Thin Net Profit MarginA ~4% net margin provides a limited earnings buffer versus input-cost or pricing shocks. Even with margin expansion, low absolute profitability makes long-term cash flow and shareholder returns sensitive to commodity costs, warranty/project overruns and competitive pricing pressure.
High Sensitivity To Market CyclesElevated beta reflects structural exposure to demand cycles, project timing and policy shifts in renewables. Over a 2–6 month horizon this implies more variable revenues and earnings versus more defensive businesses, complicating planning for stable cash flows and contract pricing.
Concentration In Solar/module + EPC ExposureHeavy reliance on a single industry and project-based revenue concentrates regulatory, policy and execution risk. Structural exposures—government policy changes, tender outcomes, commodity input costs and project delays—can materially affect earnings and cash flow durability.