On Monday, the share price of a microcap company hit its upper circuit of 20 percent to Rs 260.80 from its previous close of Rs 217.35 after the company received an order worth Rs 55 Lakhs.
According to Ahasolar Technologies Ltd, the company has received a Contract for the Development and Maintenance of the RE Portal for Processing Applications of Solar, Wind, and Hybrid (Solar-Wind) and Integration with the Existing Solar Rooftop Portal from Gujarat Energy Development Agency, Gandhinagar.
The entire Consultancy Service is priced at around Rs 55 lakhs, and the order is to be completed in one year.
According to the Ahasolar Technologies Ltd report, the net revenue increased by 30 percent year over year, from Rs 9.84 crore in Q2FY23 to Rs 12.84 crore in Q2FY24. Their revenue rose by 16.5 percent sequentially from Rs 11.02 crore in Q1FY24 to the current levels.
However, the net profit decreased by 575 percent year over year, from a net profit of Rs 0.16 crore in Q2FY23 to a net loss of Rs 0.76 crore in Q2FY24. Their net profit fell by 153 percent sequentially from a net profit of Rs 1.43 crore in Q1FY24 to the current levels.
Ahasolar Technologies is a microcap company with a market capitalization of Rs 80 crore. The share price of the company rose to 22.3 percent from the date of listing on July 2023.
Ahasolar Technologies Ltd has a zero debt-to-equity ratio, a return on equity of 73 percent, and a return on capital employed of 64 percent, also the company has a good current ratio of 3.9 and a quick ratio of 3.9.
The company promoter holds 37 percent of the stake in the company and the general public holds 63 percent of the company stake.
AHAsolar Technologies Limited is the driving force behind a remarkable transformation in the distributed solar PV space. AHAsolar, which began as a startup in July 2017, has grown into a profitable company that has left an indelible mark on the industry.
Written by Sriram KV
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