Shares of microcap company clocked 5 percent lower circuit in Thursday’s trading session despite receiving an order from the Government of West Bengal. In one month the shares have delivered a multibagger return of 198 percent to its investors.
With a market capitalisation of 150 crores, the shares of Agni Green Power Ltd started Thursday’s trading session on a higher note at Rs. 84.70 compared to its previous close of Rs. 80.70. During the trading session, the shares hit a lower circuit at Rs. 76.70 apiece.
According to the exchange filing published by the company, the WBSEDCL a government of West Bengal enterprise had placed a work order with the company for the supply, installation, operation and management of an Electric Vehicle Charging Station or Battery Swapping station at WBSEDCL’s owned land on revenue sharing basis at their cost.
Furthermore, they mentioned that this will enable the company to be recognised as a vendor for installing and commissioning EV Charging stations at different housing societies. Further, it will help to enter into the emerging EV charging market.
Earlier, Agni Green Power Limited received a work order worth Rs. 5.64 crores from Subhasree Projects Private Limited for design and engineering, testing, installation, and commissioning and 5 years of comprehensive maintenance for grid-connected rooftop Solar power plants.
Coming onto the company’s financial statement, the revenue decreased by 18 percent from Rs. 17.36 crores during H2FY22 to Rs. 14.26 crores in H1FY23. In addition, the net profits declined by 95 percent from Rs. 2.53 crores to Rs. 12 lakhs during the same period.
As of May 2023, the order book of Agni Green Power Ltd. for FY23 was worth over Rs. 5 billion. The company specializes in providing complete turn-key solar PV power plant solutions, with services including solar PV installation and commissioning, solar module manufacturing, operations and maintenance, and engineering, procurement, and construction services.
Headquartered in Kolkata, Agni Green Power was incorporated in 1995, Agni Green Power Ltd is in the business of execution of turn-key Solar PV Power Plant projects. It provides EPC and O&M services to clients.
Written By Vaibhav Patil
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