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Share price of this micro-cap penny stock hit 2% upper circuit to Rs. 9.07 in Wednesday’s trading session, after securing an order from U.P. Power Transmission Corporation Limited worth Rs. 2.94 crores. 

With a market capitalisation of Rs. 39.3 crore, the company has delivered positive returns of about 70.5 percent in the last one year and nearly 47.5 percent of positive returns in the last six months. So far in 2024, it has given around 24.8 percent of positive returns. 

According to the recent regulatory filings with the BSE, Sharika Enterprises Limited have received a Turnkey project from U.P. Power Transmission Corporation Limited (UPPTCL). 

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The order received by the company is for the supply and erection of outdoor equipment of 2No, 145 KV Bay at 400 KV S/S at Rasara, Ballia, Uttar Pradesh on a turnkey basis, and the order is to be executed within six months. 

Earlier on March 14th, Sharika Enterprises announced the successful completion of the supply, installation, termination, testing, and commissioning (SITC) of a 220 kV XLPE cable (1Cx400 Sq. mm) at the Naitwar Mori Hydro Power Plant (2×30 MW) in Uttar Kashi. 

The company made its Initial Public Offering (IPO) in November 2017 and received an overwhelming response, with the public offering being oversubscribed by more than 59 times. 

In terms of financials, the company’s revenue from operations increased by 111.3 percent from Rs. 11.57 crore in Q2 FY23-24 to Rs. 24.45 crore in Q3 FY23-24. 

The net profit of Sharika Enterprises is Rs. -1.88 crore in Q3 FY23-24, an increase of 0.52 percent, from a loss of Rs. 1.89 crore in Q2 FY23-24. 

Formed in 1998, Sharika Enterprises Limited is primarily engaged in the business of Management Consultancy and Project Execution Services in the power sector. 

The company’s portfolio includes a range of solar solutions such as grid-connected solar PV Systems, off-grid solutions, hybrid solutions with battery backup, battery energy storage systems, EV charging systems, real-time monitoring of solar plants, and solar street lights. 

Written by Shivani Singh

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