Synopsis:
Numaligarh Refinery Limited has placed an order worth Rs.3.64 crores with Solarium Green Energy Limited for rooftop solar PV installations.
The shares of the company, which are engaged in providing turnkey solar solutions and sell Solar PV Inverters, have come into focus after receiving a domestic order worth Rs. 3.64 Crores
With the market capitalization of Rs.748.92 crore, the shares of Solarium Green Energy Limited were trading at Rs.359.20, down by 4.02 percent from its previous day’s closing price of Rs.374.25 per equity share.
Domestic Order
Solarium Green Energy Limited has secured a new supply and O&M contract worth a total of Rs. 3.63 crore from Numaligarh Refinery Limited. The supply contract includes the installation and commissioning of solar plants with capacities of 140 kW and 760 kW in Assam, and 280 kW in West Bengal. The entire work involves supplying equipment, delivery, installation, and testing, with an estimated time frame to finish within 90 to 120 days from the date of notification of award.
The O&M contract focuses on the installation of 140 and 760 KW rooftop solar systems in NRL Assam and 280 KW rooftop solar systems in West Bengal. The agreement covers the entire process from the provision of solar equipment and related materials to the actual installation services.
The contract has an estimated timeframe of two years from the date of completion of the facilities of the entire project. The contract also focuses on expanding the company’s client base and contributing to its profitability.
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About the Company & Others
Solarium Green Energy Limited provides end-to-end turnkey services, from designing, engineering, procurement, and supplying to construction, installation, testing, commissioning, and the connected transmission systems. In addition, the company supplies a range of solar products, including Solar PV Modules, Solar PV Inverters, and availability-based tariff meters.
As per the available data, the company is currently holding an unexecuted order book of Rs.125 crores, expected to be completed within FY26. With the addition, it has pending work of Rs.243 crore and has submitted bids for new projects worth Rs.44 crore.
Revenue from operations rose from Rs.177 crore FY24 to Rs.230 crore in FY25 Net profit rose to Rs.18.58 crore from Rs.15.74 crore for the same time frame. On a half-yearly basis, revenue rose from Rs.81.9 crore in H1FY25 to Rs.148 crore in H2FY25. With an ROE of 23 percent, ROCE of 20 percent, and a P/E of 40.17 versus the industry average of 20.35, the stock appears to be overvalued compared to its peers.
Written by Jhanavi Sivakumar
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