The shares of solar energy solution providers gained up to 3 percent after the company received significant order worth Rs 65 lacs under Muft Bijli Yojana.
With a market capitalization of Rs 107.88 crore, the shares of Ahasolar Technologies Ltd were trading at Rs 793.85 per share, increasing around 1.37 percent as compared to the previous closing price of Rs 783.10 apiece.
Reason for Rise:-
The shares of the company have seen bullish movement after Ahasolar Technologies Ltd received significant work order from REC Ltd for technical assistance for IT support for the development of National Portal under PM Surya Ghar: Muft Bijli Scheme including grievance management support, the order is valued at Rs 65 lacs.
Financial Analysis:-
Looking forward to the company’s financials, Ahasolar Technologies Ltd.’s revenue magnified by 126 percent from Rs 12.89 Crore in H1FY24 to 29.16 Crore in H2FY24. During the same period, net profits zoomed by 205 percent from a loss of Rs 0.77 crore to a profit of Rs 0.81 crore.
Order Book:-
According to the press release, as of March 31, 2024, Ahasolar Technologies Ltd’s total order book stands at Rs 4,176 Lakhs. This order book is a mix of orders from private, and public sector customers and development corporations, some of which are multi-year orders.
Technological Advancements & Partnerships:-
The company has secured significant consultancy contracts, including an ₹8 crore project with the Gujarat Energy Development Agency for feasibility studies related to solar projects. Such contracts are expected to enhance Ahasolar’s reputation and operational reach within the sector.
Ahasolar is advancing its digital platform to facilitate solar loans via partnerships with financial institutions, enhancing access to financing for solar projects. Concurrently, investments are being made to improve software for solar PV installers and government entities, boosting efficiency and customer satisfaction.
Customer Base:-
The company 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.
Shareholding pattern:-
In the company’s recent shareholding pattern, the Promoters of the company own 36.95 percent
while Retail shareholders own a 63.05 percent stake in the company, and Foreign Institutional Investors own a 0 percent stake.
Company profile:-
Ahasolar Technologies Limited is a software-as-a-service (SaaS) platform that helps solar firms streamline operations, design photovoltaic (PV), manage projects, and monitor generation. It also includes an integrated marketplace that connects demand and supply digitally.
Written by:- Abhishek 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.
