Synopsis:
Sharika Enterprises Limited, an EPC and management consultancy firm in the power sector, has received significant purchase orders from JSW companies. These include a Rs. 58.16 lakh order from JSW Renew Energy Three Ltd for 33KV Outdoor Smart SF6 equipment and a Rs. 19.13 crore order from JSW Steel Ltd for 220KV HT and 33KV cables at its Dolvi facility.
The shares of this penny stock engaged in the business of Management Consultancy & Project Execution Services in the power sector are in the spotlight after receiving an order from JSW Renew Energy Three Ltd.
With market capitalization of Rs. 64.4 cr, the shares of Sharika Enterprises Ltd are currently trading at Rs. 14.89 per share, locked at 20% upper circuit in today’s market, from its previous close of Rs. 12.41 per share.
Fresh orders
Sharika Enterprises Limited has received a purchase order from JSW Renew Energy Three Limited for the supply of 33KV Outdoor Smart SF6 (Without Fuse) and 33KV Outdoor Smart SF6 (Single Panel). The total value of the contract is Rs. 58.16 lakh.
The order has been awarded for a domestic supply project, with a stipulated completion period of six months from the date of the contract. This supply forms part of JSW Renew Energy’s ongoing infrastructure and energy distribution projects.
This order represents a strategic supply contract for Sharika Enterprises, enhancing the company’s presence in the energy sector and contributing to its revenue growth over the next six months.
The company has also received a purchase order from JSW Steel Ltd for the supply and services of 220 KV HT cables and supply of 33 KV cables along with accessories at JSW Steel’s Dolvi facility. Total value of the contract is Rs. 19.13 cr. The contract is to be executed over a period of six months and represents a domestic supply/service order.
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About the company
Sharika Enterprises Limited is a leading Indian company specializing in electrical and energy solutions, including high-voltage equipment and renewable energy projects. The company focuses on design, supply, and installation of advanced electrical systems for industrial and infrastructure clients, with a strong emphasis on quality, innovation, and supporting India’s transition to sustainable energy.
On a year-over-year basis, the company’s sales declined 3% to Rs. 17.5 crore, compared to Rs. 18.0 crore in Q1FY25, while EBIDT improved by 44%, reaching a loss of Rs. 1.13 crore. The company reported a net loss of Rs. 1.68 crore, an improvement of 35% from a net loss of Rs. 2.48 crore a year ago, resulting in an EPS of Rs. 0.37 in loss, compared to Rs. 0.57 in loss in Q1FY25.
The company’s working capital cycle has improved, with requirements declining from 92.5 days to 57.4 days, indicating more efficient management of receivables, inventory, and payables.
Written by Manideep Appana
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