Apollo Green Energy Unlisted Share Price Description – Apollo Green Energy (AGEL), originally established as Apollo International in 1994 and headquartered in Gurgaon, has emerged as a frontrunner in India’s renewable energy landscape. Leveraging the Apollo Group’s multi-sector expertise—from tyres and healthcare to logistics, apparel, and footwear—AGEL delivers end-to-end solutions in solar power, wind energy, and energy storage. With a steadfast commitment to India’s sustainability targets, the company is uniquely equipped to spearhead large-scale green energy projects and accelerate the nation’s transition to a cleaner, more resilient power infrastructure.
Here’s a comprehensive review of its unlisted share price, business structure, financials, and IPO prospects, combining data from published annual reports.
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Business Model of Apollo Green Energy
Apollo Green Energy operates an asset-light, execution-focused EPC business model, specializing in turnkey renewable-energy and infrastructure projects. The company’s strategy is centered on engineering excellence, disciplined project execution, and technology-enabled delivery, without heavy balance-sheet asset ownership.
Core Business Activities
Engineering, Procurement & Construction (EPC): Design and execution of utility-scale and rooftop solar projects, including fixed-tilt and tracking systems, as well as floating solar installations. The company also undertakes select hybrid renewable-energy projects based on client requirements.
Project Execution & Management: End-to-end project delivery covering engineering design, procurement coordination, site execution, commissioning, and lifecycle management, with a strong focus on timelines, quality, and cost control.
Process & Infrastructure EPC: Execution of complex process-oriented projects, including Flue Gas Desulfurization (FGD) systems for thermal power plants, strengthening the company’s credentials beyond conventional solar EPC.
Energy Storage & Clean-Energy Integration: Engineering and system integration capabilities for battery energy storage systems (BESS) and green-hydrogen-linked solutions, positioned as emerging growth areas within the renewable-energy ecosystem.
Operations & Maintenance (O&M): Provision of post-commissioning operations, maintenance, and performance-optimization services to support long-term asset reliability and efficiency.
Strategic Positioning
With over two decades of EPC experience, Apollo Green Energy has delivered 400+ MW of solar installations and successfully executed 35+ large-scale projects, including 27+ EXIM-funded international projects. The company operates with a skilled workforce of 200+ professionals and follows robust Quality, Safety, Health, and Environment (QSHE) certified systems.
As of mid-2025, it manages projects worth over INR 3,500 crore, with INR 2,500 crore invested specifically in solar power projects across multiple Indian states. AGEL is targeting an IPO to fuel further growth.
Services of Apollo Green Energy
- Solar EPC Services: Fixed-tilt and tracking solar installations for ground-mounted and rooftop projects.
- Floating Solar Solutions: Design and deployment of floating PV systems on reservoirs and water bodies.
- Green Hydrogen & BESS: Engineering and integration of green‐hydrogen production units and battery energy storage systems.
- EV Infrastructure: Planning and installation of electric-vehicle charging stations and related grid upgrades.
- Supply Chain & Trading: Distribution of solar modules, inverters, batteries, and other renewable‐energy equipment
Product Portfolio of Apollo Green Energy
- Monocrystalline & Polycrystalline Solar Modules
- Bifacial & PERC Modules
- Floating Solar Kits & Platforms
- Energy Storage Systems (Lithium-ion & Flow Batteries)
- Green Hydrogen Electrolyzers
- EV Charging Stations (AC/DC Fast Chargers)
- Customized Hybrid Energy Solutions
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Key Highlights: FY 2024 – 25
- Revenue: Operating revenue declined to INR 806.48 crore in FY25 from INR 1,234.27 crore in FY24, primarily due to divestment of non-core business verticals and strategic refocus on core EPC and renewable businesses.
- Profitability: Despite lower revenue, Standalone PAT increased to INR 34.89 crore in FY25 from INR 29.57 crore in FY24, supported by improved margins, better execution discipline, and cost rationalisation.
- Project Portfolio: More than 400 MW of solar capacity delivered across multiple states; continued execution in utility-scale solar EPC and infrastructure projects, with selective shift toward higher-quality order inflows.
- Process & Infrastructure Projects: Successfully completed the INR 700 crore Flue Gas Desulfurization (FGD) project, delivered six months ahead of schedule, positioning AGEL among a limited set of Indian EPC players with proven FGD execution capability.
- PPA & Developmental Assets: Secured 4 MW solar PPA with Rajasthan DISCOM through a subsidiary; active evaluation of additional PPA-based and developer-owned renewable assets.
- Growth Targets & Scale-up: Targeting 1 GW+ annual EPC execution capability over the medium term, with a focused pipeline in solar EPC, process engineering, and hybrid energy solutions.
- Technology Edge: Strategic adoption of advanced solar modules, along with integration roadmap for Battery Energy Storage Systems (BESS) and green-hydrogen-linked solutions to enhance future project competitiveness.
- Capital Structure: Strengthened balance sheet through preferential equity issuances and expansion of authorised share capital to INR 148 crore, providing headroom for growth and project scale-up.
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Apollo Green Energy Board of Directors
- Mr. Raaja Kanwar, Chairman & Managing Director
- Mr. Sunil Agrawal, Independent Director
- Mr. Ravikant Umakant Mishra, Non-Executive Director
- Mrs. Preeti Chadha – Independent Woman Director
Apollo Green Energy Share Price Details
| Name | Apollo Green Energy Share Price Details |
| Face Value | INR 10 per share |
| ISIN Code | INE838A01015 |
| Lot Size | 100 shares |
| Demat Status | NSDL, CDSL |
| Share Price of Apollo Green Energy | INR 97 per share |
| Market Cap | INR 394 crores |
| Total number of shares | 4,06,10,287 shares |
| Website | www.apollogreenenergy.com |
Apollo Green Energy Unlisted Share – Shareholding Pattern
The details of shareholders’ holding of equity shares:
| Shareholder Name | % to Holding | No. of shares |
| OSK Holdings (AIL) | 14.0 | 57,00,500 |
| AIL Consultants | 7.0 | 28,50,000 |
| Mr. Raaja Kanwar | 16.8 | 68,43,733 |
| RK Eternanova (Formerly Amit Dyechem) | 19.6 | 79,40,812 |
| Others | 42.5 | 1,72,75,242 |
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Apollo Green Energy Unlisted Share Price – Financial Performance
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 810.36 | 753.40 | 1,234.27 | 806.48 |
| Revenue Growth (%) | 14.07 | (7.02) | 63.83 | (34.66) |
| Expenses | 864.26 | 765.19 | 1,228.40 | 700.69 |
| Net income | 41.43 | 24.71 | 38.59 | 33.66 |
| Margin (%) | 5.11 | 3.28 | 3.13 | 4.17 |
| ROCE (%) | – | 12.01 | 13.59 | 8.53 |
| EBITDA Margin (%) | 7.28 | 2.92 | 5.95 | 5.77 |
| Debt/Equity | 0.80 | 0.77 | 0.90 | 0.83 |
| EPS | 22.0 | 13.0 | 20.0 | 5 |
Apollo Green Energy Annual Reports
Apollo Green Energy Unlisted Share – Peer Comparison
| Company | 3-yr Sales CAGR (%) | PE Ratio | ROCE (%) | Net Margin (%) | MCap (Cr.) |
| Apollo Green Energy | NA | 19.4 | 8.53 | 4.17 | 394.0 |
| Zodiac Energy | 41.8 | 19 | 20.0 | 4.90 | 391.0 |
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Apollo Green Energy Unlisted Share Price FAQs
Is it safe to purchase unlisted shares in India?
While there are risks associated with unlisted shares, purchases made from credible brokers and after conducting due diligence considerably lower these risks.
What is the Apollo Green Energy unlisted share price?
Apollo Green Energy share price today is INR 97 per share. Shares are purchased in lots of 100 shares.
Who determines the Apollo Green Energy unlisted share price?
Apollo Green share price is determined by various factors including recent transaction price, supply and demand, valuation in the latest funding round, profitability, and return ratios.
When is the Apollo Green Energy IPO planned?
Apollo Green Energy plans to launch its IPO by 2026.