1. At a Glance
A ₹666 Cr EV battery + motor company with a powerful 3-year CAGR of 53% in profits and 22% in sales. ROCE? 30%. ROE? 24%. Debtor days rising? Absolutely. Cash flow? Crying. But the order book? Glowing like a fully charged lithium-ion pack.
2. Introduction with Hook
Imagine if Tesla outsourced its battery unit to an SME in India that’s barely five years old, but already flirting with ₹220 Cr in annual revenue. That’s CLN Energy—born in 2019, now supplying lithium-ion battery packs from 2 KWh scooters to 500 KWh solar stations. One day it’s shipping motors for EVs, next day it’s bidding BSNL contracts. You can’t pin this battery down.
- ₹107.91 Cr BSNL battery order
- ROCE of 30.5%
- 3-year ROE average: 33.1%
- EPS = ₹12.24 | P/E = 51.6x
Clearly, the voltage is real—but is it safe to touch?
3. Business Model (WTF Do They Even Do?)
CLN Energy Ltd is a full-stack B2B EV and energy solution company. It doesn’t sell you the EV; it builds the entire inside of it.
Product Verticals:
- Manufactured Goods: Lithium-ion battery packs, electric motors, EV controllers, onboard chargers.
- Traded Goods: Battery Management Systems (BMS), wiring harnesses, control units.
- Services: Customised battery prototypes, EV powertrain design consulting.
