Rs 394.26 Crore Order Book: Solar Street Light & Solar PV Panel Company’s Stock Jumps 6.75 Per Cent; Here’s Why
The stock is up by 72 per cent from its 52-week low of Rs 327.40 per share.
On Wednesday, shares of Ganesh Green Bharat Ltd jumped 6.75 per cent to Rs 562.50 per share from its previous closing of Rs 526.95 per share.
Ganesh Green Bharat Ltd has outlined plans to significantly expand its manufacturing capabilities. The company aims to increase its solar PV module (solar panel) production capacity from the current 750 MW to a substantial 1100 MW (1.1 GW). This ambitious expansion will be achieved through a comprehensive modernization and upgradation of existing machinery, coupled with the strategic importation of cutting-edge equipment. All these enhancements will be implemented at the company's current manufacturing facility located at Survey No. 319, Behind Honest Restaurant, Village- Tundali, Tundali, Mahesana, Gujarat-384455. This capacity addition project is slated for completion by March 25, 2025, with an estimated investment of approximately Rs 5,52,02,160. The funding for this expansion will be secured through a combination of internal accruals and
Earlier, the company secured significant contracts in the renewable energy sector. Won a contract from the Bihar Renewable Energy Development Agency (BREDA) to install 9860 solar streetlights across East Champaran and Sitamarhi districts in Bihar, valued at Rs 30,07,30,000. This project entails the design, installation, and maintenance of Smart Solar Street Light Systems. Furthermore, the company has secured new orders worth Rs 40,25,87,412, including the installation of 4917 Smart Solar Street Lights in Katihar district, Bihar, under the 'Mukhyamantri Gramin Solar Street Light Yojana,' and the supply of 15.03 MW Monocrystalline Non-DCR Modules to Matgrow Renewables Private Limited in Gujarat.
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About the Company
Founded in 2016, Ganesh Green Bharat Ltd has rapidly evolved from a simple electrical contracting firm into a diversified energy and water solutions provider. With a strong focus on sustainability, the company has expanded its operations to include renewable energy generation, particularly solar power and water supply schemes.
The company's expertise in solar energy extends from residential solar home lights to large-scale solar power plants. As a channel partner with the Ministry of New and Renewable Energy (MNRE), Ganesh Green Bharat has successfully executed numerous solar projects across India, including a significant project involving 16,486 solar home lighting systems in Rajasthan. In addition to its solar energy ventures, the company has also ventured into the water supply sector, offering comprehensive solutions for rural communities, including the design, construction and commissioning of piped water supply systems.
The company has a market cap of Rs 1,340 crore and including the above orders its order book stands at Rs 394.26 crore. The shares of the company have an ROE of 43 per cent and an ROCE of 40 per cent. The stock is up by 72 per cent from its 52-week low of Rs 327.40 per share. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.