The shares of this microcap company locked a 5 percent upper-circuit after receiving an export order for Solar LED Street Lights worth Rs. 24 crores.
Price Movement:
With a market capitalization of Rs. 18.5 crores, the shares of Bright Solar Ltd started on a flatter note at Rs. 7.05. During the trading session, the shares clocked a 5 percent upper circuit at Rs. 7.40 apiece.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received a significant purchase order from UN Missions East Africa valued at approximately Rs. 24 crores (USD 2.9 Million). The company received the order for the supply and export of Solar LED Street Lights.
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Financials:
Looking at the company’s financial statements, the revenue magnified by 1,634 percent from Rs. 52 lakhs during H1FY24 to Rs. 9.02 crores in H2FY24. On the other hand, the net losses of the company decreased from Rs. 3.10 crores to Rs. 2.90 crores during the same period.
Products:
Bright Solar Limited offers a variety of solar energy products and services, primarily focusing on solar water pumping systems, which include both DC and AC solar pumps, along with solar pumping controllers and inverters.
The company also manufactures solar panels and provides solar rooftop systems for residential and commercial use. Additionally, Bright Solar is engaged in infrastructure projects, such as rural water supply systems and engineering, procurement, and construction (EPC) services for water treatment and sewerage plants.
Furthermore, other offerings of Bright Solar include drone mapping services for agriculture and consulting services for solar energy projects, encompassing feasibility studies and project management.
Shareholding Pattern:
According to the latest shareholding pattern, the Promoters hold a modest 0.20 percent of the shares, while Retail Investors own the remaining 99.80 percent.
Company Profile:
Incorporated in 2010, Bright Solar Ltd is into assembling DC/AC Solar Pumps and Solar Pump Systems, EPC contracts of Solar Photo voltaic Water pumps, consulting Projects and tenders, Water supply and Sewerage Infra Project.
Written By Vaibhav Patil
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