Solar Inverters and Panel Company Secures Order Worth Rs 10.50 Crore for 1.3 Megawatts of Battery Energy Storage Systems from HPSEBL in Himachal Pradesh
Founded in 2010, GP Eco Solutions India Limited specializes in solar inverters and solar panels. The company has secured a total of Rs 10.50 crores in aggregate orders for 1.3 megawatts of Battery Energy Storage Systems (BESS) from HPSEBL in Himachal Pradesh.
On Monday, the shares of GP Eco Solutions India Limited closed at around Rs 262.90 per share on the NSE over 1 per cent down compared to Rs 265.75 per share. The company’s current market capitalization stands at Rs 307.88 crore. Additionally, the shares have delivered an impressive multibagger return of over 180 per cent compared to the final IPO price of Rs 94 each.
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Looking at the annual performance, GP Eco Solutions India Ltd generated a revenue of Rs 136 crore in FY24 representing a gain of 35 per cent YoY compared to Rs 101 crore. The operating profit for FY24 was Rs 12 crore with an operating profit margin of 9 per cent compared to Rs 4 crore with a margin of 4 per cent. The company reported a net profit of Rs 7 crore in FY24 compared to Rs 4 crore in FY23.
The company provides solar energy solutions, offering engineering, procurement, and construction (EPC) services to both commercial and residential customers. Additionally, it distributes hybrid solar inverters and lithium ferro-phosphate (LFP) batteries under its own brand, "Invergy." Invergy is also involved in the OEM manufacturing of hybrid and LFP products.
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Disclaimer: The article is for informational purposes only and not investment advice.