During Tuesday’s trading session, the shares of a company specialising in engineering construction and development with a focus on roads, sewerage and water distribution projects hit a 5% upper circuit on NSE, after securing solar power order from Jaipur Vidyut Vitaran Nigam Limited for 39.4 MW capacity and signing MoU worth Rs. 1500 crores.
Price Movement
With a market cap of Rs. 437.8 crores, the shares of Teerth Gopicon Limited hit a 5 percent upper circuit at Rs. 364.85, compared to its previous closing price of Rs. 347.5.
What’s the news
According to the latest regulatory filings with the NSE, Teerth Gopicon Limited has received a Letter of Intent (LoI) from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for the development of solar power plants with a total capacity of 6.89 MW.
The order covers the design, survey, supply, installation, testing, and commissioning of grid-connected solar power plants through RESCO mode. Additionally, it covers the installation of the associated 11 kV line to connect the plant with various 33/11 kV sub-stations and remote monitoring system (RMS) of solar power plants, all under component A of PM- KUSUM Scheme of JVVNL.
The project is expected to be completed within 9 months of the work order issuance, with operation and maintenance for 25 years from the COD for both the power plant and the associated 11 kV line.
Additional Information
The company signed a Memorandum of Understanding (MOU) with The New and Renewable Energy Department, Government of Madhya Pradesh, during the Global Investor Summit 2025, held in Bhopal on 24th February 2025.
The MOU sets forth the intent of the company to invest Rs. 1500 crores in setting up a project with a capacity of 3 GW of Topcon Solar Module Manufacturing and 3 GW of Solar Cell Manufacturing Line in Madhya Pradesh.
Also read: Bulk Deal: Stock under ₹50 jumps 4% after its promoter bought 6,00,000 shares
Previous Orders
5th February: The company was declared as L1 (First Lower) Bidder by the NHPC Limited for the tender “Package-1: Works for boundary survey, chain link fencing, gates, and compound walls around the 600 MW (Phase-I) solar power park for the development of a 1200 MW solar park under UMPPRE in Jalaun, Uttar Pradesh,” with a bid project cost of Rs. 20.2 crores.
8th February: Teerth Gopicon secured a Letter of Intent (LoI) from JVVNL for the development of solar power plants with a total capacity of 39.4 MW.
The order covers the design, survey, supply, installation, testing, commissioning, operation & maintenance of grid-connected solar power plants under the RESCO mode from the Commercial Operation Date (COD).
It also includes the associated 11 kV line to connect the plant to various 33/11 kV sub-stations, along with the remote monitoring system (RMS) for the solar power plants, as per TN-01 under Component A of the PM-KUSUM Scheme of JVVNL.
Financials
Teerth Gopicon experienced a significant growth in its revenue from operations, showing a year-on-year increase of around 84 percent from Rs. 37.4 crores in H1 FY24 to Rs. 68 crores in H1 FY25.
Similarly, its net profit increased during the same period from Rs. 3 crores to Rs. 10 crores, indicating an impressive rise of nearly 233.3 percent YoY.
About the company
Teerth Gopicon Limited specialises in engineering construction and development, mainly focusing on roads, sewerage and water distribution projects in Madhya Pradesh and expanding its geographical footprint to other states as well.
Written by Shivani Singh
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