Green Energy stock engaged in manufacturing solar photovoltaic modules and providing turnkey solar solutions jumps 4 percent in the day’s trade upon receiving multiple work orders worth Rs. 13.40 Crores.
Price Action
With a market capitalization of Rs. 1248 Crores, the shares of Solex Energy Limited were trading at Rs. 1,560 per equity share, up 4 percent from its previous day’s close price of Rs. 1,502.25.
What Happened
Solex Energy Limited has received a new work order from the District Panchayat Raj Officer, Patna for providing comprehensive maintenance including a remote monitoring system of the Smart Solar Street Light System for a consideration of Rs. 9.84 Crores.
In addition, it has received a second work order from Apar Industries Limited for a 1,217 kw Solar Roof Mount Power Plant for a consideration of Rs. 3.53 Crores and the work should be completed within 6 months.
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About the Company
Solex Energy Limited is engaged in manufacturing of solar photovoltaic modules and providing turnkey solar solutions across different segments, such as solar power plants, solar water pumps, utility-scale ground-mounted solar power plants, and many others
Financials and Ratios
Its revenue from operations grew by 127 percent from Rs. 161 Crores in FY23 to Rs. 366 Crores in FY24, accompanied by profits of Rs. 3 Crores to Rs. 9 Crores.
In terms of Return ratios, it has delivered a return on equity(ROE) of 23.2 percent and a return on capital employed (ROCE) of 21.3 percent. It has maintained a debt-to-equity ratio of 2.08
Written by: Bharath K.S
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