The shares of the leading EV products manufacturer gained up to 3 percent after the company received new orders worth Rs 8.27 crore from different domestic clients.
Sungarner Energies Ltd has a market capitalization of Rs 87.64 crore, the shares were trading in green at Rs 377.95 per share, increasing around 1.57 percent as compared to the previous closing price of Rs 372.10 apiece.
Reason for rise:-
Sungarner Energies Ltd received fresh orders of Rs 8.27 crore from several domestic clients, which boosted the company’s share price.
The first order was received from Avadh Rail Infra Ltd for a 504 KW solar power plant worth Rs 1.42 crore, the second from Pharma Deal Jaipur for a 5KVA 48V inverter worth Rs 1.09 crore, and the final order was received from Raashi System Abd Solutions Pvt Ltd for the supply of lithium-ion batteries and an inverter worth Rs 5.74 crore.
Also read
Financial condition:-
Examining the company’s financial performance, revenue jumped by 39 percent from Rs 7.50 crore in H1FY24 to Rs 10.47 in H2FY24, however during the same period of time, net profit magnified by 220 percent from Rs 0.25 crore to Rs 0.80 crore.
Recent projects:-
Sungarner Energies has commissioned more than 50 large Solar Projects in the last 8 years. Some of their commissioned projects are for customers like Interglobe Enterprises, DLF, Jubilant Life Sciences, Eli Lilly, Modi Xerox, V N Dyers and Textiles, The ITC Hotels Delhi and other
Geographical expansion:-
Sungarner Energies is in the process of expanding its geographical footprint by appointing an additional 500 Franchisees to cover all major Indian Districts by the end of 2025. Also, the company has started exports in the last 2 years, exporting products to Nigeria, Lebanon, Nepal, Dubai, and Bhutan.
Company profile:-
Sungarner Energies Limited manufactures Solar Inverters, Online UPS Systems, Electric Vehicle Chargers, and Lead Acid Batteries.
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.
