Green energy stock hits 5 percent upper circuit reaching Rs.503.2 per share after securing orders worth Rs.27 crore for supplying solar products.
Price Variation
In Monday’s trading session, the stock price of Australian Premium Solar (India) Ltd. hit a 5 percent upper circuit reaching Rs.503.2 per share from its previous close of Rs.479.25 apiece.
What is the news
Australian Premium Solar (India) Ltd. engaged in manufacturing solar modules and providing engineering, procurement, and construction (EPC) services secured two work orders from two companies, worth nearly Rs.27 crore.
On 9th August, Australian Premium Solar (India) Ltd. received an order of Rs.11,35,14,150 from a client Company for supply of various Solar Pv Module. This order is scheduled for execution within 40-50 days.
On 10th August, the company received another order worth Rs.15,47,84,000 from a client company for supply of Solar Products like Mono Panels and Topcon BF 580 WP (Watt Peak). The order is to be executed within a time period of 45-60 days.
Financials
Australian Premium Solar (India) Ltd. reports financial statements on a half-yearly basis. Profit After Tax (PAT) of Australian Premium Solar (India) Ltd. surged remarkably 100 percent to Rs.4 crore in H2FY24, compared to Rs.2 crore in the of H2FY23 and surged 33.33 percent from Rs.3 crore in H1FY24.
The company was listed on the NSE on 18th January 2024, and has generated returns of over 378 percent within eight months of listing.
The Australian Premium Solar facility is spread over 25,375 square meters and has a production capacity for 200 MW per annum. The company has implemented more than 10,000 residential rooftop systems and delivered more than 2,300 agricultural solar water pumps.
Shareholding Pattern
According to the March 2024 shareholding pattern, the promoters of Australian Premium Solar (India) Ltd. hold a majority stake of 73.64 percent.Foreign Institutional Investors and Domestic Institutional Investors hold 1.42 percent and 3.44 percent, respectively. Retail investors, including individual investors and others, hold 21.49 percent of the company.
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About company
Australian Premium Solar (India) Limited is a solar energy equipment supplier, headquartered in Sabarkantha, Gujarat. The company specialises in manufacturing both Monocrystalline and Polycrystalline Solar Panels as part of its Photovoltaic Module (PV) portfolio.
Written by – Siddesh S Raskar
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