Apollo Green Energy
| Market Cap | ₹4,204Cr. | Stock P/E | 109 |
| Current Price | ₹74 | Book Value | ₹31 |
| Lot Size | 100 | 52W Low | ₹ |
| 52W High | ₹ | Demat Account | NSDL\CDSL |
| EPS | 2.25 | ISIN | INE838A01015 |
| Debt to Equity | 0.76 | Valuation | ⭐⭐⭐⭐⭐ |
| Face Value | 10 | No. of Shares | 17.16 |
Current Price : ₹74
Price History
Description
| Buy Price | Minimum Quantity | Amount |
|---|---|---|
| ₹ 70 | 1000 | ₹ 70000 |
| Sell Price | Minimum Quantity | Amount |
|---|---|---|
| ₹ 74 | 1000 | ₹ 74,000 |
Company Overview:
Company Overview : Apollo Green Energy Limited is a company focused on advancing sustainable energy solutions, primarily specializing in renewable energy technologies and services. With a commitment to reducing environmental impact, Apollo Green Energy aims to provide clean and efficient energy sources, likely including solar, wind, and biomass energy solutions. The company’s mission revolves around supporting the global shift toward renewable resources, helping industries and communities minimize their carbon footprint. Apollo Green Energy may be involved in developing, installing, and maintaining energy systems tailored to both large-scale industrial applications and smaller, community-based projects. By integrating modern technology and sustainable practices, the company strives to support energy resilience and independence. Apollo Green Energy’s operations likely contribute to a greener economy, aligning with global environmental goals and catering to the increasing demand for renewable energy solutions. This commitment helps its clients achieve energy efficiency while promoting eco-friendly growth.
Announcement and News
ED Raids on UAE-based Fugitive’s Money Laundering Network Links to IPO-bound Apollo Green Energy’s as Accomplice
The Enforcement Directorate’s Gurugram office executed extensive search operations across Delhi, Gurugram and Rohtak on 26-27 December, 2025, revealing a sophisticated money laundering network that has ensnared Apollo Green Energy Limited, a renewable energy company that was reportedly preparing for a public market debut. The raids, conducted at 10 locations, have exposed the company’s alleged involvement in a criminal enterprise orchestrated by UAE-based fugitive Inderjit Singh Yadav.
Federal investigators recovered substantial evidence during the two-day operation, including five luxury vehicles, multiple bank lockers, cash totaling ₹17 lakh and numerous incriminating documents and digital devices. The searches were conducted under the Prevention of Money Laundering Act, 2002, targeting Yadav, his associates, Apollo Green Energy Limited and other connected entities.
The investigation emerged from more than 15 first information reports filed by law enforcement agencies in Haryana and Uttar Pradesh. These cases invoke provisions from the Arms Act of 1959, the Bharatiya Nyaya Sanhita of 2023, and the Indian Penal Code of 1860, painting a picture of systematic criminal activity spanning multiple jurisdictions.
Inderjit Singh Yadav, who controls Gem Records Entertainment Private Limited (known commercially as Gems Tunes), stands accused of orchestrating a wide-ranging criminal operation. Authorities describe him as a notorious figure with alleged involvement in murder, extortion, fraudulent activities, illegal property seizures, and violent crimes. Currently evading arrest and operating from the United Arab Emirates, Mr Yadav faces multiple warrants from Haryana police.
The federal agency’s probe uncovered that Yadav developed and managed an online platform specifically designed to facilitate loan settlements between corporate borrowers and private lenders. This digital infrastructure allegedly served as the backbone for his coercive financial operations.
The Corporate Connection: Apollo Green Energy’s Alleged Role
Apollo Green Energy Limited emerges as accomplice as per ED in the alleged scheme. According to the ED’s findings, certain corporate entities, including Apollo Green, reportedly obtained substantial cash loans from private financiers based in Dighal village within Haryana’s Jhajjar district. These transactions were secured through post-dated checks, creating a complex web of informal financing.
Investigators assert that Mr Yadav functioned as an enforcer, using intimidation and threats to facilitate settlements of high-value private loan disputes involving hundreds of crores of rupees. The settlements allegedly involved armed associates and local criminal gangs, with connections to organized crime networks operating internationally.
The federal agency contends that Yadav collected massive commissions from these corporate entities for his settlement services. These proceeds, running into hundreds of crores, were allegedly laundered through purchases of real estate, luxury automobiles, and funding an extravagant lifestyle—all while reporting minimal income on tax returns.
The timing of these revelations is particularly significant given Apollo Green Energy’s deteriorating financial position. The company has been facing severe liquidity challenges, with overdue payments to bondholders and successive credit rating downgrades.
In recent communications reviewed by financial media, the company acknowledged delays in servicing a two-year non-convertible debenture that matured in July 2025. Management assured investors that interest payments would be processed shortly, while principal repayments, including overdue interest, would require another 70-75 days.
Multiple credit rating agencies have flagged serious concerns about Apollo Green’s financial health. CRISIL downgraded the company’s bank facilities, worth ₹330 crore, to the lowest rating category, indicating default or expected default. The agency cited irregularities in account conduct and labeled the issuer as non-cooperative after repeated attempts to obtain information in September 2025.
Similarly, Infomerics downgraded ratings on bank facilities aggregating ₹322.83 crore and non-convertible debentures (NCDs) totalling ₹100 crore. The agency pointed to inadequate information availability, the absence of no default statements since May 2025, and uncertainty surrounding credit risk. Both agencies maintained their ‘issuer not cooperating’ designation, suggesting the management’s reluctance to provide transparency.
The company’s lenders include major public sector banks (PSBs) : State Bank of India, Indian Bank and Bank of India, raising concerns about potential exposure to these institutions.
Apollo Green’s ambitious expansion plans appear to have faltered significantly. In January 2025, the board approved a massive ₹4,110 crore private placement, planning to issue 13.7 crore equity shares at ₹300 per share. However, reports indicate the company managed to raise merely ₹78 crore by July 2025—a shortfall of catastrophic proportions.
Additionally, in August, it sought shareholder approval to extend ₹1,500 crore in loans, guarantees, and securities to subsidiaries, associates, and related group entities. This move, ostensibly to support working capital and expansion needs, now appears in a different light given the ED’s allegations.
Apollo Green Energy’s journey began in 1994 as Apollo International Limited, established in Gurugram (Haryana). Initially serving as an export arm for Apollo Tyres Limited, handling global marketing and exports, the company later diversified into leather garment manufacturing and construction infrastructure development. The transformation to Apollo Green Energy Limited occurred in 2023, marking a strategic pivot toward green and sustainable EPC projects, including renewables and sustainable development initiatives. This rebranding now faces scrutiny in light of the alleged connections to illegal financial operations. The investigation remains active, with authorities examining the full extent of assets acquired through alleged proceeds of crime. The discovery of movable and immovable properties registered in Mr Yadav’s name and those of his family members suggests the probe may expand further.
As the ED continues its scrutiny, Apollo Green Energy faces a dual crisis: managing its immediate financial distress while addressing serious allegations of complicity in a money laundering scheme. The outcome of this investigation could have far-reaching consequences for the company’s survival, its stakeholders, and potentially for regulatory frameworks governing corporate financing in India’s renewable energy sector.
The case serves as a reminder that rapid growth and ambitious expansion plans require not just capital and capability, but also rigorous adherence to legal and ethical standards—standards that, according to federal investigators, may have been severely compromised in the pursuit of financial gain.
Financial Data (IN CR.)
| YEAR | 2024 | 2023 | 2022 |
|---|---|---|---|
| NET SALES | 1234.3 | 753.4 | 810.4 |
| TOTAL INCOME | 1268.4 | 790.8 | 852.4 |
| NET PROFIT | 38.6 | 24.7 | 41.4 |
| SHAREHOLDERS FUND | 532.3 | 469.5 | 431.6 |
| TOTAL ASSETS | 1483.3 | 1202.8 | 1470.1 |
| EPS | 2.25 | 1.44 | 19.09 |
Financial Docs
| Type | Period/Date | Document |
|---|---|---|
| Annual Report | 2023-24 | Download |
Profit and Loss (IN CR.)
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| Revenue | 810 | 753 | 1234 |
| Cost Of Material Consumed | 262 | 321 | 465 |
| Gross Margin | 67.65 | 57.37 | 62.32 |
| OPM | 7.28 | 2.92 | 5.95 |
| Other Income | 58 | 44 | 34 |
| Other Expenses | 396 | 357 | 647 |
| Depreciation & Amortization | 34 | 6 | 64.48 |
| Profit before tax | 78 | 32 | 41 |
| Net Profit Margin | 5.06 | 3.32 | 3.11 |
| EPS in Rs | 21.58 | 13.16 | 20.22 |
| Finance Cost | 80 | 27 | 57 |
Balance Sheet (IN Cr.)
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| Share Capital | 19 | 19 | 19 |
| Reserves | 412 | 450 | 532 |
| Borrowings | 609 | 340 | 401 |
| Other Liabilities | 291 | 255 | 531 |
| Total Liabilities | 1470 | 1203 | 1483 |
| Fixed Assets | 444 | 43 | 45 |
| CWIP | 0.8 | 0 | 0 |
| Investments | 268 | 480 | 331 |
| Other Assets | 510.2 | 428 | 658 |
| Total Assets | 1470 | 1203 | 1483 |
Shareholding Pattern
| Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|
| OSK Holding (AIL) Private Limited | – | – | 32% |
| All Consultants Private Limited | – | – | 21% |
| Raaja Kanwar | – | – | 18% |
| Amit Dyechem Private Limited | – | – | 15% |
| Global Propmart Private LImited | – | – | 13% |
| Others | – | – | 1% |