | 0.01 | 0.01 | 0.00% |
| Other non-current assets | 0.08 | 0.02 | +300.00% |
| Current Assets | |||
| Inventories | 40.51 | 40.57 | -0.15% |
| Trade receivables | 16.59 | 22.77 | -27.14% |
| Cash and cash equivalents | 0.73 | 3.49 | -79.08% |
| Other financial assets | 22.96 | 7.84 | +192.86% |
| Other current assets | 14.36 | 7.65 | +87.71% |
| TOTAL ASSETS | 248.01 | 291.00 | -14.77% |
| Equity and Liabilities | |||
| Equity share capital | 53.39 | 53.39 | 0.00% |
| Other equity | 123.28 | 121.86 | +1.17% |
| Non controlling interest | 14.37 | 14.36 | +0.07% |
| Total Equity | 191.04 | 189.60 | +0.76% |
| Non-Current Borrowings | 5.71 | 5.39 | +5.94% |
| Non-Current Trade payables | 0.06 | 38.58 | -99.84% |
| Current Borrowings | 3.52 | 2.90 | +21.38% |
| Current Trade payables | 7.21 | 6.77 | +6.50% |
| Other current financial liabilities | 38.07 | 43.69 | -12.86% |
| Other current liabilities | 2.41 | 4.07 | -40.79% |
| TOTAL EQUITY AND LIABILITIES | 248.01 | 291.00 | -14.77% |
Cash Flow: Tracking the Money Movement
| Consolidated Cash Flow Statement (₹ in Crores) | FY 2025-26 | FY 2024-25 | Latest YoY (%) |
|---|---|---|---|
| Net cash generated from / (used in) operating activities (A) | (26.12) | (6.51) | +301.23% |
| Net cash from / (used in) investing activities (B) | 23.09 | 6.35 | +263.62% |
| Net cash used in financing activities (C) | 0.27 | 2.41 | -88.80% |
| Net increase / (decrease) in cash and cash equivalents (A + B + C) | (2.75) | 2.25 | N/M |
| Cash and cash equivalents at beginning of the year | 3.49 | 1.24 | +181.45% |
| Cash and cash equivalents as at end of the year | 0.73 | 3.49 | -79.08% |
Funding the Future: CapEx, CWIP & R&D Spending
Capital work-in-progress stood at ₹0.56 Crores as of March 31, 2026, reflecting ongoing capital investments in production infrastructure and electric vehicle manufacturing facilities. The company continues to direct capital allocation toward expanding operational capacity while maintaining disciplined liquidity management.
👥 Power & Control: Corporate Governance, Leadership & Ownership
The Brain Trust: Board of Directors & Key Managerial Personnel (KMP)
| Name of Director / KMP | Designation / Role | DIN | Category |
|---|---|---|---|
| Mr. Mohan Jagdish Agarwal | Managing Director | 07627568 | Executive Director |
| Mr. Yogesh Kumar Goyal | Whole-Time Director | 01644763 | Executive Director |
| Dr. Gajanand Gupta | Non-Executive Director | 01819397 | Non-Executive Non-Independent |
| Ms. Mita Sinha | Independent Director | 08067460 | Non-Executive Independent |
| Dr. Mukul Jain | Independent Director | 07187651 | Non-Executive Independent |
| Mr. Gopalsetty Prasad Rao | Chairman & Independent Director | 07119450 | Non-Executive Independent |
| Ms. Saumya Srivastava | Independent Director | 08206547 | Non-Executive Independent |
Who Owns the Stock? Shareholding Pattern
| Category of Shareholder | Number of Shares held | % of Total Shareholding (%) |
|---|---|---|
| Promoter and Promoter Group (Bodies Corporate) | 10,22,60,528 | 18.35% |
| Foreign Portfolio Investors | 5,71,559 | 0.10% |
| Central / State Government(s) | 22,400 | 0.01% |
| Corporate Bodies | 28,46,154 | 0.51% |
| Individual Shareholders (Public) | 43,40,87,037 | 77.91% |
| NRIs | 97,02,632 | 1.74% |
| Others (Non-Promoter and Non-Public) | 77,15,690 | 1.38% |
| Total | 55,72,06,000 | 100.00% |
🗺️ The Corporate Family Tree: Group Structure & Strategic Investments
Subsidiaries, Associates, & Joint Ventures (Form AOC-1)
| Entity Name | Relationship | Country | % Shareholding | Turnover (₹ in Crores) | Profit / (Loss) After Tax (₹ in Crores) |
|---|---|---|---|---|---|
| Urja Batteries Limited | Subsidiary | India | 54.32% | 4.95 | 0.10 |
| Sahu Minerals & Properties Limited | Subsidiary | India | 78.51% | 0.00 | 0.03 |
| Urja Digital World Limited | Subsidiary | India | 94.00% | 14.28 | (0.70) |
Strategic Investments & Treasury Holdings
The company maintains long-term unquoted investments in its operating subsidiaries alongside strategic trade advances, ensuring aligned operational integration across battery production, real estate asset utilization, and digital e-mobility services.
🎯 The Strategic Outlook: Competitive Moats, Risks & Future Growth Plans
Competitive Advantages & Economic Moats
Urja Global holds established accreditations as a renewable energy channel partner, positioning it favorably within India’s growing solar and electric vehicle sectors. The company’s integrated portfolio covering solar installations, energy storage batteries, and e-mobility products provides diversified revenue streams across industrial and retail markets.
What Could Go Wrong? Key Challenges & Business Risks
The company faces intense competition in the renewable energy and electric vehicle segments from domestic and international market participants. Dependence on imported raw materials and components exposes operations to global supply chain volatility and currency fluctuations, while evolving regulatory frameworks and policy shifts present ongoing compliance considerations.
The Next Chapter: Growth, Order Pipeline & CapEx Initiatives
Future growth initiatives center around expanding the electric vehicle product line, scaling lithium-ion battery storage applications, and leveraging government clean energy schemes such as PM-KUSUM and rooftop solar promotion programs. Ongoing capital deployment in manufacturing infrastructure is intended to support increased production efficiency and market reach.
The Verdict: Strategic Outlook & Conclusion
Urja Global Limited remains well-positioned to participate in India’s transition toward clean energy and sustainable transportation. Supported by established brand recognition, supportive government policies, and an integrated product ecosystem, the company continues to focus on operational discipline and long-term stakeholder value creation.
Note: Financial ratios, margins, YoY growth percentages, and % revenue shares are calculated by IndianCompanies.in based on disclosed Ind AS financial statements.
Official Site: https://www.urjaglobal.in