Onix Renewable Limited Unlisted Share: Company History
Article By : Bharat Invest
India's renewable energy sector is expanding quite rapidly as the country works toward increasing clean energy capacity and reducing dependence on fossil fuels. Government initiatives, corporate sustainability goals as well as growing demand for solar and wind power have created opportunities for those companies that are operating in this space. One company that has gained attention in recent years is Onix Renewable Limited.
From its beginnings as an EPC-focused business, Onix Renewable has evolved into an integrated renewable energy company with operations across solar power, wind energy, hybrid projects, battery energy storage systems (BESS), manufacturing, and green hydrogen initiatives as well. And because the company is currently unlisted, many investors are also tracking Onix Renewable Limited Unlisted Share as part of the growing pre-IPO market.
The Journey of Onix Renewable Limited
Onix Renewable was incorporated in the year 2014 in Gujarat and initially focused on engineering, procurement, and construction (EPC) services for solar power projects. As demand for renewable energy increased across India, the company expanded beyond EPC execution into project development, manufacturing, operations and maintenance (O&M), and independent power production (IPP). The company then later converted into a public limited company in 2023 while remaining unlisted.
Over the years, the company has completed renewable energy projects across multiple Indian states as well as built expertise in delivering turnkey clean-energy solutions for industrial, commercial, and also government clients.
What Does Onix Renewable Do?
Different than companies that operate in only one renewable energy segment, Onix Renewable has developed an integrated business model covering several parts of the clean energy value chain.
Its operations include:
- Utility-scale solar power projects
- Rooftop solar installations
- Wind energy projects
- Hybrid renewable energy systems
- Battery Energy Storage Systems (BESS)
- Green hydrogen and green ammonia initiatives
- Solar PV module manufacturing
- Operations and maintenance (O&M) services
- Independent Power Producer (IPP) projects
Major Business Segments
- Solar EPC Projects: Solar EPC is still one of the company's main lines of business. Onix Renewable designs, procures, builds and commissions solar power plants for commercial, industrial and government customers.
- Wind & Hybrid Projects: The company also develops wind and hybrid renewable projects that combine different clean energy sources to improve power generation efficiency.
- Battery Energy Storage: Battery Energy Storage Systems (BESS) help store renewable electricity for use when solar or wind generation is low. This segment is becoming more significant as the capacity of renewable energy sources rises.
- Green Hydrogen: Green hydrogen is considered one of the fastest-growing clean energy opportunities. Onix Renewable announced initiatives in this area as part of its long-term expansion.
Projects and Market Presence
According to the company, Onix Renewable has much successfully delivered more than 500 MW of renewable energy projects across India. Its project portfolio includes rooftop solar systems, utility-scale solar plants, hybrid energy solutions, and infrastructure developed under government programmes such as PM-KUSUM in Gujarat.
The company serves clients from industries including manufacturing, infrastructure, commercial real estate, and public-sector organisations.
Financial Growth
In recent years, Onix Renewable has shown excellent business growth. The company's publicly available data shows growth in revenue, profitability and net worth due to the expansion of its renewable energy operations. Moreover, independent Company databases also reflect positive improvement in EBITDA and book net worth over the previous years.
It is advised to all investors to review the latest audited financial statements and regulatory filings before making investment related decisions.
Why Are Investors Watching Onix Renewable Unlisted Shares?
Interest in Onix Renewable's unlisted shares has increased because of several factors such as:
- Fast growth of the renewable energy industry in India
- Expansion into solar manufacturing
- Diversity of business model including EPC, IPP and energy storage
- Entry into green hydrogen projects
- Increase in government support for the sector
Future Growth Opportunities
India desires to boost its renewable energy capacity over the next decade, which offers various opportunities for companies that operate in the solar energy segment, wind energy segment, battery storage segment, or in the green hydrogen.
Onix Renewable plans to strengthen its position by:
- Expanding solar PV manufacturing capacity
- Increasing renewable power production assets
- Developing large-scale hybrid energy projects
- Growing its green hydrogen business
- Investing in research, technology, and automation
- Expanding its EPC and O&M services across India
Onix Renewable Limited Unlisted Shares
Onix Renewable Limited is not listed on NSE or BSE, so its equity shares are traded through the over-the-counter (OTC) unlisted market. The value of its unlisted shares is mainly determined by business performance, order book, profitability, investor demand and overall market sentiment and not by exchange based trading. Indicative OTC prices that are reported by market platforms are not official exchange prices.
Conclusion
Onix Renewable Limited started by being a solar EPC company and became an integrated renewable energy business with expertise in solar energy, wind energy, battery storage, manufacturing, and green hydrogen. The company has adopted a diversified business model with an expanding project portfolio and has focused on clean energy technologies which helped it establish itself as a rising player in India’s renewable industry.
Investors who are interested in Onix Renewable Limited Unlisted Shares should focus more on the company’s operational growth, financial performance, expansion plans, and industry outlook than solely focusing on the company’s shares’ prices. A well-researched investment decision should be made based on an indepth analysis of the company’s finances and an understanding of the risks regarding the unlisted shares.