Auto ancillary stock jumps up to 11% after securing order worth Rs. 77 Cr from telecom Industry PSU During Monday’s trading session, the shares of a company engaged in manufacturing custom lithium-ion batteries, motors and powertrain components for EVs moved up by nearly 11 percent, after securing a purchase order worth nearly Rs. 77 crores for the supply of lithium-ion batteries.
Price Movement
With a market cap of Rs. 302.8 crores, the shares of CLN Energy Limited closed in the green at Rs. 287 on BSE, up by nearly 9.8 percent, as compared to its previous closing price of Rs. 261.7.
The bidding for the CLN Energy IPO started on 23rd January 2025, and concluded on 27th January 2025. The allotment for the IPO was finalized on 28th January 2025. The shares were listed on BSE SME on 30th January 2025. The price band for the CLN Energy IPO was set at Rs. 250 per share.
What’s the news
According to the latest regulatory filings with the BSE, CLN Energy Limited has announced receiving an order worth nearly Rs. 77 crores from an undisclosed Public Sector Undertaking (PSU) in the telecom industry.
The purchase order involves the supply of Lithium-Ion Batteries and is scheduled to be completed within 7 months.
Also read: Why did AGS Transact shares fall by more than 74% in less than a year?
Financials
CLN Energy reported a marginal growth in revenue from operations, experiencing a year-on-year rise of nearly 3 percent, from Rs. 129 crores in FY23 to Rs. 133 crores in FY24.
Similarly, its net profit increased during the same period from Rs. 1 crores to Rs. 10 crores, representing an impressive rise of nearly 900 percent YoY.
About the company
Incorporated in 2019, CLN Energy Limited is engaged in the business of manufacturing customized lithium-ion batteries and motors, along with dealing in powertrain components of electric vehicles (EVs) such as controllers, throttles, DC-DC converters, display, differential etc.
The company offers B2B solutions for mobility applications such as electric two, three and four-wheelers, including traction applications as well as stationary applications such as solar, ESS, and telecommunications.
Written by Shivani Singh
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