Debt-free solar company bags new orders worth Rs 87,00,000 from Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH & Goa Energy Development Agency
The stock is up by 76.6 per cent from its 52-week low of Rs 207 per share.
Ahasolar Technologies Limited has been awarded two significant consultancy contracts. The first contract, valued at approximately Rs 56 lakh, was received from Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. Under this agreement, Ahasolar will be responsible for developing detailed project reports for five lakes located in Jammu and Kashmir. The consultancy services are expected to be completed within nine months.
The second contract, valued at approximately Rs 31 lakh, was awarded by the Goa Energy Development Agency. Ahasolar will support project management consultancy (PMC) for a 3MW solar photovoltaic (PV) project at Mormugao Port Authority (MPA) under the Virtual Net Metering scheme. This project is anticipated to be completed within six months.
Earlier, the company was awarded a domestic consultancy contract by Hindustan Petroleum Corporation Limited (HPCL) to provide project management and site supervision services for solar photovoltaic (PV) projects at HPCL's HINCOL and HPLNG locations. The contract, with an approximate value of Rs 60 lakh, mandates Ahasolar to oversee all project phases, from inception to completion, at the two HPCL sites. The project timeline is six months, within which Ahasolar must successfully execute the consultancy services as outlined in the contract's terms and conditions.
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On Thursday, shares of Ahasolar Technologies Ltd plunged 0.69 per cent to Rs 365.55 per share from its previous closing of Rs 368.10 with an intraday high of Rs 375 and an intraday low of Rs 365.10. The stock’s 52-week high is Rs 657.75 and its 52-week low is Rs 207. The company boasts a strong three-year track record of 35.2 per cent return on equity and has significantly improved its debtor days from 35.6 to 24.5.
Ahasolar Technologies Limited is engaged in the business of cleantech enabling energy transition through digital transformation. The company has a market capitalisation of Rs 114.66 crore and is currently debt-free. The stock is up by 76.6 per cent from its 52-week low of Rs 207 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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