This Solar Panel Company Secures Order Worth Rs 9,44,60,828: Stock Gains Over 5600 per cent!

The company’s shares have delivered an impressive return of over 240 per cent in just 1 year.

Solex Energy Limited specializes in manufacturing solar panels and other renewable energy devices, as well as providing installation services on an EPC basis. The company's product range includes mono/multi-crystalline solar photovoltaic modules, solar lanterns, solar streetlights, solar water pumps, and solar inverters.

Today, Solex Energy Limited has secured a Work Order under the "Mukhyamantri Gramin Solar Street Light Yojna" in Supaul District, Bihar. The order entails supplying 3,080 units valued at Rs. 9,44,60,828 (Nine Crore Forty-Four Lakhs Sixty Thousand Eight Hundred and Twenty-Eight Only), inclusive of all duties and taxes.

The contract must be completed within six (6) months from the issuance of the order. The nature of the contract involves designing, supplying, installing, testing, commissioning, and providing Comprehensive Maintenance Services (CMS) for 5 years, including a Remote Monitoring System (RMS), for the Smart Solar Street Light System.

Share Performance:

Today Solex Energy Limited shares closed the day at Rs 1442 per share. The company’s current market capitalization stands at Rs 1153.60 crore. The stock has delivered a return of over 240 per cent in the past 1 year.

Financial performance:

According to the Quarterly Results, in Q4 FY24, Solex Energy Limited reported a revenue of Rs 273 crore and an operating profit of Rs 20 crore. The operating profit margin for the quarter stands at 7 per cent. The company’s net profit stood at Rs 8 crore. In FY24, the company reported a revenue of Rs 366 crore compared to Rs 161 crore and a net profit of Rs 9 crore, compared to a profit of Rs 3 crore in the previous year.

Investors must keep this Small-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.