During Tuesday’s trading session, the shares of one of the leading power products manufacturers and solar solution providers surged nearly 1.3 percent to Rs. 522 on NSE, after the company announced receiving an order worth Rs. 32 crores to develop a 13.5 MW Solar Power Plant.
With a market cap of Rs. 120.6 crores, at 11:34 a.m., the shares of SunGarner Energies Limited were trading in the green at Rs. 520, up by nearly 1 percent, as compared to its previous closing price of Rs. 515.5.
What’s the news
SunGarner Energies Limited, in its latest regulatory filings with the National Stock Exchange (NSE), announced securing an order worth approximately Rs. 32 crores.
The company has been awarded a contract to develop a 13.5 MW solar power plant in the state of Rajasthan, with a total project cost of around Rs. 32 crores, inclusive of GST.
This significant achievement highlights SunGarner’s commitment to delivering sustainable energy solutions and demonstrates its capability to address the diverse needs of its clients.
Previous Orders
27th December 2024: SunGarner Energies secured an order worth around Rs. 18 crores from M.P. Urja Vikas Nagar Limited for the development of a 4 MW solar power plant.
29th December 2024: The company was awarded contracts to develop solar power plants of 1.82 MW and 2 MW, valued at a combined total of ₹17.19 crores (including GST), from Ahab Solar Power Private Limited and Bhadora Solar Power Private Limited, respectively.
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Financials
SunGarner Energies reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 60.5 percent, rising from Rs. 7.5 crores in H1 FY24 to Rs. 12.04 crores in H1 FY25.
Similarly, during the same period, the company’s net profit increased from Rs. 0.25 crores to Rs. 0.82 crores, representing an impressive growth of around 228 percent YoY.
Key Financial Ratios
In terms of key financial metrics, SunGarner Energies has a Return on Equity (RoE) of 16.3 percent and a return on capital employed (RoCE) of 17.2 percent. Additionally, the company’s debt-to-equity ratio stands at 0.73.
About the company
SunGarner Energies Limited is engaged in the business of manufacturing solar power, UPS, batteries, inverters, and EV products.
In 2017, SunGarner established its first solar inverter manufacturing unit in Greater Noida, India. Over time, the company expanded its portfolio by diversifying into energy storage and solar panel production.
The company has executed over 100 100 large-scale solar grid-tied projects, ranging from 50 kWp to 2 MWp, both in India and abroad. SunGarner inverters have been supplied across 26 states in India, spanning from Leh to Tamil Nadu, within a span of six years, while internationally, it exports its products to seven countries.
Written by Shivani Singh
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