Solar Street Light Company Bags New Order Worth Rs 37,65,22,500 From Bihar Renewable Energy Development Agency
The company has a market cap of Rs 237 crore with an ROE of 78 per cent and an ROCE of 66 per cent.
Trom Industries Limited has made significant strides in its business growth with the recent acquisition of a substantial order worth Rs 37,65,22,500 from the Bihar Renewable Energy Development Agency (BREDA), a government entity under the Bihar State government. This order entails the empanelment of Trom Industries as an executing agency for a comprehensive project involving the design, supply, installation, testing, commissioning, and subsequent five-year comprehensive maintenance of Smart Solar Street Light Systems. These systems will be integrated with a Remote Monitoring System (RMS) and installed on existing electric poles under the "Mukhyamantri Gramin Solar Light Yojana" across various locations within Bihar. The order encompasses the installation of a substantial number of Solar Street Lights, with quantities specified as 4115, 4570 and 3660 units.
This order from BREDA follows a previous success achieved by Trom Industries Limited, where they secured a domestic order valued at Rs 1,38,18,533 from the Bhavnagar Municipal Corporation. This order focused on the supply and erection of LED Street Lighting systems, further solidifying the company's position in the street lighting market. These consecutive orders demonstrate Trom Industries' growing expertise and market presence in the renewable energy and sustainable infrastructure sectors.
Trom Industries Limited, established in 2011, is a prominent solar EPC company in India. Specializing in a diverse range of solar solutions, they cater to both residential and commercial sectors. Their expertise extends to residential rooftop installations, large-scale industrial solar power plants, ground-mounted solar power plants, and energy-efficient solar street lighting systems. Additionally, they offer a comprehensive product portfolio encompassing solar products like solar street lights, solar freezers, and solar water purifiers, as well as energy-efficient AC LED lighting solutions.
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The company reported Net sales at Rs 4,623.78 lakhs for the half year ended on September 30, 2024 as compared to Rs 2,327.35 lakh during the period ended on September 30, 2023 evidencing a turnover rise of 98.67 per cent The half-yearly results for September 30, 2024 evidenced a net Profit rose of 108.77 per cent to Rs 413.20 lakh as compared to Profit after tax for the period ended September 30, 2023 which stood at Rs 197.92 lakh.
The company has a market cap of Rs 237 crore with an ROE of 78 per cent and an ROCE of 66 per cent. The stock is up by 38 per cent from its 52-week low of Rs 195 per share. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.