Green Energy stock engaged in offering EPC and O&M services for power plants, solar systems, pumping systems, and many others hit a 5 percent upper circuit in the day’s trade upon receiving new work order for solar modules worth ~Rs. 79 Crores.
Price Action
With a market capitalization of Rs. 1,101 Crores, the shares of Ganesh Green Bharat Limited hit a 5 percent upper circuit in the day’s trade at Rs. 444.15 per equity share, from its previous day’s close price of Rs. 423.
What Happened
Ganesh Green Bharat Limited has received a new work order from Solberry Energy Private Limited for the supply of 50 MW of Solar PV Panel Modules for a consideration of Rs. 78.79 Crores and it is to be executed by March 2025.
About the Company
Ganesh Green Bharat Limited is an integrated solar energy solutions provider specializing in Solar PV Module manufacturing, Solar Systems and Allied Services, Electrical Contracting, and Water Supply Scheme Projects. It engaged in offering EPC and O&M services for power plants, solar systems, pumping systems, water supply systems, solar home lights, street lights, and high mast lighting.
Its segment-wise revenue mix consists of Solar PV Modules 53 percent, Electrical Contracting Services 30 percent, Solar System & Allied Services 11 percent, and Water Supply Scheme Projects 6 percent. It has a strong order book of Rs. 327.44 Crores.
Capex Plans
Ganesh Green Bharat Limited has announced plans to increase its manufacturing capacity from 750 MW to 1.1 GW by adding 350 MW Capacity, which is expected to be completed by March 25, 2025.
It involves modernization and upgradation of machines and importing new machinery and equipment for manufacturing Solar PV modules at its present facility with an investment of ~Rs. 5.52 Crores which is going to be funded by a mix of Internal Accruals and Borrowings.
Financials
Its revenue from operations grew by 134 percent from Rs. 59 Crores in H1FY24 to Rs. 138 Crores in H1FY25, accompanied by profits of Rs. 7 Crores to Rs. 13 Crores.
Written by: Bharath K.S
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