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Green energy stock jumps 3% after receiving order worth ₹15.54 Cr from BSF

Published 10-10-2024, 12:00 pm
Updated 10-10-2024, 05:45 pm
© Reuters.  Green energy stock jumps 3% after receiving order worth ₹15.54 Cr from BSF

The shares of this micro-cap solar company jumped 3% on Thursday’s trade after it received orders from BSF for Rs. 15.54 Crores.

Stock Action:

Sahaj Solar Ltd., with a market capitalization of Rs. 691.02 Crores, saw its shares rise to Rs. 629 per share, from its previous close of Rs. 609.60 per share.

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Reason behind the Action:

Sahaj Solar Ltd. has announced that it has received a letter of commencement for a project awarded by the Directorate General of the Border Security Force (BSF), under the Ministry of Home Affairs, Government of India. The project involves providing, installing, testing, and commissioning two 25 KWP off-grid solar power plants at BSF locations in Gopalpur and Coochbehar, which fall under the Guwahati FTR HQ BSF.

The total value of the order is approximately ₹15.54 crores, and the work is to be completed within 18 months.

Financials:

The company reported revenues of Rs. 201.17 Crores in FY 2024, up from Rs. 185.36 Crores in FY 2023, resulting in 8.5% year-on-year growth, and net income for the same period more than doubled from Rs. 6.48 Crores to Rs. 13.37 Crores, resulting in 106.33% growth year-on-year.

Also Read: Chemical stock jumps 9% after signing agreement to develop graphite battery anode for EVs

Shareholding Pattern:

As of the June quarter, shareholding pattern the company promoters own 71.28% stake, while Foreign institutional investors own 3.84% of the company, Domestic institutional investors own 0.9% of the company, and the retail investors hold 23.99% stake in the company.

About the Company:

Sahaj Solar Ltd. is an Indian solar panel manufacturer and provider of Engineering, Procurement, and Construction (EPC) services, with a focus on renewable energy solutions. Established in 2007, the company is recognized by the Ministry of New and Renewable Energy (MNRE) and is approved by the International Electrotechnical Commission (IEC).

Sahaj specializes in Crystalline Photovoltaic Technology for the production of Solar PV Modules and has operations across India and Africa. The company emphasizes quality and

innovation in its product offerings and project implementations, supported by remote monitoring systems for performance tracking. Sahaj holds several national and international certifications, including ISO and IEC standards.

Also Read: Infra stocks jumps 7% after receiving project worth ₹2090 Cr from Maha Govt
Written By: Arvind jv

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