Green Energy stock engaged in manufacturing, supplying, installing, and commissioning solar panels, solar pumps, and other related things hit a 5 percent upper circuit in the day’s trade upon receiving a new work order worth Rs. 282 Crores from Indian Psu’s.
Price Action
With a market capitalization of Rs. 2,006 Crores, the shares of Alpex Solar Limited hit a 5 percent upper circuit in the day’s trade at Rs. 819.60 per equity share, from its previous day’s close price of Rs. 780.60.
What Happened
Alpex Solar Limited has received 2 new work orders from leading Indian Public Sector Undertakings for the supply of solar panels for a total consideration of ~Rs. 282 Crores and it should be executed by December 2024 and February 2025 respectively.
About the Company
Alpex Solar Limited is engaged in the business of manufacturing, supplying, installing, and commissioning solar panels, solar pumps, and other related things using monocrystalline and polycrystalline cell technologies.
Alpex Solar Limited has a 600 MW PV solar panel manufacturing capacity and it is setting up a new manufacturing unit for aluminium frames for the solar modules.
It has a strong customer base with well-known players like Tata Power, Indian Oil, NTPC, HAL, PowerGrid, Shakti Pumps, Luminous, Godrej, NHDC, Punjab Energy Development Agency, and many others.
As of FY24, Alpex Solar Limited generated 81 percent of its revenue from the sale of solar modules, Solar Water Pumps 17 percent, and others 2 percent.
Financials and Ratios
Its revenue from operations grew by 112 percent from Rs. 195 Crores in FY23 to Rs. 413 Crores in FY24, accompanied by profits of Rs. 4 Crores to Rs. 27 Crores.
In terms of Return ratios, it has delivered a return on equity (ROE) of 26.2 percent and a return on capital employed (ROCE) of 27.4 percent. It has maintained a debt-to-equity ratio of 0.27.
Written by: Bharath K.S
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