During Tuesday’s trading session, the shares of a micro-cap company engaged in the business of execution of turnkey solar PV power plant projects surged nearly 2.6 percent to Rs. 38 on NSE, after receiving a work order from the subsidiary of the Reserve Bank Of India (RBI) for Solar Power Plant.
With a market cap of Rs. 73.8 crores, at 03:07 p.m., the shares of Agni Green Power Limited were trading in the green at Rs. 37.8, up by nearly 2 percent, as compared to its previous closing price of Rs. 37.05.
What’s the news
According to the latest regulatory filings with the NSE, Agni Green Power Limited announced receiving a work order worth nearly Rs. 2.37 crores from Bhartiya Reserve Bank Note Mudran (P) Limited (BRBNMPL), a wholly-owned subsidiary of Reserve Bank Of India (RBI).
The scope of the order includes the design, supply, installation, commissioning, testing, and training for a 410 KW (AC capacity)/460 KWP (DC capacity) ground-mounted solar photovoltaic power plant, without a battery bank (grid-interactive), at BRBNMPL Salboni.
The complete Solar Photovoltaic Power Plant will be supplied, installed, and tested at various locations within 180 days (inclusive of weekly offs and holidays) from the date of the contract agreement or work order, as per the filing.
Previous News
4th October 2024: Agni Green Power secured a work order, valued at around Rs. 4.1 crore, from Selco Foundation, Bangalore, for the supply, installation, and commissioning & comprehensive maintenance of Solar Photovoltaic (SPV) off-grid systems for 5 years at 108 health centres across the state of Mizoram.
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Financials
Agni Green Power reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 13.3 percent, rising from Rs. 14.3 crores in H1 FY24 to Rs. 16.2 crores in H1 FY25.
Similarly, during the same period, the company’s net profit increased from Rs. 0.12 crores to Rs. 0.15 crores, representing a rise of around 25 percent YoY.
About the company
Agni Green Power Limited is engaged in the manufacture, sale and installation of solar photovoltaic (PV) power plants, solar street lights, solar power conditioning units and other solar products like charge controllers, solar pump controllers, solar adaptors, solar generators, junction boxes etc. Additionally, the company provides EPC and O&M services to clients.
It is in the business of execution of turn-key solar PV power plant projects, including design, engineering, supply, installation & commissioning (I&C) and maintenance, for both stand-alone and grid-connected PV systems from the conceptualization to completion stages.
Written by Shivani Singh
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