The shares of the solar pumping system manufacturer gained up to 3 percent after the company received a letter of award from Tripura Renewable Energy Development Agency (TREDA) worth Rs 6.21 crore.
With a market capitalization of Rs 729.47 crore, the shares of Sahaj Solar Ltd were trading at Rs 664 per share, increasing around 2 percent as compared to the previous closing price of Rs 652.65 apiece.
Reason for rise:-
The shares of the company have seen positive movement after Sahaj Solar Ltd received a letter of award from Tripura Renewable Energy Development Agency (TREDA) for Design, Manufacture, Supply, Transport, Installation, Testing, Commissioning, and Maintenance for Off-grid Solar Photovoltaic Water Pumping System (SPWPS) of 1-10 HP (in selected district to beneficiary farmers in Tripura) on PAN India basis. This order is valued at Rs 6.21 crore.
Financial Condition:-
Looking forward to the company’s financial performance, revenue magnified by 9 percent from Rs 185 crore in FY22-23 to Rs 201 crore in FY23-24, during the same period, net profit magnified multifold times by 116 percent from Rs 6 crore to Rs 13 crore.
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Manufacturing facility:-
The company’s PV module production plant is located in Bavla, Ahmedabad, Gujarat. It covers an area of 2,883.77 square meters and includes a structure of 2445.5 square meters that has both manufacturing and office space. The facility has a capacity of 100 megawatts. The company’s automated manufacturing plant produces mono and polycrystalline PV modules for a variety of solar projects in India and beyond.
Ratio analysis:-
The company’s critical ratios show that the return on equity zoomed from 10.18 percent in FY21-22 to 36.86 percent in FY22-23, while the return on capital employed magnified from 18.34 percent to 50.23 percent. The net profit margin (NPM) for fiscal year 23-24 is 3.17 percent.
Company snapshot:-
Sahaj Solar works in the solar power industry, offering both manufacturing and service solutions. The firm specializes in three major areas: PV module production, solar pumping systems, and engineering, procurement, and construction (EPC) services. The company’s PV module production unit is located in Bavla, Ahmedabad, Gujarat.
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Written by:- Abhishek Singh
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