A solar stock drew investor attention after securing a Rs.65.5 crore EPC order from Synergy Wave System LLP under the KUSUM Scheme. The order involves the design, supply, installation, and commissioning of grid-connected solar power plants in Uttar Pradesh, boosting the company’s renewable energy portfolio and growth outlook.
During Wednesday’s trading session, the shares of GP Eco Solutions India Ltd reached an intra-day high of Rs.347.00 per share, falling from its previous close of Rs.349.35 each. The shares have retreated since then and currently trading at Rs.336.75 apiece.
Contract Specifications
GP Eco Solutions India Ltd has received a Letter of Intent (LOI) from Synergy Wave System LLP for executing Engineering, Procurement, and Construction (EPC) work for grid-connected solar power plants under the KUSUM Scheme – Component C (Feeder Level Solarization).
The scope of work includes design, survey, supply, installation, testing, and commissioning of the solar projects in Bareilly District, Uttar Pradesh. The total value of the order stands at Rs.65.52 crore, marking a significant step forward in the company’s renewable energy initiatives and expanding its presence in government-backed solar infrastructure projects.
| Sr. No | Plant Capacity AC (MW) | Plant Capacity DC (MW) | Substation | Approved Rates (Rs/MW DC) | Total Plant Cost (Rs) |
| 1 | 2.4 | 3.12 | Bhamora | 4,00,00,000/- | 12,48,00,000/- |
| 2 | 2.5 | 3.25 | Fatehganj | 4,00,00,000/- | 13,00,00,000/- |
| 3 | 3.8 | 4.94 | Aonla | 4,00,00,000/- | 19,76,00,000/- |
| 4 | 3.9 | 5.07 | Punnapur | 4,00,00,000/- | 20,28,00,000/- |
Upcoming Solar Projects
GP Eco Solutions has a robust pipeline of upcoming solar projects across multiple Indian states, with a combined capacity of approximately 118 MW (AC) and 151 MW (DC). Under the EPC model, major installations are planned in Tamil Nadu (100 MW AC / 128 MW DC) and at Paradip Port, Odisha (10 MW AC / 12 MW DC).
Additionally, under the RESCO model aligned with the PM-KUSUM Scheme (Component C and C2), projects are scheduled in Jhalawar, Rajasthan (2.67 MW AC / 3.74 MW DC), Etawah, Uttar Pradesh (2.30 MW AC / 3.22 MW DC), and Kanpur Dehat, Uttar Pradesh (3.00 MW AC / 4.20 MW DC). These projects highlight the company’s ongoing efforts to expand its solar footprint and support India’s renewable energy mission.
The company serves a wide range of clients across the renewable energy sector. Some of the notable names include Adani, Reliance, Kirloskar Solar, CleanMax, Waaree, SunAlpha Energy, Synergy Wave System, M+ Solar, and the Embassy of Sweden. The client base spans EPC contractors, solar developers, and institutional organizations across various regions.
Earnings Report
In its latest financial update, GP Eco Solutions India Ltd reported a consolidated revenue of Rs.161 crores for H2 FY25, marking a 104 percent increase from Rs.79 crores in H1 FY25. Additionally, net profits remained stable at Rs.5 crores, during the same period last year.
The company has a Return on Capital Employed (ROCE) of 16.48 percent and a Return on Equity (ROE) of 15.98 percent. Its Price-to-Earnings (P/E) ratio stands at 39.47, higher than the industry average of 30.38. Furthermore, the company maintains a current ratio of 1.76, a debt-to-equity ratio of 0.51, and an Earnings Per Share (EPS) of Rs.8.85.
Written by – Siddesh S Raskar
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