Solar stock engaged in providing engineering, procurement, and construction (EPC) services for residential, agricultural, and commercial applications jumped upto 5 percent in the day’s trade upon receiving a work order worth Rs. 14.55 Crores.
Price Action
With a market capitalization of Rs. 978 Crores, the shares of Australian Premium Solar (India) Limited were trading at Rs. 495 per equity share, down 1.4 percent from its previous day’s close price of Rs. 502.05.
What Happened
Australian Premium Solar (India) Limited has received new work from its client company for a consideration of Rs. ~14.55 Crores for the supply of Solar Panel of 535WP, 500WP, 520WP Mono DCR, and APS Invertors of 3.3kw, 4kw, 5.3kw, 8kw, 10kw, 30kw, 50kw, and 100kw.
In Addition, it had recently received a work order worth Rs. 10.68 Crores from the Jharkhand Renewable Energy Development Agency (JREDA) for the supply of a Total of 512 Nos. of Solar Water Pumping Systems (SWPS) on a turnkey basis for irrigation purposes at different districts in Jharkhand under Component- B of PM- KUSUM Scheme, Phase III, and it should be executed by October 31, 2024.
About the Company
Australian Premium Solar (India) Limited is engaged in manufacturing monocrystalline and polycrystalline solar modules and provides engineering, procurement, and construction (EPC) services for residential, agricultural, and commercial applications.
Financials and Ratios
Its revenue from operations grew by 58 percent from Rs. 95 Crores in FY23 to Rs. 150 Crores in FY24, accompanied by profits of Rs. 3 Crores to Rs. 6 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 42.5 percent and a Return on capital employed (ROCE) of 51 percent. It has reported a debt-to-equity ratio of 0.20.
Written by: Bharath K.S
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