Jupiter Solar Power
The Garodia family's original Baddi solar-cell company, sister to Jupiter International, quoted at ₹300 on a 25.8 lakh-share base.
Market cap
₹77.4 Cr
0.26 Cr shares
P/E ratio
27.65
Sector average 35
Book value
₹106.90
P/B 2.81
1-year return
+0.00%
52w ₹300 – ₹300
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹300 → ₹300
52-week band in this window: ₹300.00 – ₹300.00. Weekly indicative marks, not exchange-traded prices.
Key highlights
- India's first commercial solar-cell manufacturer (Baddi, 2006).
- Sister company of Jupiter International, now at ~2 GW cell capacity.
- Paid-up capital ₹2.58 Cr; dealer quote ₹300 values the equity near ₹77 Cr.
About Jupiter Solar
Jupiter Solar Power Ltd (JSPL) was incorporated in Kolkata in July 2006 by the Garodia family's Jupiter group to make crystalline-silicon photovoltaic cells at Baddi, Himachal Pradesh — India's first commercial solar-cell line. Its customers have included Tata Power Solar, Waaree, Webel Solar and BHEL.
The group's solar business has since been scaled through Jupiter International Ltd, which now operates about 2 GW of cell capacity at Baddi (including a 1 GW mono-PERC line commissioned by subsidiary Jupiter Solartech) and has signed an MoU for a 4.2 GW cell and 3.6 GW module plant in Odisha. JSPL is the older, smaller entity in this family — Tofler shows revenue of ₹44 Cr in FY22 and a ₹1–100 Cr range thereafter.
Paid-up capital is ₹2.58 Cr (about 25.8 lakh shares of ₹10) against ₹28 Cr authorised. At the ₹300 wwipl.com quote the equity is valued near ₹77 Cr.
Figures preliminary; verify from MCA filings. Revenue after FY22 and all balance-sheet lines are estimates; confirm which group entity owns which Baddi line before investing.
Where the revenue comes from
- Solar cells85%
Mono-PERC and multi-crystalline cells sold to module makers
- Job-work and other15%
Contract processing and miscellaneous
Products & services
Mono-PERC solar cells
High-efficiency cells for domestic module makers
Multi-crystalline cells
Legacy line serving cost-sensitive modules
What works
- • Part of the Jupiter group, one of India's few integrated solar-cell manufacturers with ALMM-listed capacity.
- • Two-decade track record in cell manufacturing and long-standing module-maker customers.
- • Domestic-content rules (ALMM List-II for cells) favour Indian cell makers from 2026.
What to watch
- • The growth capex sits in Jupiter International and its subsidiaries, not necessarily in JSPL; the shareholder's exposure to the 2 GW expansion is unclear.
- • Cell manufacturing is capital-intensive and exposed to Chinese price competition.
- • Very small float (25.8 lakh shares) — the ₹300 quote has not changed in the periods observed, signalling little trading.
- • All post-FY22 financials on this page are estimates.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Jupiter SolarThis page | ₹300.00 | ₹77.4 Cr | 27.65 | 2.81 | +18.32% |
| Jupiter Solar | ₹225.00 | ₹2,250 Cr | 20.45 | 2.50 | +59.54% |
| Jupiter CCPS | ₹195.00 | ₹292.5 Cr | 17.73 | 2.17 | +59.54% |
Latest reported year: FY25 ending 31 Mar 2025.