Rs 465.32 Crore Order Book: Solar Street Light Manufacturer Bags New Order Worth Rs 13,93,85,000 From BREDA
The stock is up by 82 per cent from its 52-week low of Rs 327.40 per share.
Ganesh Green Bharat Ltd has been awarded a work order by the Bihar Renewable Energy Development Agency (BREDA), a government agency under the Energy Department of the Bihar Government. The project involves the design, supply, installation, testing, and commissioning of a Smart Solar Street Light System with a 5-year Comprehensive Maintenance Contract (CMC) and Remote Monitoring System (RMS) under the 'Mukhyamantri Gramin Solar Street Light Yojana' in Bihar.
The work will be carried out across various blocks in Buxar district, including Buxar, Chausa, Rajpur, Itarhi, Dumraon, Chaugain, Chakki, Nawanagar, Kesath, Brahimpur and Simri, with a total of 4,570 solar street lights to be installed. The contract value is Rs 13,93,85,000, inclusive of all duties and taxes.
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.
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The company's solar energy expertise extends from residential 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 1,454 crore and including the above orders its order book stands at Rs 465.32 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 82 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.