This penny stock is a consultancy and service provider focused on engineering, construction, and project execution in the power and telecom industries. The stock has hit a 5 percent upper circuit after securing an order worth approximately Rs. 26 crores from NHPC, Powergrid Energy Services, and NTPC for solar projects
Stock Price Movement
With a market capitalization of Rs. 98.46 crores, the shares of Sharika Enterprises Limited’s stock surged by 5 percent, reaching an upper circuit of Rs. 22.74 per share on Saturday, up from its previous closing price of Rs. 21.66 per share.
What Happened
Sharika Enterprises Limited has secured orders of solar rooftop contracts from National Hydroelectric Power Corporation (NHPC), POWERGRID Energy Services Limited (a subsidiary of Power Grid Corporation of India), and National Thermal Power Corporation (NTPC), with a combined capacity of approximately 5 MW, valued at around $3 million (approx. Rs. 26.01 crore).
The projects include a 4 MW rooftop solar system across NHPC project sites in J&K under the PM Surya Ghar: Muft Bijli Yojana, a 1 MW solar installation for government buildings in Ladakh, Rajasthan, and PGCIL’s Northern Region, and a 180 kW solar carport at NTPC Unchahar, Raebareli.
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Recent Orders
On January 28, 2025, Sharika Enterprises Limited secured a Rs. 15.58 crore contract from NHPC Limited to develop 4 MW rooftop solar projects in Jammu & Kashmir under the PM Surya Ghar: Muft Bijli Yojna. The project will be completed in nine months, with a five-year maintenance period.
On January 20, 2025, the company received a Rs. 5.74 crore contract from POWERGRID Energy Services Limited to supply and install rooftop solar systems in Ladakh, Rajasthan, and the Northern Region. Earlier, on December 26, 2024, Sharika got Rs. 8.29 crore orders from JSW Renew Energy for underground cable work in Karnataka and Maharashtra.
Additionally, on December 28, 2024, Sharika announced pilot projects worth over Rs. 8 crore to convert 33kV overhead lines into underground systems in Maharashtra and Karnataka.
Business Operation
The company offers management consultancy for the power sector, project execution services, and engineering procurement and construction (EPC) contracts, providing comprehensive solutions to enhance operational efficiency and infrastructure development.
Recent quarter results
Sharika Enterprises Limited’s revenue has increased from Rs. 11.57 crore in Q2 FY24 to Rs. 24.46 crore in Q2 FY25, which has grown by 111.41 percent. The net loss has increased from Rs. -1.89 crore in Q2 FY24 to Rs. -3.11 crore in Q2 FY25.
Written By – Nikhil Naik
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