| Reviewer | Recommendation |
| IPOWatch | May Apply |
| Beacon Capital Advisors Pvt. Ltd. (Equivision) | Apply |
| Kunvarji Wealth Solutions | Subscribe For Long-term View |
| Capital Market | Neutral |
| Swastika Investmart Ltd. | Neutral |
| Dilip Davda | Not Rated |
| Axis Capital Ltd. | Not Rated |
The company generates revenue by supplying the electricity produced from its renewable energy projects to public sector power companies like central and state government-backed entities under long-term Power Purchase Agreements (PPAs).
For long-term investment, this IPO might be a good fit. Overall, investors should carefully evaluate the company’s fundamentals, strengths, risks, and growth prospects before making any investment decision.
Strengths:
- Juniper Green is among the top 10 largest renewable energy independent power producers in India, with a total capacity of 7,910.20 MW (10,247.06 MWp) across 50 projects.
- The firm has a reputation for obtaining the required land for the project in advance while ensuring strong connection to the electricity transmission grid.
- The company has long-term power purchase agreements (PPAs) with the central and state government entities, with fixed tariff structures which allow them to earn long-term and stable income.
- They have a reputation for building projects earlier than planned with the help of their skilled in-house engineering, procurement, construction, operations & maintenance teams.
Weaknesses:
- A portion of its revenue comes from the sale of electricity. Around 86.06% of revenue is derived from its top 2 off-takers. Loss of any of the off-takers or a rift in the relationship can negatively affect the business.
- The firm is dependent on its top 10 suppliers to acquire critical components, equipment, material, and other goods for its project operations. Loss/delay of any suppliers or any interruption take place can adversely impact the business operations.
- Its renewable energy projects are located in the states of Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh. Any change in government rules or a natural disaster occurring in those regions can adversely impact the business and cash flow.
- Juniper Green’s business depends on securing suitable land for its project development. Not being able to find suitable land at a reasonable cost or before the time can lead to penalties and lower revenue.
Disclaimer
Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the company’s RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
