The shares of the solar component solution provider hit 2 percent upper circuit after the company bagged a prestigious work order for a solar power project worth Rs 30 crore.
Price movement
With a market capitalization of Rs 302.61 crore, the shares of GP Eco Solutions India Ltd. were trading at Rs 258 per share, increasing around 2 percent as compared to the previous closing price of Rs 253.35 apiece.
Reason for rise
The shares of GP Eco Solutions India Ltd have seen positive movement after bagging a letter of award (LoA) from Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for the development of a 2.3 MWac grid-connected solar power project at Etawah, U.P., and a 3
MWac grid-connected solar power project at Kanpur Dehat, U.P., under the PM-KUSUM Component-C2 Scheme through the RESCO model amounting to Rs 30 crore.
Financial Performance
Looking forward to the company’s financial performance, revenue soared by 84 percent from Rs 43 crore in H1FY24 to Rs 79 crore in H1FY25, and during the time frame, net profit magnified by 150 percent from Rs 2 crore to Rs 5 crore.
Recent Order
On March 13, 2025, the company announced that it had bagged an order for an EPC Turnkey Contract. This EPC Turnkey contract will focus on a 128MWp capacity of ground-mounted solar power project. The contract amounts to Rs 300+ Crores, and the project will be commissioned in modular phases (40 MWp+40 MWp+48MWp) within 18-24 months.
Also read: Ashish Kacholia stock hits 5% upper circuit after promoter increases stake in the Co.
Key updates
As per a press release, on February 26, 2025, GP Eco Solutions India Limited signed an MoU with the New and Renewable Energy Department, Government of Madhya Pradesh, as per a press release.
Through this MoU, GP Eco Solutions India Ltd intends to invest Rs 1,000 Crore by the end of FY 2028 for the development of solar power infrastructure in Madhya Pradesh by setting up a manufacturing unit for solar panels of 5GW and cells of 2GW capacity in the state.
Company Profile
GPES Solar is a distributor of solar products and services in India. The company is the authorized distributor for Sungrow India Private Limited for its solar inverters in north India, Saatvik Green Energy Private Limited, and LONGI Solar Technology Company Limited for solar panels in north India.
Written by Abhishek Singh
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