Green Energy stock an integrated solar energy solutions provider engaged in offering EPC and O&M services for power plants, solar systems, pumping systems, and many others hit a 5 percent upper circuit in the day’s trade following capacity expansion plans for solar panels manufacturing.
Price Action
With a market capitalization of Rs. 1,251 Crores, the shares of Ganesh Green Bharat Limited hit a 5 percent upper circuit at Rs. 504.65 per equity share, from its previous day’s close price of Rs. 480.65.
What Happened
Ganesh Green Bharat Limited has announced that it is going to utilize a sum of Rs. 11.51 Crores from its IPO funds for funding capital expenditure towards the installation of additional plant and machinery.
It plans to increase its manufacturing capacity from 236 MW to 750 MW by modernizing and upgrading machines and importing new machinery and equipment for the manufacturing of PV modules (Solar panels). This capacity addition is expected to be completed before December 31, 2024, with an investment of ~Rs. 19 Crores
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About the Company
Ganesh Green Bharat Limited is an integrated solar energy solutions provider engaged in offering EPC and O&M services for power plants, solar systems, pumping systems, water supply systems, solar home lights, street lights, and high mast lighting,
Financials and Ratios
Its revenue from operations grew by 89 percent from Rs. 90 Crores in FY23 to Rs. 170 Crores in FY24, accompanied by profits of Rs. 8 Crores to Rs. 22 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 43 percent, and a Return on capital employed (ROCE) of 38.5 percent. It has reported a debt-to-equity ratio of 0.94.
Written by: Bharath K.S
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