The shares of this microcap company locked a 5 percent upper-circuit after receiving an order worth Rs. 56 lakhs from an international entity. On a YTD basis, the stock has delivered more than a 20 percent return to its shareholders.
Price Movement:
With a market capitalization of Rs. 118 crores, the shares of Ahasolar Technologies Ltd started Friday’s trading session on a higher note at Rs. 378 compared to its previous close of Rs. 365.55. During the trading session, the shares clocked a 5 percent upper circuit at Rs. 383.75 apiece.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received a work order for the development of detailed project reports for five lakes in Jammu and Kashmir from Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The whole Consultancy Service is priced at around Rs. 56 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.
Recent Development:
Earlier, the company had received a work order for Project Management Consultancy (PMC) support for a 3MW Solar PV Project at Mormugao Port Authority (MPA) under Virtual Net Metering from the Goa Energy Development Agency. The whole Consultancy Service is priced at around Rs. 31 lakhs.
Future Outlook:
The company boasts over 20 ongoing projects and anticipates growth driven by an increase in SaaS subscriptions with an integrated marketplace.
Additionally, the company is investing in the development of solar plants and EV infrastructure to make solar energy accessible to consumers living in flats or without rooftops through fractionally owned assets.
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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