Key Metrics of Neev Energy LLP
About Neev Energy LLP
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 21 Oct 2026 | ICRA | Reaffirmed | BB+ | — | Stable | ₹55.0 Cr | View |
Credit strengths (ICRA, Oct 2026)
+ Strong demand of industrial and outdoor smart lighting
NEL benefits from the healthy demand for smart lighting solutions, particularly in the industrial and outdoor segments.
+ Comfortable leverage indicators and debt protection metrics
As on March 31, 2026, the company reported a tangible net worth of Rs. 92.3 crore (provisional), supported by capital infusion from the promoters, as and when required.
+ Healthy track record of project execution
NEL has consistently completed projects as per timelines in the street lighting segment, which led to repeat orders and long -term contracts.
Credit challenges
− Moderate scale of operations
NEL's scale of operations remains moderate, reflected in an operating income of around Rs. 70 crore in FY2026 (provisional).
− Long working capital cycle owing to high receivable period
NEL’s receivable cycle remains elongated, primarily due to its billing pattern, which is skewed towards the last quarter of the fiscal.
Could lead to an upgrade
ICRA could upgrade NEL’s ratings, if there is a sustained improvement in its revenues and profitability, leading to an improvement in the overall working capital position.
Could lead to a downgrade
Pressure on NEL’s ratings could arise, if there is a substantial decline in revenues and profitability, thus weakening debt coverage metrics on a sustained basis. Further deterioration in the working capital cycle, impacting the company’s
Agency-reported financials (ICRA, 21 Oct 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income (OI) | ₹67.30 Cr | ₹70.40 Cr |
| PAT | ₹3.10 Cr | ₹5.60 Cr |
| OPBDIT/OI | 9.6% | 13.5% |
| PAT/OI | 4.7% | 8.0% |
| Total outside liabilities/Tangible net worth (times) | 0.70× | 0.80× |
| Total debt/OPBDIT (times) | 2.50× | 1.70× |
| Interest coverage (times) | 2.80× | 5.50× |
| Revenue growth (YoY) | — | 4.6% |
| EBITDA (margin × income) | ₹6.46 Cr | ₹9.50 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹16.15 Cr | ₹16.15 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹2.31 Cr | ₹1.73 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Short-term – Non-fund based Others ISSUER | Non-fund based limits | ₹42.0 Cr | ₹42.0 Cr | 0.0% | A4+ | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 53% |
| Information on file | 44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 50% chance the next rating action is stable or better
- Current rating BB+ (below investment grade)
- Interest coverage 5.5×
- Working-capital limits 90% utilised on average
Rated limits by facility
Timeline
From the report
Comfortable leverage indicators and debt protection metrics – As on March 31, 2026, the company reported a tangible net worth of Rs. 92.3 crore (provisional), supported by capital infusion from the promoters, as and when required.
From the report
However, the average working capital utilisation remained high, which stood at around 90% for the 15-month period ending in June 2026 on account of limited sanctioned working capital limits of Rs. 13 crore.
From the report
However, the average working capital utilisation remained high, which stood at around 90% for the 15-month period ending in June 2026 on account of limited sanctioned working capital limits of Rs. 13 crore.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.