Solar Energy stock engaged in providing integrated engineering, procurement, construction, and commissioning services for solar, wind energy, and others jumped upto 6 percent in the day’s trade upon receiving a new work order worth Rs. 14 Crores.
Price Action
With a market capitalization of Rs. 410 Crores, the shares of Winsol Engineers Limited were trading at Rs. 355 per equity share, up 4 percent from its previous day’s close price of Rs. 340.75.
What Happened
Winsol Engineers Limited has received a new work order from Sarjan Realities Private Limited for the supply of materials including Packing, forwarding, Freight, and Transit Insurance on Delivery at place (DAP) basis for establishing a 400KV 17 Kms of Single, Double, and Multi-Circuit Transmission line Package for PSS 10, 11 & others of Khavda, Gujarat for a consideration of Rs. 3 Crores.
It has received another work order worth Rs. 10.93 Crores for complete Erection, testing, and commissioning in all respects including civil works on BOQ Basis for establishing 400KV 17 Kms of Single, Double, and Multi-Circuit Transmission line Package at Khavda, Gujarat. Both work orders shall be completed within 6 months.
About the Company
Winsol Engineers Limited provides integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions for both solar and wind power generation firms. Its core services for BoP Solutions include foundation work, substation civil and electrical work, and right-of-way services.
Winsol Engineers Limited has been executing various projects on a Turnkey basis for various clients including Adani Green Energy, Suzlon, Powerica Limited, KP Energy Limited, and many others.
As of April 2024, it has more than 41 major ongoing projects with a total value of approximately Rs. 119.53 Crores and As of March 31, 2024, invoices totaling more than Rs. 21.55 Crores have been booked, leaving an unexecuted or unbilled order book of Rs. 98.37 Crores.
Financials & Ratios
Its Revenue from operations grew by 14.94 percent YoY from Rs. 65.39 Crores in FY23 to Rs. 75.16 Crores in FY24, accompanied by profits of Rs. 5.18 Crores to Rs. 8.68 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 51.65 percent and a return on capital employed (ROCE) of 66.81 percent. It has reported a high debt-to-equity ratio of 0.56.
Written by: Bharath K.S
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