This microcap software stock specializing in SaaS products for solar companies to streamline processes jumped 4% in day trade hours upon receiving an order from the India Smart Grid.
With a market capitalization of Rs. 139 Crores, the shares of Ahasolar Technologies Limited were trading at Rs. 454.05, up 2.05% from its previous day’s close price of Rs. 444.95. The stock has delivered a multibagger return of 113.02% in the past year.
The India Smart Grid Forum awarded the company an Rs. 25 lakh work order for data collection for distributed solar connected to the distribution grid from PGVCL and Indore DISCOM for pilot demonstration and design of framework for national registry of solar rooftop PV from Jammu and Kashmir Energy, which will be completed in 6 months.
Ahasolar Technologies Limited offers a software as a service (SaaS) product for solar companies that streamlines processes, designs photovoltaics, manages projects, and monitors generation, as well as an integrated marketplace to connect demand and supply digitally.
The company is in the microcap category, and its financials are released semi-annually. Its revenue from operations increased by 20.63% YoY, from Rs. 17.30 crores in FY22 to Rs. 20.87 crores in FY23. Its net profit increased by 102.53% YoY, from Rs. 0.79 crores in FY22 to Rs. 1.60 crores in FY23.
The company’s primary business is solar software, solar marketplace, solar advisory, and consultancy services. It is involved in advisory business for sustainable development and energy transition to renewables. Its products are Aha Solar Helper, Aha Marketplace, Aha Advisory, and Aha Energy.
According to the company’s segment in FY23, it reported its segment under core business and conducts its business only in India.
Written by: Santhosh S
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