Greenleaf Envirotech Ltd(GREENLEAF)

NSE: GREENLEAF

₹ 106.4-4.96%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 63 crUpdated: 24 Oct 2026

About

Greenleaf Envirotech Ltd is an Indian environmental infrastructure company specialising in wastewater treatment and EPC projects for government and industrial clients. In FY26 it reported revenue of INR 60.61 crores, a 56% increase year-on-year. The company is developing a recurring-revenue CETP asset alongside its project execution business.^[1][2]

Business segments

Project execution - wastewater treatment and environmental infrastructure EPC - accounted for approximately 90% of revenue in FY26.^[2]
The company is building two additional revenue streams: CETP-based recurring treatment fees and resource recovery services (spent acid recycling, activated carbon regeneration), alongside an ESG consulting platform.^[2]

Key operating numbers

Order book stood at INR 95 crore as of FY26, with INR 80 crore scheduled for execution in FY27 and INR 15 crore spilling into FY28.^[2]
Bid pipeline was INR 200 crore as of FY26, with plans to bid a further INR 400 crore by end of FY27 at an ~20% order conversion rate.^[2]
CETP Phase 1 at Sayan, Surat: capacity for 4,000 textile machines (10 MLD); 2,500 machines (63% of Phase 1 capacity) already booked as of FY26.^[2]
SBR technology licence fees paid to external providers represented ~20% of EPC revenue as of FY26; the company's proprietary GAC-SBR technology is intended to internalise this cost.^[2]

Customers and distribution

Government clients (direct awards and EPC sub-contracts where the ultimate client is a government body) represented approximately 90% of the order book in FY26.^[2]
Private sector clients in the FY26 order book included Adani (INR 1.5 crore) and McCain Foods (INR 2 crore); the company targets new private contracts above INR 5 crore each.^[2]

Operations

The 10 MLD CETP at Sayan, Surat - an owned infrastructure asset with a project cost of INR 35 crore - was 70% complete on civil works as of FY26, targeting commissioning by March 2027.^[2]
In September 2026, Greenleaf invested INR 1,99,00,000 in its wholly owned subsidiary GEIPL via a rights issue of 19,90,000 equity shares at INR 10 per share; GEIPL executes CETP and environmental infrastructure projects.^[3]

Technology

The company developed GAC-SBR, a proprietary wastewater treatment technology claimed to offer improved efficiency and lower energy consumption; a patent application has been filed and a positive search report received as of FY26.^[2]
Once the patent is granted, the company intends to license or sell GAC-SBR technology to other EPC players as an additional revenue stream.^[2]

Expansion and capex

CETP Phase 1 at Sayan, Surat (INR 35 crore total cost, 10 MLD, 4,000 textile machines) is targeted for commissioning by March 2027, expected to generate ~INR 80 lakh per month in recurring revenue.^[2]
CETP Phase 2 plans to double capacity from 4,000 to 8,000 textile machines, targeting ~INR 160 lakh per month in recurring revenue; no target date stated.^[2]
The company plans to develop 4 - 5 new CETP or environmental infrastructure projects over the next 3 - 4 years (by approximately FY30).^[2]
Shareholders are being asked to approve raising the borrowing limit from INR 50 crore to INR 500 crore to fund business expansion; approval also sought for loans, guarantees or security up to INR 300 crore to subsidiaries and group entities.^[4]

Recent developments

On 29 September 2026, Greenleaf invested INR 1,99,00,000 in subsidiary GEIPL through a rights issue of 19,90,000 shares at INR 10 each, to fund GEIPL's operational expenses, working capital and capital expenditure.^[3]
As of April - May 2026, the company had collected INR 15 crore of the INR 38 crore trade receivables balance reported at the FY26 year-end.^[2]

Market Cap

₹63 Cr

High / Low

₹186 / 53

Stock P/E

10.5

Price / Book

4.9

Book Value

₹59

EPS

₹12.2

No. of Shares

0.59 Cr

ROCE

24.7%

ROE

20.8%

OPM

16.9%

Debt / Equity

0.19

Sales

₹61 Cr

Net Profit

₹7 Cr

Promoter holding

56.4%

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