Shares of this microcap company is in focus after receiving an order from ONGC for rooftop solar. The shares have delivered a multibagger return of 180 percent returns to its shareholders in just one month.
With a market capitalization of Rs. 141 crores, shares of Agni Green Power Ltd started Friday’s trading session, on a lower note at Rs. 73.15 compared to its previous close of Rs. 75.70. During the trading session, the shares clocked 5 percent lower circuit at Rs. 71.95 apiece.
The company in an exchange filing announced that it had received a work order from ONGC Deendayal Urja Bhawan, New Delhi, for design and engineering, testing, installation and commissioning and 5 years of comprehensive maintenance for a 410 KWp grid connected rooftop solar photovoltaic plant at the premises situated at Deendayal Urja Bhawan for worth Rs. 43.90 lakhs.
Coming onto the company’s financial statements, the revenue decreased by 18 percent from Rs. 17.36 crores during H2 FY23 to Rs. 14.26 crores in H1FY24. On the other hand, the net profits declined by 95 percent from Rs. 2.53 crores to Rs. 12 lakhs during the same period.
Previously, the company received a work order for the supply, installation, operation and management of an Electric Vehicle Charging Station or Battery Swapping station at WBSEDCL’s owned land on a revenue-sharing basis from the West Bengal Government. This order will help the company to enter into the emerging EV charging market.
As of May 2023, the order book of Agni Green Power Ltd for FY23 was worth over Rs. 5 billion. The company specializes in providing complete turn-key solar PV power plant solutions, with services including solar PV installation and commissioning, solar module manufacturing, operations and maintenance, and engineering, procurement, and construction services.
Headquartered in Kolkata, Agni Green Power was incorporated in 1995, Agni Green Power Ltd is in the business of execution of turn-key Solar PV Power Plant projects. It provides EPC and O&M services to clients.
Written By Vaibhav Patil
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