Shares of this microcap company jumped upto 5 percent in Thursday’s trading session after receiving an order from Gujarat Urban Development Company. The shares have delivered a multibagger return of 135 percent to its shareholders in one year.
With a market capitalization of Rs. 154 crores, the shares of Ahasolar Technologies Ltd started Thursday’s trading session on a lower note at Rs. 510.05 compared to its previous close of Rs. 525.95. During the trading session, the shares hit a high of Rs. 535, gaining around 5 percent and are currently hitting a 5 percent lower circuit at Rs. 499.70 apiece.
According to the exchange filing, the company received a work order for consultancy services for 148 Locations for the Preparation of Pre a feasibility report including a site survey, technical analysis and financial analysis for Grid connected Solar Photovoltaic Projects at Various locations in Gujarat from Gujarat Urban Development Company Limited worth Rs. 37 lakhs.
Coming onto the company’s financial statements, the revenue zoomed by 21 percent from Rs. 17.30 crores during FY21-22 to Rs. 20.87 crores in FY22-23. In addition, the net profits magnified by 103 percent from Rs. 79 lakhs to Rs. 1.60 crores during the same timeframe.
Earlier, on February 15, 2024, the company received a work order for consultancy services for the preparation of a feasibility report for the 300 X 2 MW Wind Project from Hindustan Petroleum Corporation Limited. The whole Consultancy Service is priced at around Rs. 14 lakhs.
Looking at the company’s important financial ratios, the return on equity was recorded at 65.71 percent during FY22-23 and the return on capital employed stood at 56.63 percent. Furthermore, the net profit margin was at 7.67 percent during FY22-23.
According to the latest shareholding pattern, the Promoters have 36.95 percent of stakes and the remaining 63.04 percent of shares are with the retail investors.
Headquartered in Gujarat, Ahasolar Technologies was incorporated in 2017. It is a renewable energy technology company that specializes in solar energy solutions. The company operates in the space of climate change, renewable energy, and digital technology.
Written By Vaibhav Patil
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