Green Energy stock engaged in manufacturing, supplying, installing, and commissioning solar panels, solar pumps, and other related things in focus upon receiving new work orders worth Rs. 34.51 Crores for supply of solar pumps.
Price Action
With a market capitalization of Rs. 2298 Crores, the shares of Alpex Solar Limited were trading at Rs 938.70 per equity share, down 0.9 percent from the previous day’s close price of Rs. 946.
What Happened
Alpex Solar Limited has received a new work order from the Haryana Renewable Energy Department (HAREDA) under component-B of the PM Kusum scheme for the supply of 1,141 solar pumps for a consideration of Rs. 34.51 Crores, and it is to be executed within 120 days.
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 aluminum frames for 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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