Shares of this microcap company fell around 4 percent in Thursday’s trading session despite receiving an order from an International Entity. The stock experienced an 18 percent decline over the past month but has generated over 50 percent returns for its shareholders in the past year.
Price Movement:
With a market capitalization of Rs. 104 crores, the shares of Ahasolar Technologies Ltd started Thursday’s trading session on a flatter note at Rs. 350 compared to its previous close of Rs. 348. During the trading session, the shares hit a low of Rs. 333.20, losing around 4 percent and are currently trading at Rs. 336 apiece.
What Happened:
According to the exchange filing, the company received a work order for the development of an Intuitive Rooftop-Solar Feasibility Portal and voice assistance/Chatbot on the BYPL website from Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The whole consultancy service is priced at around Rs. 35 lakhs.
Financials:
Coming onto the company’s financial statements, the revenue magnified by 126 percent from Rs. 12.89 crores during H1FY24 to Rs. 29.16 crores in H2FY24. In addition, the net profits showcased a transition from a net loss of Rs. 77 lakh to a net profit of Rs. 81 lakhs during the same timeframe.
Order Book:
As of 31st March 2024, the company’s total order book stands at Rs. 4,176 lakhs(Rs. 41.76 crores), comprising a mix of private and public sector customers as well as development corporations. Some of these orders are multi-year contracts.
Recent Developments:
Earlier, the company received a work order for a Project Management Consultant for undertaking Project Management Consultancy (PMC) services towards setting up a 10MW Solar Power Plant from Paradip Port Authority, Odisha and the whole consultancy service was priced at around Rs. 47 lakhs.
Shareholding Pattern:
According to the latest shareholding pattern, the Promoters have 36.95 percent of stakes and the remaining 63.04 percent of shares are with the retail investors.
Company Profile:
Headquartered in Gujarat, Ahasolar Technologies was incorporated in 2017. It is a renewable energy technology company that specializes in solar energy solutions. The company operates in the space of climate change, renewable energy, and digital technology.
Written By Vaibhav Patil
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