The shares of solar panel manufacturers hit 5 percent upper circuit after the company secured prestigious multiple orders for solar panels and PV modules for Rs 71.55 crore.
Price movement
With a market capitalization of Rs 483.92 crore, the shares of Solarium Green Energy Ltd were trading at Rs 232.10 per share, increasing around 5 percent as compared to the previous closing price of Rs 221.05 apiece.
Reason for rise
The shares of Solarium Green Energy Ltd have seen positive movement after securing multiple orders, including Rs. 55.84 crore from NTPC Vidyut Vyapar Nigam for rooftop solar projects across various states and Rs. 15.70 crore for supplying Bifacial Topcon Half-cut PV modules to multiple clients.
Financial performance
The company’s revenue soared 78%, rising from Rs 99 crore in FY22-23 to Rs177 crore in FY23-24 while net profit zoomed by 700%, growing from Rs 2 crore to Rs 16 crore during the same period, reflecting strong financial performance and continued business growth.
Also read: Infra stock hits 5% upper circuit after receiving ₹18 Cr order for warehouse construction
Projects
The company has developed, executed, and commissioned 11,195 residential rooftop projects, 172 projects in the commercial and industrial (C&I) rooftop and ground-mounted segment, and 17 government projects.
Footprint
The company’s turnkey projects are spread across 10 states in India, including Gujarat, Delhi, Rajasthan, Haryana, Punjab, Odisha, Maharashtra, Uttar Pradesh, Madhya Pradesh, and Jammu & Kashmir.
Strong Growth Pipeline
Solarium Green is rapidly growing with comprehensive services and pending orders exceeding Rs. 140 crore. It anticipates approvals for over Rs. 1200 crore in new contracts. Though fully priced based on recent financials, strong prospects make it attractive for medium- to long-term investors.
Company Profile
Solarium Green Energy Ltd offers turnkey solar solutions, including residential, C&I rooftop, and ground-mounted projects, along with government tenders for renewable systems. It also supplies solar products like PV modules, inverters, and ABT meters, sourcing from accredited vendors and previously manufacturing polycrystalline modules.
Written by Abhishek Singh
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