The shares of this small-cap company gained attention on Friday after its wholly owned subsidiary was awarded with a 45MW Solar Plant project from Maharashtra State Electricity Distribution Company Ltd. to enable feeder-level solarisation.
Stock Performance
With a market capitalization of Rs 10,256.30 crore, Choice International Ltd jumped 3 percent in Friday’s trading session to a high of Rs 517.80 per share compared to its previous closing price of Rs 504.75 per share. The stock retraced from its day’s high and was trading at Rs 512 which is over 1 percent higher than the previous closing price.
What Happened
Choice Consultancy Services Pvt. Ltd. (CCSPL), a wholly-owned subsidiary of Choice International Ltd, has secured a 45 MW (AC) solar power plant project from Maharashtra State Electricity Distribution Company Ltd under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. The project intends to enable feeder-level solarisation in the state.
As the strategic consulting partner, Choice will deliver end-to-end advisory services, such as project structuring, managing compliance, and execution oversight across 18 substations in Maharashtra.
They will also supervise the installation of 11kV or 22kV transmission lines, along with testing and commissioning.This project is expected to generate a revenue of approximately Rs 700 crores, creating lasting value for rural communities.
Management Commentary
Arun Poddar, CEO of Choice International Ltd, said ” This project underscores our unwavering commitment to renewable energy and sustainable development. We are proud to contribute to Maharashtra’s clean energy goals and play an active role in India’s transition to a greener future”
About Choice Consultancy Services
Choice Consultancy Services Private Limited (CCSPL), a wholly-owned subsidiary of Choice International Ltd, is a consulting firm that focuses on government advisory services across diverse sectors. Their services include Detailed Project Reports (DPRs), efficient Project Monitoring Services, Revenue Augmentation strategies and Process Automation solutions.
Financial Performance
When looking at the financial statements, Choice International reported a slight increase in its revenue from Rs 207 crore to Rs 209 crore in Q3 FY24-25. This was accompanied by a 23 percent decline in net profits from Rs 40 crore to Rs 31 crore during the same period.
Written by Shwetha Sairam
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