The shares of solar energy solution providers gained up to 3 percent after the company bagged a significant work order from Coal India Limited worth Rs 110 Lacs.
With a market capitalization of Rs 104.49 crore, the shares of Ahasolar Technologies Ltd were trading at Rs 339.00 per share, increasing around 1 percent as compared to the previous closing price of Rs 340.95 apiece.
Reason for Rise:-
According to the company filing, Ahasolar Technologies Ltd bagged a significant work order from Coal India Limited for the work of a 300 MW Solar Photovoltaic Power Plant located at GIPCL’s Solar Park, Khavda, Gujarat. This project is valued at Rs 110 Lacs. this project should be completed within 27 months.
Financial Analysis:-
Looking forward to the company’s financials, Ahasolar Technologies Ltd.’s revenue magnified by 126 percent from Rs 12.89 Crore in H1FY24 to 29.16 Crore in H2FY24. During the same period, net profits zoomed by 205 percent from a loss of Rs 0.77 crore to a profit of Rs 0.81 crore.
Order Book:-
According to the press release, as of March 31, 2024, Ahasolar Technologies Ltd’s total order book stands at Rs 4,176 Lakhs. This order book is a mix of orders from private, and public sector customers and development corporations, some of which are multi-year orders
Technological Advancements & Partnerships:-
The company has secured significant consultancy contracts, including an ₹8 crore project with the Gujarat Energy Development Agency for feasibility studies related to solar projects. Such contracts are expected to enhance Ahasolar’s reputation and operational reach within the sector
Ahasolar is advancing its digital platform to facilitate solar loans via partnerships with financial institutions, enhancing access to financing for solar projects. Concurrently, investments are being made to improve software for solar PV installers and government entities, boosting efficiency and customer satisfaction.
Customer Base:-
The company has a strong customer base that involves government institutions and well-known players like, Adani Renewables, Asian Development Bank, BPCL, Deloitte, Coal India, EY, and many more.
Ratio analysis:-
The company’s critical ratios show that the return on equity decreased from 159 percent in FY21-22 to 65.71 percent in FY22-23, while the return on capital employed decreased from 120 percent to 56.53 percent. The net profit margin (NPM) for fiscal year 22-23 is 7.67 percent.
Shareholding pattern:-
In the company’s recent shareholding pattern, the Promoters of the company own 36.95 percent while Retail shareholders own a 63.05 percent stake in the company, and Foreign Institutional Investors own a 0 percent stake.
Company profile:-
Ahasolar Technologies Limited is a software-as-a-service (SaaS) platform that helps solar firms streamline operations, design photovoltaic (PV), manage projects, and monitor generation. It also includes an integrated marketplace that connects demand and supply digitally.
Written by:- Abhishek Singh
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