On Monday’s trading session, the shares of a renewable energy solution provider company surged by 17 percent to hit a new 52-week high at Rs. 689.9 on NSE, after the company secured two orders for a total of Rs. 64.4 crores for Off-grid Solar Photovoltaic Water Pumping System (SPWPS).
At 11:13 a.m., the shares of Sahaj Solar Limited were trading in the green at Rs. 650, as against its previous closing price of Rs. 589.75, with a market cap of Rs. 714 crores.
What’s the News:
As per the latest regulatory filings with the NSE, Sahaj Solar Limited received two orders worth a total of Rs. 64.2 crores from two different entities, under Component-B of the PM-KUSUM scheme.
The company received its first Letter of Award (LoA) from Maharastra Energy Development Agency (MEDA), with an order value of around Rs. 48.22 crores.
The order is for the design, manufacture, supply, transport, installation, testing and commissioning of Off-Grid Standalone Solar Photovoltaic Water Pumping Systems on a Turnkey basis for irrigation purposes.
The company received the second Letter of Award (LoA) from Dakshin Gujarat Vij Co. Ltd. (DGVCL), with an order value of around Rs. 16.03 crores.
The order is for the design, manufacture, supply, transport, installation, testing and commissioning of Off-Grid Standalone Solar Photovoltaic Water Pumping Systems, with an execution period of up to March 2025.
Also read
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of 8.5 percent from Rs. 185.4 crores in FY22-23 to Rs. 201.2 crores in FY23-24.
Similarly, its net profit increased during the same period from Rs. 6.5 crores to Rs. 13.4 crores, indicating a growth of around 106.2 percent YoY.
About the Company:
Sahaj Solar Limited is engaged in the business of manufacturing of solar panels and is also engaged in the supply and installation of solar power generating systems such as solar rooftops, solar water pumping systems, solar streetlights, and other renewable energy devices and equipments.
Written by Shivani Singh
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.
