Shares of this solar company surged over 15 percent on Thursday after securing a Rs.33.2 crore solar project contract from the Gujarat Energy Development Agency and Corona Remedies Pvt. Ltd.
Share price movement
In Thursday’s trading session, Trom Industries Ltd shares reached an intra-day high of Rs.260.00 per share, rising 15.14 from the previous close of Rs.225.80 apiece. The shares retreated since then and closed at Rs.252.00 per share.
Contract Details
Trom Industries Ltd has secured solar project contracts worth Rs.33.10 crore, strengthening its foothold in the renewable energy sector.
These include a Rs.20.70 crore contract from Gujarat Metro Rail Corporation Ltd (GMRC) to install a 5 MW (AC) solar power system across 15 metro stations in Ahmedabad over five years, and a Rs.12.40 crore project from Corona Remedies Pvt. Ltd for a 4.25 MW DC/3.57 MW AC ground-mounted solar PV plant, set for completion within the current fiscal year.
Q2 Results
For the half-year ended September 2024, Trom Industries Ltd reported consolidated revenue of Rs.46.23 crores, marking a notable 133 percent increase from Rs.19.79 crores in Q2 FY24.
The company’s Profit After Tax (PAT) also demonstrated impressive growth, with a 109 percent year-over-year increase, reaching Rs.4.13 crores in Q2 FY25, compared to Rs.1.97 crores in the same quarter last year.
Management Commentary
Highlighting the development Managing Director of Trom Industries said “TROM continues to deliver profitable growth, leveraging optimism in the market and improved consumer demand. This remarkable growth underscores the growing market acceptance of our innovative products and services, reflecting our commitment to excellence and our strategic growth in the rapidly evolving solar market. Our results highlight the effectiveness of our innovative solutions and our dedication to meeting the increasing demand for sustainable energy.
Manufacturing Capacity
Trom Industries Ltd specializes in solar EPC services, with a focus on residential and industrial solar power solutions.
Operating from its Gandhinagar, Gujarat facility, the company manufactures solar panels, inverters, and street lights, supporting projects from 1 kW to 1 MW. Recently, Trom Industries announced a Rs.450 lakh investment to expand production capacity, addressing the rising demand for renewable energy in India.
About the Company
Based in Gandhinagar, Gujarat, Trom Industries Ltd is a solar EPC (Engineering, Procurement, and Construction) company specializing in a wide range of solar energy solutions. Founded in 2011, the company has grown to become a notable presence in the solar energy industry.
Written by – Siddesh S Raskar
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