The shares of this midcap company hit 5 percent upper circuit of Rs 442.25 per share after the company received a new order from Hindustan Petroleum Corporation Limited worth Rs 29 lacs.
Ahasolar Technologies Ltd has a market capitalization of Rs 143.13 crore, the shares were trading at Rs 464.35 per share, increasing around 5 percent as compared to the previous closing price of Rs 442.25 apiece.
Reason for rise:-
According to the company filing, Ahasolar Technologies Ltd received a new order from Hindustan Petroleum Corporation Limited worth Rs 29 lacs for Project Management Services for Solar Plants in Gujarat and Site Supervision Services. The time period to execute the contract is one year.
Financial Analysis:-
Looking forward to the company’s financials, Ahasolar Technologies Ltd.’s revenue magnified by 126 percent from Rs 12.89 Crore in H1FY24 to 29.16 Crore in H2FY24. During the same period, net profits zoomed by 205 percent from a loss of Rs 0.77 crore to a profit of Rs 0.81 crore.
Customer Base:-
The company 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.
Ratio analysis:-
The company’s critical ratios show that the return on equity decreased from 159 percent in FY21-22 to 65.71 percent in FY22-23, while the return on capital employed decreased from 120 percent to 56.53 percent. The net profit margin (NPM) for fiscal year 22-23 is 7.67 percent.
Shareholding pattern:-
In the company’s recent shareholding pattern, the Promoters of the company own 36.95 percent while Retail shareholders own a 63.05 percent stake in the company, and Foreign Institutional Investors own a 0 percent stake.
Company profile:-
Ahasolar Technologies Limited is a software-as-a-service (SaaS) platform that helps solar firms streamline operations, design photovoltaic (PV), manage projects, and monitor generation. It also includes an integrated marketplace that connects demand and supply digitally.
Written by:- Abhishek Singh
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