Shares of this microcap company locked 5 percent upper circuit in Thursday’s trading session after receiving an order for Electric Vehicles Charging Infrastructure. The shares have delivered more than 60 percent to its shareholders in one year.
Price Movement:
With a market capitalization of Rs. 107 crores, the shares of Ahasolar Technologies Ltd started Thursday’s trading session on a higher note at Rs. 340 compared to its previous close of Rs. 331.80. During the trading session, the shares hit a five percent upper circuit at Rs. 348.35 apiece.
What Happened:
Such a bullish movemnet in the share price was observed after the company in an exchange filing announced that it had received a work order for Electric Vehicles (EVs) Charging Infrastructure Planning and Development of an Online platform for the Gujarat Energy Development Agency (GEDA) from Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The whole Consultancy Service is priced at around Rs. 45 lakhs.
Financials:
Coming onto the company’s financial statements, the revenue magnified by 126 percent from Rs. 12.89 crores during H1FY24 to Rs. 29.16 crores in H2FY24. In addition, the net profits showcased a transition from a net loss of Rs. 77 lakh to a net profit of Rs. 81 lakhs during the same timeframe.
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Order Book:
As of 31st March 2024, the company’s total order book stands at Rs. 4,176 lakhs(Rs. 41.76 crores), comprising a mix of private and public sector customers as well as development corporations. Some of these orders are multi-year contracts.
Recent Development:
The company had received a work order for the development of an Intuitive Rooftop-Solar Feasibility Portal and voice assistance/Chatbot on the BYPL website from Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The whole consultancy service is priced at around Rs. 35 lakhs.
Shareholding Pattern:
According to the latest shareholding pattern, the Promoters have 36.95 percent of stakes and the remaining 63.04 percent of shares are with the retail investors.
Company Profile:
Headquartered in Gujarat, Ahasolar Technologies was incorporated in 2017. It is a renewable energy technology company that specializes in solar energy solutions. The company operates in the space of climate change, renewable energy, and digital technology.
Written By Vaibhav Patil
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