During Monday’s trading session, the shares of a renewable energy solution provider company surged 4.8 percent to Rs. 575 on NSE, after the company secured an order worth Rs. 46.64 crores from Dakshin Gujarat Vij Company Limited (DGVCL).
At 11:09 a.m., the shares of Sahaj Solar Limited were trading in the green at Rs. 562.1, up by nearly 2.5 percent, as against its previous closing price of Rs. 548.6, with a market cap of Rs. 617.5 crores.
What’s the News
Sahaj Solar Limited, according to the latest regulatory filings with the NSE, announced receiving 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.
Previous Order
2nd January 2024: 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.
As per the latest regulatory filings with the NSE, 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, annual maintenance contract, and insurance coverage, executed on a turnkey basis.
Also read…
Financials
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of 8.5 percent from Rs. 185.4 crores in FY23 to Rs. 201.2 crores in FY24.
Similarly, its net profit increased during the same period from Rs. 6.5 crores to Rs. 13.4 crores, indicating a growth of around 106.2 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
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
Start Your Stock Market Journey Today!
Want to learn Stock Market trading and Investing? Make sure to check out exclusive Stock Market courses by FinGrad, the learning initiative by Trade Brains. You can enroll in FREE courses and webinars available on FinGrad today and get ahead in your trading career. Join now!!
