During Wednesday’s trading session, the shares of this micro-cap company surged nearly 5 percent to Rs. 226.45 on BSE, after the company announced securing a 32MW solar project from Maharashtra State Electricity Distribution Company Limited (MSEDCL).
With a market cap of Rs. 972.8 crores, at 01:46 p.m., the shares of Bhageria Industries Limited were trading in the green at Rs. 222.9, up by nearly 3.3 percent, compared to its previous closing price of Rs. 215.7.
What’s the news:
Bhageria Industries Limited received a Letter of Award (LoA) for Solar power developer (SPD) for Solar Photovoltaic power generating stations, with a total capacity of 32 MW.
This initiative falls under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, aimed at promoting feeder-level solarisation in alignment with Component C of the PM-KUSUM Scheme.
According to the latest regulatory filings with the stock exchanges, the company received this order from Maharashtra State Electricity Distribution Company Limited (MSEDCL), which shall purchase the power generated from the project for 25 years, beginning from the scheduled commercial operation date.
Under the terms of the order, Bhageria Industries will be responsible for the generation of power.
Financials:
The company experienced a significant growth in its revenue from operations, showing a year-on-year increase of around 15.4 percent from Rs. 97.5 crores in Q1 FY24 to Rs. 112.5 crores in Q1 FY25.
Similarly, its net profit increased during the same period from Rs. 1.3 crores to Rs. 5.8 crores, indicating a rise of nearly 346.2 percent YoY.
Stock Performance:
The stock has delivered positive returns of nearly 40.7 per cent of returns in one year, and around 19.5 percent returns in the last six months. So far in 2024, the shares of Bhageria Industries have given positive returns of about 35.3 percent.
About the company:
Incorporated in 1989, Bhageria Industries Limited is engaged in the business of manufacturing and trading of dyes & dyes intermediate, chemicals and generation and distribution of solar power.
Written by Shivani Singh
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