Shares of this microcap company clocked a 5 percent lower circuit in Wednesday’s trading session despite receiving an order from Paradip Port Authority worth Rs. 47 lakhs. The shares have delivered around 50 percent to its shareholders in one year.
With a market capitalization of Rs. 100 crores, the shares of Ahasolar Technologies Ltd started on a lower note at Rs. 326 compared to its previous close of Rs. 338.70. During the trading session, the shares hit a lower circuit at Rs. 321.80 apiece.
According to the exchange filing, the company received a work order for a Project Management Consultant for undertaking Project Management Consultancy (PMC) services towards setting up a 10MW Solar Power Plant from Paradip Port Authority, Odisha and the whole consultancy service is priced at around Rs. 47 lakhs.
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.
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.
Earlier, the company received a work order for consultancy services for Site Supervision & PMC services for Solar Plant in Maharashtra from Hindustan Petroleum Corporation Limited. The whole Consultancy Service is priced at around Rs. 25 lakhs.
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.
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
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
