During Thursday’s trading session, the shares of a renewable energy solution provider company surged nearly 3 percent to Rs. 480 on NSE, after securing a work order worth ~Rs. 6.4 crores for rooftop solar power systems from Punjab Energy Development Agency, a Punjab Government Undertaking.
With a market capitalisation of Rs. 502.6 crores, the shares of Sahaj Solar Limited opened in the green at Rs. 471.95, up by around 1.2 percent, as against its previous closing price of Rs. 466.65.
What’s the News
Sahaj Solar Limited, according to the latest regulatory filings with the NS announced receiving an order worth Rs. 6.37 crores from Punjab Energy Development Agency, a Punjab Government Undertaking. The order is to be executed within 105 days from the date of receiving of work order.
The company secured this Letter of Intent (LOI) to undertake the design, manufacture, supply, engineering, installation, testing and commissioning of solar power systems, which includes a 5-year warranty and maintenance.
The project involves a total capacity of 1,797 KW of estimated cumulative capacity of 20 MW grid-interactive rooftop/ground-mounted SPV power plants on various government buildings.
Previous Order
2nd January 2025: Sahaj Solar secured an order valued at Rs. 36.42 crores from Tripura Renewable Energy Development Agency (TREDA) under the PM-KUSUM Scheme (Component C) of the Ministry of New & Renewable Energy, Govt. of India. The project is scheduled to be executed within 12 months from the date of issue of LoA.
The company received a Letter of Award (LoA) for the solarisation of existing 2 HP grid-connected Agriculture Pumps (IPS) in Tripura.
The scope of work includes a five-year guarantee/warranty, annu maintenance contract, and insurance coverage, executed on a turnkey basis.
4th January 2025: The company bagged an order worth Rs. 46.64 crores from Dakshin Gujarat Vij Company Limited (DGVCL) under PM- KUSUM Scheme (Component B) of Ministry of New & Renewable Energy, Government of India.
The company secured a Notice to Proceed (NTP) for the design, manufacture, supply, transport, installation, testing and commissioning of off-grid Standalone Solar Photovoltaic Water Pumping Systems in Gujarat. The order is to be executed within 120 days from the date of issue of NTP.
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Financials
The company experienced significant growth in its revenue fr operations, showing a year-on-year rise of 60.7 percent from Rs. 61 crores in H1 FY24 to Rs. 98 crores in H1 FY25.
Similarly, its net profit increased during the same period from Rs. 2 cror to Rs. 5 crores, indicating an impressive growth of around 150 percent YoY.
About the Company
Sahaj Solar Limited is engaged in the business of manufacturing of solar panels and is also engaged in the supply and installation of solar power generating systems such as solar rooftops, solar water pumping systems, solar streetlights, and other renewable energy devices and equipments.
Incorporated in 2010, the company operates a state-of-the-art Solar PV Module manufacturing facility with a production capacity of 100 MW at its plant in Bavla, Gujarat.
Written by Shivani Singh
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