This S&P BSE SME IPO stock rose 5% within the first 15 minutes of market open on Monday after it bagged an order. The stock is seeing volumes that are in line with last week and monthly averages for the time being. It was listed in July 2023 with a a market cap of Rs. ~112 crore. The stock is currently trading 24% from its 52 week high.
Ahasolar Technologies Ltd (“Ahasolar”) stated in a filing dated 8th September 2023 that it has received an order worth Rs. 30 lakh from Hindustan Petroleum Corporation Limited for Consultancy Services for Solar
Power plant pre-feasibility report at different locations in India. The work order is to be completed within one year’s time.
Earlier this month, in a filing dated 1st September 2023, the company had received another order for Consultancy Services of detailed project report and Bid process Management with respect to the Solar Power plant project at Mormugao Port Authority. This order is worth Rs. 18 Lakh and to be completed within November 2023.
Ahasolar Technologies Limited develops software and operates as Software as a Service (“SaaS”) for solar companies and government agencies to manage their solar business through AI based intelligent Solar Digital Platform.
The company’s expertise include: Software and Advisory on Process Management, Software related to solar EPC company for PV design, project management, procurement, monitoring, Solar Project Management, Advisory on policy and regulation related to renewable energy, Transactional Advisory on transformation of companies, cities and states to renewables, E-commerce for solar products, Drone Surveys, Automation, Development of Solar PV Power plant.
Promoters hold 36% of the share and the rest 64% are public float. The company has no FII and DII investments yet. The company has reported impressive performance on a yearly basis. The company’s revenue grew 21% YoY from Rs. 17.3 crore in FY22 to Rs. 20.9 crore in FY23. Net profits saw significant growth of 100% from Rs. 0.8 crore to Rs. 1.6 crore; indicating a margin expansion of 300 bps.
Written by Sandeep R
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