Green Energy stock engaged in the business of manufacturing solar photovoltaic (SPV) modules, generation of wind and solar power energy and many more hit a 5 percent upper circuit upon entry into a new line of business related to defence equipments.
With a market capitalization of Rs. 200 Crores, the shares of Surana Solar Limited hit a 5 percent upper circuit at Rs. 40.72, from its previous day’s close price of Rs. 38.79.
The Board of Directors of Surana Solar Limited has announced entry into a new line of business belonging to the manufacturing and trading of defense-related equipments, accessories, components, and products. At the initial stage, the company plans to invest approximately Rs. 10 Crores in the new line of business.
The expected benefits of venturing into the new line of business encompass the diversification of Revenue Streams, Increased Client Base Enhanced Market Presence, and Long-Term Growth Potential.
Surana Solar Limited is engaged in the business of manufacturing solar photovoltaic (SPV) modules, generation of wind and solar power energy, and trading of other solar-related products. It is also into the engineering, procurement, and construction (EPC) of power projects on a turnkey basis on a megawatt (MW) scale
It is involved in the areas of solar and wind power, telecommunications, metal processing, and infrastructure. Its products offering includes photovoltaic (PV) modules, solar lighting solar lanterns, and many more
Its Revenue from operations declined by 58 percent from Rs. 42.18 Crores in FY23 to Rs. 17.71 Crores in FY24, accompanied by a profit of Rs. 2.28 Crores to a loss of Rs. 1.26 Crores.
Written by: Bharath K.S
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