Green Energy stock engaged in offering a wide range of power-related solutions such as manufacturing Solar Inverters, Online UPS Systems, EV Chargers, Lead Acid Batteries, and many more jumped 4 percent in the day’s trade upon announcing the rights issue of equity shares of the company in the ratio of 1:2.
With a market capitalization of Rs. 106 Crores, the shares of Sungarner Energies Limited were trading at Rs. 456, up 4.59 percent from its previous day’s close price of Rs. 436.
The Board of Directors of Sungarner Energies Limited has considered and approved raising funds for an amount not exceeding Rs. 31 Crores through issuing Equity Shares by way of Rights Issue to the eligible equity shareholders of the Company as on Record date in the ratio of 1:2 where One equity share of the company shall be given for every Two existing shares held.
In Addition to this, it had recently received a work order worth Rs. 4.25 Crores from Ampersand Group’s Education arm Eduspark International Pvt. Ltd for the Installation of Solar Power Plant for its various school locations in Maharashtra, Gujarat, and Karnataka.
Sungarner Energies Limited is engaged in offering a wide range of power-related solutions such as manufacturing Solar Inverters, Online UPS Systems, EV Chargers, Lead Acid Batteries, and many more. It also provides various kinds of services such as Solar Power Plants Projects, Solar Power Generation Systems, Operation & maintenance, and others
Its revenue from operations grew by 118 percent from Rs. 7.94 Crores in FY23 to Rs. 17.32 Crores in FY24, accompanied by profits of Rs. 0.58 Crores to Rs. 0.74 Crores.
It has reported a return on equity (ROE) of 31 percent, a return on capital employed(ROCE) of 26.4, and a low debt-to-equity ratio of 0.16.
Written by: Bharath K.S
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