The shares of the leading solar energy company gained up to 5 percent after the company bagged a prestigious work order from NTPC Vidyut Vyapar Nigam Limited for Rs 2.01 crore.
Price movement
With a market capitalization of Rs 518.84 crore, the shares of Solarium Green Energy Ltd were trading at Rs 248.85 per share, increasing around 3.26 percent as compared to the previous closing price of Rs 241.00 apiece.
Reason for rise
The share of Solarium Green Energy Ltd has seen positive movement after receiving an additional work order worth Rs 2.01 crore from NTPC Vidyut Vyapar Nigam Limited. This order includes an additional capacity of 650 KW of Troop Comforts Limited under “Development of 6929 KW Grid Connected Rooftop Solar Projects at Various Locations of Central Armed Forces and Departments Under Ministry of Home Affairs.
Financial performance
Examining the company’s financial condition, its revenue zoomed by 78 percent from Rs 99 crore in FY22-23 to Rs 177 crore in FY23-24, and during the same time frame, net profit magnified by 700 percent from Rs 2 crore to Rs 16 crore.
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Project Development
The company has successfully developed, executed, and commissioned 11,195 residential rooftop projects, 172 projects in the commercial and industrial (C&I) rooftop and ground-mounted segment, and 17 government projects. This showcases its strong presence across residential, commercial, industrial, and government sectors, reinforcing its expertise in renewable energy infrastructure.
Footprint
The company executes turnkey projects across ten Indian states, including Gujarat, Delhi, Rajasthan, Haryana, and Punjab in the north; Odisha in the east; Maharashtra in the west; Uttar Pradesh and Madhya Pradesh in central India; and Jammu & Kashmir in the north.
Order Book
As of December 31, 2024, the company’s ongoing order book includes 39 projects worth Rs 18,507.16 lakh. Revenue recognized till September 30, 2024, is Rs 4,482.85 lakh. The order book pertains solely to Commercial & Industrial (C&I), Ground-mounted, and Government projects.
Company Profile
Solarium Green Energy offers turnkey solar solutions, handling design, engineering, procurement, construction, testing, commissioning, and O&M of solar power plants. It executes residential, commercial, industrial, and government solar projects, including rooftop and ground-mounted systems, ensuring efficient and sustainable energy solutions.
Written by Abhishek Singh
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