Micro-cap stock engaged in providing SaaS-based solutions for well-known players like Adani Renewables, BPCL, Asian Development Bank and many more hit a 5 percent upper circuit upon receiving a work order from Ernst & Young (EY).
In the day’s trade, the shares of Ahasolar Technologies Limited hit a 5 percent upper circuit at Rs. 350.55, from its previous day’s close price of Rs. 333.90 and its market capitalization is Rs. 108 Crores.
Ahasolar Technologies Limited has received a work order worth Rs. 60 Lakhs from Ernst and Young LLP for providing professional services for solar and New & innovative solar application content development and capacity building for multiple states across India.
Ahasolar Technologies Limited is engaged in the business of providing integrated technology solar IT solutions like software-as-a-service (SaaS) for solar companies, development companies, and many more to undertake solar projects and or anything related to it.
It has 3 business segments i.e., Software for Solar PV Installers and Government Agencies, Advisory and Technical Consultancy Services for the development of Solar Power Plants , providing a Marketplace for Solar PV Installers and Manufacturers that has a pan-India presence making an Impact in the Solar Ecosystem.
It has a strong customer base that involves government institutions and well-known players like, Adani Renewables, Asian Development Bank, BPCL, Deloitte, Coal India, EY, and many more.
Its revenue from operations grew 22.83 percent from Rs. 17.13 Crores in FY22 to Rs. 21.04 Crores in FY23, accompanied by increasing profits of Rs. 0.69 Crore to Rs. 1.76 Crore.
It has reported a return on equity (ROE) of 72.92 percent and a return on capital employed (ROCE) of 63.94 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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