Epic Energy Limited is an integrated energy platform and a Bureau of Energy Efficiency (BEE) recognized **Energy Service Company (ESCO)**. Headquartered in **Mumbai**, the company has transitioned from a traditional energy service provider into a diversified clean-energy powerhouse. Its operations span the entire value chain—from project development and technical execution to long-term asset management—within the renewable energy, electric mobility, and circular economy sectors. --- ### **Strategic Pivot: The Integrated Clean-Energy Platform** Epic Energy is currently executing a multi-year transition to scale its renewable generation capacity and establish a national footprint in battery lifecycle management. The company’s strategy is anchored by three primary growth pillars: 1. **Solar Power Generation & EPC:** Targeting a total installed capacity of **100 MW (140 MWp)** by **FY 2027**, focusing on **Ground-Mounted Solar Parks** and **Group Captive Open Access** models for blue-chip corporate clients. 2. **Electric Mobility Infrastructure:** Establishing a robust manufacturing and software ecosystem for EV charging. 3. **Circular Economy & Battery Recycling:** Developing indigenous capabilities to recover **Rare Earth Elements** and repurpose lithium-ion batteries. --- ### **Core Business Verticals and Product Ecosystem** The company’s operations are categorized into two primary reportable segments: **Renewable Energy & Energy Saving Appliances** and **Power Conditioners & Savers**. #### **1. Solar Energy & EPC Services** Epic Energy provides end-to-end solutions for rooftop and utility-scale solar projects. * **Rooftop Solar:** Projects ranging from residential units to **200+ kW** institutional installations. * **Solar Parks:** Development of the **Solapur Green Park** (**35 MWp**) to support corporate ESG goals through Open Access systems. * **Technology Integration:** Implementation of **AI-based fault detection**, drone inspections, and predictive O&M tools for real-time energy intelligence. #### **2. Electric Vehicle (EV) Infrastructure** Operating through **Epic EV Chargers Pvt Ltd** (a **76%** subsidiary), the company manufactures AC and DC chargers under the **RapidEVChargE** brand. * **Manufacturing:** A dedicated plant in **Coimbatore** with an annual capacity of **15,000 chargers**. * **Product Range:** Chargers from **3.3 kWh to 60 kWh**. * **Digital Ecosystem:** Proprietary **Firmware** and the **"RapidEchargE" Mobile App** for slot booking and payments. #### **3. Energy Efficiency & Power Management** As an ESCO, the company provides industrial-grade tools to optimize power consumption: * **Products:** **APFC Panels**, Power Savers, **LED Retrofitting**, and Automatic Light Controllers. * **Smart Tech:** **IoT-based** equipment and **Remote Energy Management Software** for real-time monitoring. * **Industrial Lighting:** **LED Luminaires** designed for high thermal tolerance in hazardous environments. #### **4. Battery Recycling & Second-Life Solutions** Through **Swachchha Urja Nirman LLP (SUN LLP)**, the company is addressing the "Atmanirbhar Bharat" mission by reducing geopolitical dependency on battery materials. * **Technology:** A **10-year license** from **C-MET** (Govt. of India) for hydro-metallurgical recycling. * **Facilities:** A battery shredding plant in **Wada, Maharashtra** with a capacity of **500 kg/hour** (Black Mass) and a second-life assembly unit targeting **10 MWh per month**. --- ### **Corporate Structure and Strategic Alliances** Epic Energy leverages a network of subsidiaries and joint ventures to execute specialized projects: | Entity | Stake | Focus Area | | :--- | :---: | :--- | | **Epic EV Chargers Pvt Ltd** | **76%** | EV Charger manufacturing and software. | | **Swachchha Urja Nirman LLP** | **60%** | Battery recycling and second-life assembly. | | **Epic Renewable Projects Pvt Ltd** | **100%** | Renewable energy project execution. | | **Solapur Green Park Pvt Ltd** | **100%** | Solar Park development for Group Captive models. | **Key Partners:** * **Soleos Energy Private Limited:** Strategic investor (set to hold **18.16%** post-conversion) providing engineering scale. * **Niva Ecotech Pvt Ltd:** Partner for the Solapur Solar Park development. * **EnviroEn Inc. (Canada):** International affiliation for technical expertise. --- ### **Financial Performance and Capital Structure** The company has achieved a significant financial turnaround, moving from losses in FY23 to robust profitability in FY25. #### **Comparative Financial Summary** | Metric (INR in Crore) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Turnover** | **4.27** | **3.09** | **1.17** | | **Net Profit After Tax (PAT)** | **1.29** | **0.36** | **(0.43)** | | **Net Profit Ratio (%)** | **30.60%** | **11.70%** | **-** | | **Earnings Per Share (INR)** | **1.81** | **0.50** | **(0.60)** | | **Net Worth** | **8.06** | **6.74** | **-** | #### **Capital Augmentation** To fund its **₹250 Crore** authorized borrowing limit and large-scale infrastructure: * **Fundraising:** Allotted **38,00,000 Convertible Warrants** at **₹50 per warrant**, totaling **₹19 Crores**. * **Debt Status:** Currently maintains a **Debt-Free** status, providing a clean balance sheet for future leverage. * **Liquidity:** The Board has opted to **not recommend a dividend** for FY 2024-25 to reinvest cash flows into expansion. --- ### **Operational Footprint and Project Pipeline** | Project / Facility | Location | Capacity / Status | | :--- | :--- | :--- | | **EV Charger Plant** | Coimbatore, TN | **15,000 units p.a.**; Operational as of Feb 2025. | | **Solar Park** | Solapur, MH | **35 MWp (25 MW)**; Under Development. | | **DREBP Solar Project** | Kutch, Gujarat | **2.70 MWh**; Regulatory Approval Received. | | **Battery Shredding** | Wada, MH | **500 kg/hour**; Commissioning Phase. | | **Second-Life Assembly** | Wada, MH | **10 MWh per month**; Commissioning Phase. | --- ### **Risk Profile and Mitigation Strategies** #### **1. Operational & Market Risks** * **Customer Concentration:** The largest customer accounts for **27%** of revenue. The company is actively diversifying into the C&I and residential rooftop segments to mitigate this. * **Technology Obsolescence:** Rapid changes in energy-saving tech are managed through **ISO 9001:2015** standards and a dedicated R&D team. * **Supply Chain:** Vulnerability to **Silicon** shortages and PV panel price volatility is a constant factor in Solar EPC margins. #### **2. Legal and Financial Contingencies** * **Godhra Nagarpalika Arbitration:** A claim of **₹7.04 crore** (including **₹2.98 crore** in unbilled revenue) is currently in arbitration. The company has prudently recognized an **Expected Credit Loss (ECL)** provision of **₹77.43 Lakhs** (10% discount) against this. * **Regulatory Compliance:** An outstanding **₹6.64 Lakhs** in unpaid dividends from 2011-12 is pending transfer to the **IEPF**. #### **3. Macro-Environmental Factors** * **Regulatory Dependency:** Growth is tied to **ISTS waivers**, **RPO (Renewable Purchase Obligation)** trajectories, and state-specific **DISCOM** approvals. * **Sectoral Gap:** While India targets **140 GW of wind energy by 2030**, domestic installation rates currently lag behind manufacturing capacity, creating a competitive environment for energy service providers.