The shares of the Penny stock specializing in providing integrated solar information technology (IT) solutions are in focus upon receiving a work order worth Rs. 1 crore from Gujarat Urban Development Company Limited.
Price action
With a market capitalization of Rs. 27.67 crores on Monday, the shares of Ahasolar Technologies Limited hit 5 percent lower circuit, making a low of Rs. 89.78 per share compared to its previous closing price of Rs. 94.50 per share.
What Happened
Ahasolar Technologies Limited, engaged in providing integrated solar information technology (IT) solutions, has received a new work order from Gujarat Urban Development Company Limited (GUDA) for consultancy services related to setting up Grid-connected Solar Photovoltaic Projects in Gujarat. The total value of the consultancy contract is approximately Rs. 1 crore, and the project is expected to be completed over 5 years.
The scope of services includes preparation of detailed project reports, assistance in procurement, proof checking and certification of GTP/QAP, design and drawings, and final recommendations for PMC certified EPC contractor’s bills.
About the Company
Ahasolar Technologies Limited specializes in CleanTech solutions to facilitate the transition to renewable energy through digital transformation. The company offers Software as a Service (SaaS) products for solar companies, encompassing PV design, project management, and generation monitoring, along with an integrated marketplace connecting demand and supply.
Marquee Clients
The major clients of the company include L&T, BPCL, Coal India Limited, Tata Steel Ltd, Torrent Power, UPNEDA, KPMG, Deloitte, and many more.
Key Insights
The company has a low debt-to-equity ratio of 0.05, indicating strong financial stability. Additionally, it has shown a solid average Return on Equity (ROE) of 22.04 percent and an average Return on Capital Employed (ROCE) of 19.04 percent over the past three years, reflecting strong profitability and efficient use of capital.
Financials
The company’s revenue rose by 50 percent from Rs. 12.89 crore to Rs. 23.07 crore in H1FY24-25. Meanwhile, the Net profit went from a loss of Rs. 0.77 crore to a loss of Rs. 2.88 crore during the same period.
Written by Sridhar J
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