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Empower India Ltd

EMPOWER

NSE

₹1.64-4.65%19 Oct 2026

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Trading

Empower India Ltd

EMPOWER

NSE

₹1.64

-4.65%

19 Oct 2026

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Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.

Empower India is a publicly listed Indian company that has spent four decades as an IT infrastructure trader and managed-services provider, and is now attempting a high-stakes pivot into renewable energy. Incorporated in 1981 and listed on the BSE the same year, the company operates through a lean structure of five wholly owned subsidiaries. Its recurring approach is to use a capital-light, people-first model in its legacy IT business while incubating new ventures-from real estate to green hydrogen-inside separate subsidiaries, each funded directly from the parent’s balance sheet.

Business segments

Two engines at opposite ends of the lifecycle-a four-decade IT trading and services cash generator, and a green-energy bet still under construction-with the second being built on the cash flows and corporate platform of the first.

1. IT infrastructure and trading: the legacy cash engine

A no-inventory, no-factory business that earns by reselling IT products and managing clients’ technology systems, keeping costs variable and the balance sheet light.

Sells products, not just advice - the company trades in IT hardware and software, recognising revenue the moment goods are dispatched to the buyer under the sales contract, net of discounts and taxes.
Runs the back-office technology for other firms - its managed-services offering handles data-centre infrastructure, cloud computing, and network-performance improvement, so clients can upgrade ageing IT systems without building in-house teams.
No factory, no warehouse, no fixed assets - as of March 2025 the company held zero property, plant, equipment and zero inventory, which means its cost base is almost entirely people and purchased goods, keeping the business flexible.
Worldwide customers, local sourcing - it serves customers globally but sources the bulk of its products locally, so it carries no foreign-exchange risk on purchases.
Treasury income supplements operations - the company also earns from investments in quoted and unquoted equity shares, measured at fair value each reporting date, which adds a second, non-operating income stream inside the same segment.

2. Sustainable power and green energy: the diversification bet

A subsidiary-born venture aiming to build solar, bio-fuel, wind and green-hydrogen capabilities from scratch, starting with rooftop solar panels that tap government subsidies.

Housed in a dedicated subsidiary - the entire green-energy push sits inside Empower Energy Private Limited, incorporated in May 2024 with an authorised capital of ₹10 lakh, fully subscribed by the parent for cash.
Starts on the rooftop - the first commercial step is installing rooftop solar panels for residential customers, using the available government subsidy to make the offer affordable.
Ambitious scope beyond solar - the subsidiary’s charter covers energy from wind, hydro, tidal, geothermal, biomass, hydrogen and fuel cells, plus carbon-credit trading and renewable-energy consultancy.
Digital solar without ownership - in mid-2026 the company announced plans for a platform that would let consumers and businesses benefit from solar generation even if they lack a rooftop or the upfront capital, stitching together its technology-infrastructure and sustainable-power capabilities.
Still pre-revenue and asset-light - as of March 2025 the parent had no fixed assets and no inventory, and had not imported any technology; R&D spending is described as insignificant, confirming the venture is in its earliest build phase.

Group structure and partners

Five wholly owned subsidiaries sit under the listed parent, each created for a distinct purpose-trading, retail, housing, energy and ventures-with the trading subsidiary the only one currently generating material turnover.

Empower Tradex is the active operating subsidiary - acquired in January 2016, it reported turnover of roughly ₹60.6 crore and a modest profit after tax of about ₹19.9 lakh in FY25, making it the only subsidiary with meaningful commercial activity.
Retail and housing shells are ready - Empower Retail (incorporated December 2022) is authorised to trade consumer goods, FMCG, apparel and groceries, while Empower Housing (incorporated the same month) can buy, sell, develop and lease land and buildings, both in India and abroad.
A cross-border acquisition is on the drawing board - in April 2026 the company signed a term sheet to acquire a majority stake in UAE-based MABIL through an all-equity share swap, though the deal remains subject to due diligence, definitive agreements and regulatory approvals.
A large warrant issue was approved to raise capital - in early 2024 the board cleared a preferential issue of up to 36 crore convertible equity warrants to non-promoters at ₹2.50 per warrant, aiming to raise ₹90 crore, with conversion allowed within 18 months of allotment.
Promoters hold a small stake, public float is high - promoters own just over 15% of the equity, while individual shareholders hold roughly 80%, giving the company a widely dispersed shareholder base of nearly 3.5 lakh investors.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹191Cr

Close Price

₹1.64

Industry

Trading

Price To Earnings

10.25

Price To Sales

1.16

Revenue

₹164Cr

Rev Gr TTM

Revenue Growth TTM

46.49%

PAT Gr TTM

PAT Growth TTM

491.13%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	9	17	87	38	46	24	16	27	35	48	44	37
Growth YoY Revenue Growth YoY%	1,337.5	298.1	4,293.9	995.1	397.0	38.5	-81.5	-30.1	-24.1	101.6	175.3	40.8
Expenses ExpensesCr	9	14	88	36	44	24	21	28	32	47	45	38
Operating Profit Operating ProfitCr	1	3	-1	2	2	0	-5	-2	3	0	0	0
OPM OPM%	7.1	19.6	-0.7	5.6	4.7	0.9	-30.2	-6.4	8.2	0.8	-0.5	-1.1
Other Income Other IncomeCr	0	0	3	0	0	1	5	2	0	1	14	2
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	1	3	3	2	2	1	0	0	3	1	14	1
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	1	3	3	2	2	1	0	0	3	1	14	1
Growth YoY PAT Growth YoY%	1,525.0	16,700.0	25,100.0	430.0	229.2	-68.8	-103.6	-92.0	32.2	1.9	15,588.9	776.5
NPM NPM%	7.1	19.6	2.9	5.6	4.7	4.4	-0.6	0.6	8.2	2.2	31.5	4.0
EPS EPS₹	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.1	0.0

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	9	17	87	38	46	24	16	27	35	48	44	37
Growth YoY Revenue Growth YoY%	1,337.5	298.1	4,293.9	995.1	397.0	38.5	-81.5	-30.1	-24.1	101.6	175.3	40.8
Expenses ExpensesCr	9	14	88	36	44	24	21	28	32	47	45	38
Operating Profit Operating ProfitCr	1	3	-1	2	2	0	-5	-2	3	0	0	0
OPM OPM%	7.1	19.6	-0.7	5.6	4.7	0.9	-30.2	-6.4	8.2	0.8	-0.5	-1.1
Other Income Other IncomeCr	0	0	3	0	0	1	5	2	0	1	14	2
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	1	3	3	2	2	1	0	0	3	1	14	1
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	1	3	3	2	2	1	0	0	3	1	14	1
Growth YoY PAT Growth YoY%	1,525.0	16,700.0	25,100.0	430.0	229.2	-68.8	-103.6	-92.0	32.2	1.9	15,588.9	776.5
NPM NPM%	7.1	19.6	2.9	5.6	4.7	4.4	-0.6	0.6	8.2	2.2	31.5	4.0
EPS EPS₹	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.1	0.0

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	103	90	28	1	0	0	6	10	117	124	153	164
Growth Revenue Growth%	-4.5	-11.9	-68.9	-96.7	-93.9	-100.0		52.9	1,100.0	6.1	23.8	46.5
Expenses ExpensesCr	103	90	28	1	0	0	6	10	113	124	152	162
Operating Profit Operating ProfitCr	0	0	0	0	0	0	0	0	4	0	1	3
OPM OPM%	-0.1	0.3	0.2	-20.9	-527.5		-1.4	1.9	3.2	0.0	0.9	1.6
Other Income Other IncomeCr	0	0	0	0	-13	-8	0	0	3	6	17	17
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	0	-13	-8	0	0	7	6	18	19
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	0	0	0	0	-13	-8	0	0	7	5	18	19
Growth PAT Growth%	-235.6	121.0	-233.8	150.3	-45,304.7	43.0	98.8	282.0	4,225.8	-24.5	245.2	491.1
NPM NPM%	-0.2	0.1	-0.2	3.2	-24,017.5		-1.4	1.6	5.9	4.2	11.7	11.8
EPS EPS₹	0.0	0.0	0.0	0.0	-0.1	-0.1	0.0	0.0	0.1	0.0	0.1	0.2

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	103	90	28	1	0	0	6	10	117	124	153	164
Growth Revenue Growth%	-4.5	-11.9	-68.9	-96.7	-93.9	-100.0		52.9	1,100.0	6.1	23.8	46.5
Expenses ExpensesCr	103	90	28	1	0	0	6	10	113	124	152	162
Operating Profit Operating ProfitCr	0	0	0	0	0	0	0	0	4	0	1	3
OPM OPM%	-0.1	0.3	0.2	-20.9	-527.5		-1.4	1.9	3.2	0.0	0.9	1.6
Other Income Other IncomeCr	0	0	0	0	-13	-8	0	0	3	6	17	17
Interest Expense Interest ExpenseCr	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation DepreciationCr	0	0	0	0	0	0	0	0	0	0	0	0
PBT PBTCr	0	0	0	0	-13	-8	0	0	7	6	18	19
Tax TaxCr	0	0	0	0	0	0	0	0	0	0	0	0
PAT PATCr	0	0	0	0	-13	-8	0	0	7	5	18	19
Growth PAT Growth%	-235.6	121.0	-233.8	150.3	-45,304.7	43.0	98.8	282.0	4,225.8	-24.5	245.2	491.1
NPM NPM%	-0.2	0.1	-0.2	3.2	-24,017.5		-1.4	1.6	5.9	4.2	11.7	11.8
EPS EPS₹	0.0	0.0	0.0	0.0	-0.1	-0.1	0.0	0.0	0.1	0.0	0.1	0.2

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	116	116	116	116	116	116	116	116	116	116	116
Reserves ReservesCr	247	239	222	222	151	142	176	176	183	188	206
Current Liabilities Current LiabilitiesCr	35	48	218	200	194	2	4	6	16	63	107
Non Current Liabilities Non Current LiabilitiesCr	43	42	0	0	0	0	0	0	0	0	0
Total Liabilities Total LiabilitiesCr	470	484	556	539	461	261	297	298	316	367	429
Current Assets Current AssetsCr	8	8	186	171	169	6	6	6	15	58	106
Non Current Assets Non Current AssetsCr	462	475	371	368	292	255	291	293	301	309	323
Total Assets Total AssetsCr	470	484	556	539	461	261	297	298	316	367	429

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	116	116	116	116	116	116	116	116	116	116	116
Reserves ReservesCr	247	239	222	222	151	142	176	176	183	188	206
Current Liabilities Current LiabilitiesCr	35	48	218	200	194	2	4	6	16	63	107
Non Current Liabilities Non Current LiabilitiesCr	43	42	0	0	0	0	0	0	0	0	0
Total Liabilities Total LiabilitiesCr	470	484	556	539	461	261	297	298	316	367	429
Current Assets Current AssetsCr	8	8	186	171	169	6	6	6	15	58	106
Non Current Assets Non Current AssetsCr	462	475	371	368	292	255	291	293	301	309	323
Total Assets Total AssetsCr	470	484	556	539	461	261	297	298	316	367	429

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	8	5	-10	-1	14	-23	-16	-1	-6	18	-36
Investing Cash Flow Investing Cash FlowCr	-31	-7	-34	5	-15	189	189	1	8	0	-10
Financing Cash Flow Financing Cash FlowCr	25	1	42	-4	0	-166	-166	1	-1	21	15
Net Cash Flow Net Cash FlowCr	2	0	-2	0	-1	0	8	0	1	39	-31
Free Cash Flow Free Cash FlowCr	3	-2	104	-1	-1	2	10	0	1	18	-36
CFO To PAT CFO To PAT%	-3,923.9	12,431.2	17,031.9	-4,085.9	-105.0	305.0	17,954.7	-789.7	-92.9	338.8	-199.1
CFO To EBITDA CFO To EBITDA%	-10,747.4	2,171.2	-16,527.6	633.0	-4,781.2	22,797.6	18,016.2	-693.0	-169.7	-1,07,132.7	-2,717.4

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	8	5	-10	-1	14	-23	-16	-1	-6	18	-36
Investing Cash Flow Investing Cash FlowCr	-31	-7	-34	5	-15	189	189	1	8	0	-10
Financing Cash Flow Financing Cash FlowCr	25	1	42	-4	0	-166	-166	1	-1	21	15
Net Cash Flow Net Cash FlowCr	2	0	-2	0	-1	0	8	0	1	39	-31
Free Cash Flow Free Cash FlowCr	3	-2	104	-1	-1	2	10	0	1	18	-36
CFO To PAT CFO To PAT%	-3,923.9	12,431.2	17,031.9	-4,085.9	-105.0	305.0	17,954.7	-789.7	-92.9	338.8	-199.1
CFO To EBITDA CFO To EBITDA%	-10,747.4	2,171.2	-16,527.6	633.0	-4,781.2	22,797.6	18,016.2	-693.0	-169.7	-1,07,132.7	-2,717.4

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	41	57	57	22	22	17	17	36	358	175	120	191
Price To Earnings Price To Earnings									51.3	37.5	6.9	10.3
Price To Sales Price To Sales	0.4	0.6	2.0	24.0	368.5		2.8	3.7	3.1	1.4	0.8	1.2
Price To Book Price To Book	0.1	0.2	0.2	0.1	0.1	0.1	0.1	0.1	1.2	0.6	0.4	0.6
EV To EBITDA EV To EBITDA	-1,045.0	380.9	3,717.8	-975.6	-637.5	-170.1	-198.8	201.8	94.5	-9,461.2	111.8	88.3
Profitability Ratios Profitability Ratios
GPM GPM%	0.5	0.7	1.7	2.6	-127.7		1.6	4.9	3.5	0.4	1.4	1.4
OPM OPM%	-0.1	0.3	0.2	-20.9	-527.5		-1.4	1.9	3.2	0.0	0.9	1.6
NPM NPM%	-0.2	0.1	-0.2	3.2	-24,017.5		-1.4	1.6	5.9	4.2	11.7	11.8
ROCE ROCE%	0.0	0.0	0.0	0.0	-3.1	-3.0	0.0	0.1	2.3	1.7	5.0	5.0
ROE ROE%	-0.1	0.0	0.0	0.0	-5.0	-3.0	0.0	0.1	2.3	1.7	5.6	5.6
ROA ROA%	0.0	0.0	0.0	0.0	-2.9	-2.9	0.0	0.1	2.2	1.4	4.2	4.2
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	41	57	57	22	22	17	17	36	358	175	120	191
Price To Earnings Price To Earnings									51.3	37.5	6.9	10.3
Price To Sales Price To Sales	0.4	0.6	2.0	24.0	368.5		2.8	3.7	3.1	1.4	0.8	1.2
Price To Book Price To Book	0.1	0.2	0.2	0.1	0.1	0.1	0.1	0.1	1.2	0.6	0.4	0.6
EV To EBITDA EV To EBITDA	-1,045.0	380.9	3,717.8	-975.6	-637.5	-170.1	-198.8	201.8	94.5	-9,461.2	111.8	88.3
Profitability Ratios Profitability Ratios
GPM GPM%	0.5	0.7	1.7	2.6	-127.7		1.6	4.9	3.5	0.4	1.4	1.4
OPM OPM%	-0.1	0.3	0.2	-20.9	-527.5		-1.4	1.9	3.2	0.0	0.9	1.6
NPM NPM%	-0.2	0.1	-0.2	3.2	-24,017.5		-1.4	1.6	5.9	4.2	11.7	11.8
ROCE ROCE%	0.0	0.0	0.0	0.0	-3.1	-3.0	0.0	0.1	2.3	1.7	5.0	5.0
ROE ROE%	-0.1	0.0	0.0	0.0	-5.0	-3.0	0.0	0.1	2.3	1.7	5.6	5.6
ROA ROA%	0.0	0.0	0.0	0.0	-2.9	-2.9	0.0	0.1	2.2	1.4	4.2	4.2
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	SICAGEN	WARDWIZFBL	MACOBSTECH	EMPOWER	BHARATROHAN	NSL	TAINWALCHM
Market CapitalizationMkt CapCr	204	203	191	191	189	186	185
Close PriceClose₹	51.48	7.91	195.00	1.64	95.00	115.90	197.04
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	9.96	43.94	65.88	10.25	15.75	6.43	23.05
Price To SalesPS	0.19	0.84	4.62	1.16	2.22	0.08	10.38
RevenueRevenueCr	1,055	242	41	164	85	2,374	18
Revenue Growth TTMRev Gr TTM%	22.1%	129.5%	75.2%	46.5%	203.2%	17.7%	11.9%
PAT Growth TTMPAT Gr TTM%	21.4%	140.2%	20.7%	491.1%	10.9%	19.5%	15.4%

	SICAGEN	WARDWIZFBL	MACOBSTECH	EMPOWER	BHARATROHAN	NSL	TAINWALCHM
Market CapitalizationMkt CapCr	204	203	191	191	189	186	185
Close PriceClose₹	51.48	7.91	195.00	1.64	95.00	115.90	197.04
IndustryIndustry	Trading	Trading	Trading	Trading	Trading	Trading	Trading
Price To EarningsPE	9.96	43.94	65.88	10.25	15.75	6.43	23.05
Price To SalesPS	0.19	0.84	4.62	1.16	2.22	0.08	10.38
RevenueRevenueCr	1,055	242	41	164	85	2,374	18
Revenue Growth TTMRev Gr TTM%	22.1%	129.5%	75.2%	46.5%	203.2%	17.7%	11.9%
PAT Growth TTMPAT Gr TTM%	21.4%	140.2%	20.7%	491.1%	10.9%	19.5%	15.4%

FY2026

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2026

Jun 26