Green Energy stock engaged in providing SaaS-based solutions for well-known players like Adani Renewables, BPCL, Asian Development Bank, and many more, to undertake solar projects jumped 4 percent in the day’s trade upon receiving a work order worth Rs. 40 Lakhs from HPCL.
Price Action
With a market capitalization of Rs. 109 Crores, the shares of Ahasolar Technologies Limited were trading at Rs. 354 per equity share, up 1.62 percent from its previous day’s close price of Rs. 348.35.
What Happened
Ahasolar Technologies Limited has received a new work order from HPCL Renewable and Green Energy Limited for a consideration of Rs. 40 lakhs, for providing Consultancy services for DFR Floating Solar, Tender preparation and Evaluation, PMC services, and Site supervision for Nachana, HPCL Rajasthan Refinery Limited (HRRL) Pachpadra, and Vizag Refinery and the work should be executed within 16 months.
About the Company
Ahasolar Technologies Limited is engaged in the business of providing integrated technology solar IT solutions like software-as-a-service (SaaS) for solar companies, development companies, and many more to undertake solar projects and or anything related to it.
It has 3 business segments i.e., Software for Solar PV Installers and Government Agencies, Advisory and Technical Consultancy Services for the development of Solar Power Plants, providing a Marketplace for Solar PV Installers and Manufacturers that has a pan-India presence making an Impact on the Solar Ecosystem.
It has a strong customer base that involves government institutions and well-known players like, Adani Renewables, Asian Development Bank, BPCL, Deloitte, Coal India, EY, and many more.
Financials and Ratios
Its revenue from operations grew by 101 percent from Rs. 20.87 Crores in FY23 to Rs. 42.04 Crores in FY24, accompanied by profits of Rs. 1.60 Crores to Rs. 4 Lakhs.
In terms of Return ratios, it has reported a return on equity(ROE) of 1.01 percent and a return on capital employed (ROCE) of 1.51 percent. It is a debt-free company, as it has reported a debt-to-equity ratio of 0.
Written by: Bharath K.S
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