Solar Manufacturer Secures Order Worth Rs 50,00,00,000 From Uttar Gujarat Vij Company – Delivered Multibagger Return in Just 6 Months!
The company’s profit doubled in FY24 while surged 6 times in the past 4 years only.
Australian Premium Solar (India) Limited has received its first-ever Letter of Intent (LOI) from Uttar Gujarat Vij Company Limited (UGVCL) through a competitive bidding process. The LOI is for the solarization of agricultural feeders with a total capacity of 12.5 MW, valued at approximately Rs 50 crore. This project falls within UGVCL's supply area under the PM-KUSUM Scheme's Component C, focusing on feeder-level solarization through the RESCO model.
Incorporated in 2013, Australian Premium Solar (India) Limited is a Small-Cap company that manufactures monocrystalline and polycrystalline solar modules. The company also offers engineering, procurement, and construction (EPC) services tailored for residential, agricultural, and commercial sectors.
Australian Premium Solar (India) Limited's shares are currently trading at around Rs 479 per share. The company’s current market capitalization stands at Rs 945.55 crore. Additionally, the shares have delivered a multibagger return of over 100 per cent in the past six months only.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
The company doesn’t provide Quarterly Results while as per half-yearly results in March 2024, Australian Premium Solar (India) Limited recorded a revenue of Rs 69 crore from Rs 47 crore. The operating profit stood at Rs 5 crore. The net profit stood at Rs 4 crore compared to a profit of Rs 2 crore last year in the same period. Looking at the annual performance, the company generated a revenue of Rs 150 crore in FY24. The operating profit for FY24 was Rs 9 crore with a net profit of Rs 6 crore compared to a net profit of Rs 3 crore in FY23 representing a gain of 100 per cent YoY.
Investors must keep this company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.