This MicroCap stock price hit an upper circuit of 5 percent after receiving a work order for a 300×2 wind project from Hindustan Petroleum Corporation Ltd. (HPCL).
With a market capitalization of ₹146.87 crores, the stock price of Ahasolar Technologies Ltd. rose by 5 percent from its previous close of ₹453.85 per share to a 52-week high of ₹476.50 per share.
According to the company’s exchange filing, Ahasolar Technologies Ltd. received a work order for consultancy services to prepare a feasibility report for a 300 x 2 MW wind project from Hindustan Petroleum Corporation Ltd. (HPCL). The order size is ₹14 lakhs, and it must be executed within 2 months.
On a year-over-year basis, the revenue from operations of Ahasolar Technologies Ltd. reported an increase of 31 percent from ₹9.85 crores in Q2 FY23 to ₹12.89 crores in Q2 FY24. In the same period, its net profit was ₹0.16 in Q2 FY23, whereas it turned out to be a net loss of ₹0.77 in Q2 FY24.
According to the presentation for August 2023, the company has enabled 4100+ solar installers under the Ahasolar platform and has 20+ ongoing projects. As per the FY23 annual reports, their core business is categorized into solar software services, solar marketplaces, solar advisory and consultancy services, and the development of solar power plants.
The shareholder pattern shows that the promoters hold 36.95 percent, and the public holds the remaining 63.05 percent.
The company has yielded a multibagger return of 124 percent over the past year. Therefore, an initial investment of ₹1,00,000 would now be valued at ₹2,24,000.
Ahasolar Technologies Ltd., an e-commerce sector company founded as a start-up in 2017, is engaged in the business of clean technology, enabling energy transition through digital transformation. Ahasolar, with the collaboration of government entities, has transformed the distributed solar space, solar installers, and manufacturers into a cohesive digital framework.
Written by Praveen R
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