Shares of this solar stock hit the upper price band on Tuesday, despite volatile market conditions after securing an order of Rs.154.27 crore for the establishment and commissioning of Grid Tied 30MW Ground Mounted Solar Projects in the state of Gujarat.
Price Movement
In Tuesday’s trading session, Zodiac Energy Limited‘s share price reached the 5 percent upper circuit at Rs.575.80 per share, rising from its previous close of Rs.548.40. Over the past year, the stock has delivered returns exceeding 350 percent.
Order specifications
Zodiac Energy Limited has recently obtained a substantial contract from the Ahmedabad Municipal Corporation (AMC) for a 30MW grid-tied ground-mounted solar project in Gujarat. Valued at Rs.154.27 crores (approximately $18.35 million), the order includes the design, supply, installation, testing, and commissioning of the solar facility.
Furthermore, Zodiac Energy will handle the operation and maintenance of the project for five years after its completion. This contract marks a significant milestone for the company, reinforcing its commitment to renewable energy solutions in the region.
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Order Book
Zodiac Energy has a robust order book of over 50 megawatts of captive projects. It is also experiencing strong demand for the PM Surya Ghar Yojana in the residential rooftop segment. Furthermore, the company is expanding its presence outside India, primarily in Africa, and is expected to convert its leads into confirmed orders soon.
Recent Developments
The company has signed a memorandum of understanding (MOU) with the Gujarat government during Vibrant Gujarat to secure an investment of Rs.3,000 crores over the next five years. In alignment with this MOU, the company is establishing a solar power plant under the PM Kusum scheme at a cost of Rs.150 crores.
Financial Overview
In its latest financial update, the company reported remarkable net sales of Rs.79.34 crore for Q1 FY25, reflecting a staggering 147 percent increase from Rs.32.10 crore in Q1 FY24. Moreover, net profits surged by 184 percent to Rs.2.33 crore in Q1 FY25, compared to Rs.0.82 crore in Q1 FY24, highlighting significant growth during this period.
About the company
Zodiac Energy Limited, based in Ahmedabad, Gujarat, is a prominent energy solution provider specializing in solar power systems and turnkey solutions for power generation projects. Committed to sustainability, the company focuses on innovative technologies and efficient energy solutions to meet the growing demand for renewable energy.
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Written by – Siddesh S Raskar
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