Subscribe for GK Energy Ltd IPO; Geojit Financial Services

Geojit Financial Services, has come out with its report on GK Energy Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on September 19, 2025.

Broker Research

September 19, 2025 / 14:42 IST

IPO

Geojit Financial Services, GK Energy Ltd

GK Energy Ltd. (GEL) is India’s leading pure-play engineering, procurement and commissioning (EPC) provider for solar-powered agricultural water pump systems. The company offers end-to-end solutions, covering survey, design, supply, installation, commissioning, and maintenance. GEL also undertakes rooftop solar and water infrastructure projects under the Jal Jeevan Mission and supplies solar products to government agencies. The domestic market for solar-powered pump systems grew at a CAGR of 15%, rising from ₹19.3 billion in FY19 to around ₹39 billion in FY24, and is projected to reach ₹300–320 billion by FY29 (Source: CRISIL Report). GEL’s revenue, EBITDA, and PAT grew at a CAGR of 96%, 240.9%, and 263.5% respectively between FY23 and FY25, reaching ₹1,094.8cr, ₹199.7cr, and ₹133.2cr, supported by government-backed solar projects, efficient execution, and geographic expansion.

Valuation and Outlook

With strong execution capabilities and government-backed demand, GK Energy is poised for sustained growth. Therefore, we recommend a SUBSCRIBE rating for investors with a medium- to long-term horizon.

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