This Microcap Solar stock deals in multiple digital solutions and advisory services in the renewable energy field hit a 5 percent upper circuit after signing PPA with Saffron Enclave of 100KW.
Price Action (WA:ACT)
With a market capitalization of Rs. 75.4 Crores, the shares of Ahasolar Technologies Ltd (BO:AHAS) were up by 5 percent in the day’s trade touching a day’s high of Rs. 244.50 per share. The stock was in the upper circuit limit which is 5 percent up from the previous closing price of Rs. 232.90 apiece. The stock has delivered a 9 percent return over the past year and underperformed the Nifty Index.
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What Happened
The rise in stock price was due to the company signing a Power Purchase Agreement (PPA) for the sale of 100 KW solar power under the Independent (LON:IOG) Power Producer (IPP) with Saffron Enclave Private Limited, Kolkata to to sell electricity for a period of 20 years. The solar power plant is expected to be developed at Gurgaon, Haryana.
About the Company
Ahasolar Technologies Limited was founded in 2017. It operates in the cleantech sector, focusing on renewable energy solutions, particularly solar energy. They provide innovative digital solutions through its Software-as-a-Service (SaaS) platform, which assists solar companies and governments in project management, design, and monitoring.
Ahasolar also offers advisory services for sustainable development and energy transition. Their business model concentrates on connecting stakeholders via a digital marketplace to streamline the adoption of solar technologies. By leveraging artificial intelligence and digital transformation, Ahasolar aims to empower clients to achieve their renewable energy goals while addressing climate change challenges.
Products and Services
Ahasolar Technologies Limited offers a comprehensive suite of services focused on renewable energy solutions. Their key products include a Software-as-a-Service (SaaS) platform for solar project management, advisory services for sustainable development, and a marketplace connecting solar installers and manufacturers. They also promote fractional ownership options for renewable energy assets.
Financials & Ratios
Its Revenue from operations increased by 79 percent year on year from Rs. 12.89 Crores in H1FY24 to Rs. 23.07 Crores in H1FY25, accompanied by losses of Rs. 0.77 Crores to Rs. 2.88 Crores.
The company has a net profit margin of around 0.10 percent and a debt-to-equity ratio of around 0 as of FY24.
Shareholding Pattern
As of September 2024, the shareholding pattern with the promoter’s stake holding a share of 36.95 percent in Ahasolar Technologies, and the public holding around 63.06 percent.
Written by Santhosh S
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