Green Energy stock which is an integrated solar energy solutions provider engaged in offering EPC and O&M services for power plants, solar systems, pumping systems, and many others jumped 3 percent in the day’s trade upon receiving a new work order worth Rs. 9 Crores.
Price Action
With a market capitalization of Rs. 1,106 Crores, the shares of Ganesh Green Bharat Limited were trading at Rs. 446 per equity share, up 1.28 percent from its previous day’s close price of Rs. 440.30.
What Happened
Ganesh Green Bharat Limited has received a new work order from Hexatron Industries Limited for the Supply of 7.2 MW of Mono Crystalline Modules (Solar Module) to solar park locations at Tandaliya and Lathidad, Gujarat for a consideration of Rs. 8.99 Crores
In addition, 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
About the Company
Ganesh Green Bharat Limited is an integrated solar energy solutions provider specializing in Solar PV Module manufacturing, Solar Systems and Allied Services, Electrical Contracting, and Water Supply Scheme Projects. It 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.
Its segment-wise revenue mix consists of Solar PV Modules 53 percent, Electrical Contracting Services 30 percent, Solar System & Allied Services 11 percent, and Water Supply Scheme Projects 6 percent. It has a strong order book of Rs. 327.44 Crores.
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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