Solar Energy stock engaged in providing integrated engineering, procurement, construction, and commissioning services for solar, wind energy, and other projects jumped upto 8 percent in the day’s trade upon receiving work orders worth Rs. 48.28 Crores.
Price Action
With a market capitalization of Rs. 421 Crores, the shares of Winsol Engineers Limited were trading at Rs. 365 per equity share, up 7 percent from its previous day’s close price of Rs. 341.70.
What Happened
Winsol Engineers Limited engaged in providing integrated engineering, procurement, construction, and commissioning services for power projects has received 2 work orders from Juniper Green Energy Private Limited for a consideration of Rs. 48.28 Crores.
The first work order is for the supply of materials, EPC Work of 220 KV Single Circuit transmission line on Double Circuit Tower with AL-59 Zebra Conductor as per GETCO Design with a 120 Miron Hot Dip Galvanization Transformer on Structure Material at Wind Power Project Jam Khambaliya CTU-I-Gujarat.
The second work order is for the supply of Services as per the Confirmation Order for designing, engineering, manufacturing, assembling, inspection, installation, testing, erection, commissioning, of complete electrical, mechanical, civil, and structural works related to 220 KV Single Circuit overhead transmission line.
About the Company
Winsol Engineers Limited provides integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions for both solar and wind power generation firms. Its core services for BoP Solutions include foundation work, substation civil and electrical work, and right-of-way services.
Winsol Engineers Limited has been executing various projects on a Turnkey basis for various clients including Adani Green Energy, Suzlon, Powerica Limited, KP Energy Limited, and many others.
As of April 2024, it has more than 41 major ongoing projects with a total value of approximately Rs. 119.53 Crores and As of March 31, 2024, invoices totaling more than Rs. 21.55 Crores have been booked, leaving an unexecuted or unbilled order book of Rs. 98.37 Crores.
Financials & Ratios
Its Revenue from operations grew by 14.94 percent YoY from Rs. 65.39 Crores in FY23 to Rs. 75.16 Crores in FY24, accompanied by profits of Rs. 5.18 Crores to Rs. 8.68 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 51.65 percent and a return on capital employed (ROCE) of 66.81 percent. It has reported a debt-to-equity ratio of 0.23.
Written by: Bharath K.S
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