🟢 1. At a Glance
Prostarm Info Systems started off as a UPS and battery installer, but it’s now morphing into a manufacturing play in energy storage and solar EPC. Solid profit growth, 30% ROE, and ₹1,258 Cr market cap — but with GST show cause notices, working capital stress, and debtor days stuck above 110. Plus, a 1.2 GWh battery plant in Jhajjar? We’ll believe it when we see it.
🎬 2. Introduction with Hook
Welcome to the SME space where:
- You start with inverter sales,
- add solar buzzwords,
- throw in a “1.2 GWh battery storage plant”
- and then quietly receive not one, but two GST show-cause notices 💸
Prostarm is the kind of stock that investors fall for when they hear “energy storage,” but forget to check if the receivables are even coming home.
🔌 3. Business Model – WTF Do They Even Do?
Started as a UPS installer. Now a full-stack power equipment SME.
- 🔋 Core Biz: Power Conditioning Equipment — UPS systems, energy storage (batteries), stabilizers
- ☀️ Diversified into Solar EPC – Rooftop PV installs since 2018
- 🏭 Manufacturing Shift: Now designs and assembles under own brand
- ⚡ Upcoming: ₹25 Cr capex to build a 1.2 GWh BESS (Battery Energy Storage System) facility in Jhajjar, Haryana by FY26
- 🔧 Clients: Enterprises, infra, solar integrators
- 🏷️ Products: Mostly branded industrial energy gear
Basically: The Havells dream, in SME avatar — with
