50 per cent from its 52-week low: This micro-cap company receives an order worth Rs 9,00,000 from Hindustan Petroleum Corporation Ltd; scrip hit upper circuit!

The stock has an ROE of 65.7 per cent and a ROCE of 58.4 per cent.

Ahasolar Technologies Ltd informed that has received a work order for PMC services and site supervision services from Hindustan Petroleum Corporation Limited (HPCL). The whole consultancy service is priced at around Rs 9,00,000 and will be completed in 1 year from LOI.

Earlier, the company received a contract for the development and maintenance of the RE Portal for processing applications of solar, wind and hybrid (solar-wind) and integration with the existing solar rooftop portal from Gujarat Energy Development Agency, Gandhinagar. The order is received from Gujarat Energy Development Agency, Gandhinagar which will be completed in 1 year from LOI.

According to the half-yearly results (H1FY24), the net sales increased by 31 per cent to Rs 12.88 crore compared to H1FY23. The company reported a net loss of Rs 0.77 crore in H1FY24 compared to a net profit of Rs 0.16 crore. In its annual results, the sales increased by per cent to Rs 20.87 crore and the net profit increased by 103 per cent to Rs 1.60 crore in FY23 compared to FY22.

On Friday, at the closing bell, shares of the company were locked in a 5 per cent upper circuit to Rs 318.75 per share from its previous closing of Rs 303.60. The stock’s 52-week high is Rs 473 and its 52-week low is Rs 203.

Ahasolar Technologies Limited is engaged in the business of cleantech enabling energy transition through digital transformation. The company has a market capitalization of Rs 98.25 crore and is currently debt-free.

The stock has an ROE of 65.7 per cent and a ROCE of 58.4 per cent. The stock is up over 50 per cent from its 52-week low of Rs 203 per share. Investors should keep an eye on this micro-cap SME IPO stock.

Disclaimer: The article is for informational purposes only and not investment advice.