Green Energy stock engaged in manufacturing solar photovoltaic modules and providing turnkey solar solutions jumps 3 percent in the day’s trade upon receiving a new work order worth RS. 10.39 Crores from Torrent Power Limited.
Price Action
With a market capitalization of Rs. 1,414 Crores, the shares of Solex Energy Limited were trading at Rs. 1,768 per equity share, up 3 percent from its previous day’s close price of Rs. 1,726.25.
What Happened
Solex Energy Limited has received a new work order from Torrent Power Limited for providing Engineering, Procurement, and Construction(EPC) services for a Rooftop Solar and Ground mount for 3075 KWp for consideration of Rs. 10.39 Crores and the work is to be completed within 31st March 2025 as per the terms of the order.
About the Company
Solex Energy Limited is engaged in the 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
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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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