This penny stock is a consultancy and service provider specializing in engineering, construction, and project execution in the power and telecom sectors. The stock has hit a 5 percent upper circuit after receiving an order worth Rs. 15.58 crore from NHPC Limited for developing a rooftop solar power project.
Stock Price Movement
With a market capitalization of Rs. 88.77 crores, the shares of Sharika Enterprises Limited’s stock surged by 5 percent, reaching an upper circuit of Rs. 20.74 per share on Wednesday, up from its previous closing price of Rs. 19.76 per share. Since then, the stock has retreated and is currently trading at Rs. 20.50 per equity share.
What Happened
Sharika Enterprises Limited has secured a Rs. 15.58 crore contract from NHPC Limited for developing 4 MW rooftop solar power projects across various locations in Jammu & Kashmir under the PM Surya Ghar: Muft Bijli Yojna.
The project includes a nine-month EPC execution period and a five-year comprehensive O&M phase, reinforcing the company’s role in India’s renewable energy growth.
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Recent Orders
On January 20, 2025, Sharika Enterprises Limited secured a Rs. 5.74 crore contract from POWERGRID Energy Services Limited for the supply and installation of rooftop solar systems under the PM Surya Ghar-Muft Bijli Yojna in Ladakh, Rajasthan, and Northern Region.
Further, on December 26, 2024, the company also received Rs. 8.29 crore in orders from JSW Renew Energy entities for underground cable supply and installation at Kudaligi, Karnataka, and Lohara, Maharashtra, to be completed in 3-4 months.
Additionally, on December 28, 2024, Sharika announced pilot projects worth over Rs. 8 crore for converting 33kV overhead lines into underground cabling systems in Maharashtra and Karnataka.
Business Operation
The company offers management consultancy for the power sector, project execution services, and engineering procurement and construction (EPC) contracts, providing comprehensive solutions to enhance operational efficiency and infrastructure development.
Recent quarter results
Sharika Enterprises Limited’s revenue has increased from Rs. 11.57 crore in Q2 FY24 to Rs. 24.46 crore in Q2 FY25, which has grown by 111.41 percent. The net loss has increased by from Rs. -1.89 crore in Q2 FY24 to Rs. -3.11 crore in Q2 FY25.
Written By – Nikhil Naik
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