Solar Energy Stock engaged in providing integrated renewable energy solutions like solar modules, solar pumps, rooftop solar, and many more jumped upto 6 percent in the days upon receiving a new work order from Zambia worth Rs. 32.63 Crores.
Price Action
With a market capitalization of Rs. 702 Crores, the shares of Sahaj Solar Limited were trading at Rs. 638.25 per equity share, up 3.18 from its previous day’s close price of Rs. 618.60.
What Happened
Sahaj Solar Limited has entered into a Memorandum of Agreement with Wincyril Enterprises Limited, Zambia, for providing Engineering, Procurement, and Construction (EPC) services to setup 5 MWAC Solar PV grid-connected micro-power plants at sixty (60) locations across Zambia for a consideration of Rs. 32.63 Crores and it should be executed by March 2026.
Wincyril Enterprises Limited, Zambia is shortlisted as an Independent Power Producer (IPP) to develop up to 5 MWAC Solar PV grid-connected micro-power plants at sixty (60) locations across Zambia through a tariff-based competitive bidding process by ZESCO Limited a State-owned Power Company of Zambia, following which it awarded the above work orders to Sahaj Solar Limited.
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About the Company
Sahaj Solar Limited is engaged in the business of providing integrated renewable energy solutions. Its operations include manufacturing solar PV modules, provision of solar pumps, and providing Engineering, Procurement, and Construction(EPC) services related to it.
It has a strong customer base with well-known players like Maharashtra State Electricity Distribution. co ltd, Madhya Gujarat Vij Company Limited, Maharashtra Energy Development Agency, Mahindra Solarize Private Limited, Mahindra Susten Private Limited and many others.
Coming to the revenue breakdown, as of FY24, Sahaj Solar Limited generated 70.49 percent of its revenue from Solar Pumps, Solar Panels 27.11 percent, Solar Rooftops 2.05 percent, other products like street light home lights 0.07 percent and others 0.28 percent.
Financials & Ratios
Its Revenue from operations grew by 8.53 percent from Rs. 185 Crores in FY23 to Rs. 201 Crores in FY24, accompanied by profits of Rs. 6 Crores to Rs. 13 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 53.2 percent, and a return on capital employed (ROCE) of 39.4 percent. It has reported a high debt-to-equity ratio of 1.72.
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Written by: Bharath K.S
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