This small-cap stock is engaged in providing high-quality transformers, substation automation, and power solutions for solar, wind, and electricity distribution, jumped 7 percent after receiving an order worth Rs. 100 crore from Waaree Renewable Technologies Limited.
Stock Price Movement:
With a market capitalization of Rs. 1,557.61 crores, the share of Danish Power Limited has reached an intraday high of Rs. 849 per equity share, rising nearly around 6.83 percent from its previous day’s close price of Rs. 794.70. Since then, the stock has retreated and is currently trading at Rs. 791 per equity share.
What Happened:
Danish Power Limited has announced receiving a significant order worth Rs. 99.72 crore from Waaree Renewable Technologies Limited. The order is for the design, manufacture, testing, and supply of Inverter Duty Transformers, showcasing the company’s expertise in renewable energy infrastructure.
The contract is to be executed within an 8-month timeframe. This order aligns with the growing demand for renewable energy infrastructure in India and demonstrates Danish Power’s capability to deliver crucial power equipment for sustainable energy projects.
Products and Services:
Danish Power Limited offers a variety of power solutions, including inverter-duty transformers (up to 20 MVA, 33 kV) for solar and wind energy, distribution transformers (up to 5 MVA, 33 kV) for electricity networks, and power transformers (up to 63 MVA, 132 kV) for high-capacity transmission. The company also provides control relay panels, substation automation, and LT/APFC panels.
Recent quarter results:
Danish Power Limited’s revenue has increased from Rs. 188 crore in FY23 to Rs. 332 crore in FY24, which has grown by 76.60 percent. The net profit has also grown by 322.22 percent from Rs. 9 crore in FY23 to Rs. 38 crore in FY24.
Written By – Nikhil Naik
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