Shares of this solar company are gaining attention after securing a Rs.2.4 crore maintenance order from the Gujarat Energy Development Agency, a Government of Gujarat organization.
Share price movement
In Thursday’s trading session, Trom Industries Ltd shares opened at Rs.228.00 per share, a decline from the previous close of Rs.229.50 apiece. The shares have since dropped further to Rs.222.45 per share.
What happened
Trom Industries Limited has received a work order from the Gujarat Energy Development Agency (GEDA), a Government of Gujarat organization, for the supply, installation, commissioning, and comprehensive maintenance contract (CMC) of grid-connected solar photovoltaic systems on government buildings for five years.
The work order received involves the supply, installation, commissioning, and comprehensive maintenance contract (CMC) for grid-connected solar photovoltaic systems on government buildings over five years.
The company has no shareholding in the entity associated with this order. Key terms include installation on the terraces of government buildings, a capacity range of 25kW to 50kW at a rate of Rs.31,029, a total project cost of Rs.2,38,92,330, and a completion deadline of February 3, 2025.
Revenue Bifurcation
The revenue bifurcation of Trom Industries emphasizes its strong focus on solar products, which account for 71.23 percent of total revenue, followed by installation services at 15.56 percent. AC LED lights contribute 4.44 percent, while footwear supply and other trading activities generate 5.28 percent and 3.49 percent, respectively.
Future Outlook
Trom Industries aims to enhance its resilience against market fluctuations through a diverse project portfolio that includes residential rooftop installations, industrial solar power plants, ground-mounted solar facilities, and solar streetlights.
Additionally, the company is actively exploring green hydrogen initiatives, positioning itself at the forefront of emerging energy technologies aligned with global decarbonization trends.
Financial Performance
In its recent financial updates, Trom Industries reported revenue of Rs.54.32 crore for FY24, marking a significant 127 percent increase from Rs.23.97 crore in FY23. The net profit surged 1,876 percent to Rs.5.73 crore, compared to Rs.0.29 crore in the same period.
Company Profile
Trom Industries Limited is a prominent solar EPC (Engineering, Procurement, and Construction) company in India, specializing in residential and industrial solar power solutions.
With over 12 years of experience, the company is dedicated to promoting sustainable energy through innovative projects and has successfully served more than 30,000 customers across the country.
Written by – Siddesh S Raskar
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