Synopsis:
GP Eco Solutions India surged sharply to hit a 5 percent upper circuit after it received a work order worth Rs 122 crore for a solar power plant project in Punjab.
The shares of this leading solar power services provider surged sharply to hit a 52-week high on securing a work order worth Rs 122 crore for a solar project in the state of Punjab. In this article, we will dive into the details of the order.
With a market capitalization of Rs 635 crores, the shares of GP Eco Solutions India Ltd are currently trading at Rs 541.80 per share. In the last one year, the stock has delivered a robust return of 38 percent.
On Thursday, the company, through a stock exchange filing, announced that the company has secured a work order worth Rs 122 crore from Welkin Renewable India Pvt Ltd.
Under the contract, GP Eco will provide Engineering, Procurement, and Construction (EPC) services for setting up a 24 MWac / 31.67 MWdc ground-mounted solar power project in Punjab.
The project will be developed under the Open Access Captive Metering Arrangement and is expected to be fully operational by March 31, 2026. As part of the contract, the company will handle the entire execution, including engineering, procurement, installation, testing, and final handover of the plant.
Open Access Captive Metering Arrangement lets companies set up their own power plants, such as solar, to generate electricity for their use. By using “open access,” they can send this power through state grids after paying a fee. Proper metering tracks how much power is generated and used. This approach helps lower electricity costs and encourages clean energy.
Financial Highlights
The company reported a revenue of Rs 246 crores in FY25, up by 78 percent from its FY24 revenue of Rs 138 crores. Additionally, the company reported a net profit increase of 43 percent to Rs 10 crore in FY25 from Rs 7 crore in FY24.
The stock delivered an ROE and ROCE of 23.61 percent and 23.92 percent respectively, and is currently trading at a P/E of 61.23x as compared to its industry average of 44.19x.
GPES Solar is a distributor of solar products in India. It is an authorised seller of solar inverters and panels for major companies in North India. GPES also offers solar project services, including designing, installing, and maintaining systems for homes and businesses. Under its brand “Invergy,” it sells hybrid inverters and LFP batteries and manufactures them through OEM.
Written by Satyajeet Mukherjee
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