65 per cent from its 52-week low: This micro-cap company receives order worth Rs 60,00,000 from Ernst and Young LLP!

The stock has an ROE of 65.7 per cent and a ROCE of 58.4 per cent.

Ahasolar Technologies Ltd informed that has received a work order for professional services for solar and new & innovative solar application (NISA) content development and capacity building for multiple states across India, to be developed under the guidance of GIZ and MNRE, Government of India. The order is worth Rs 60,00,000 and will be completed within June 30, 2025.  

Ahasolar Technologies Ltd is experiencing a surge in renewable energy contracts, securing two major projects within a short timeframe. The company was awarded a work order for PMC services and site supervision services from Hindustan Petroleum Corporation Limited, valued at Rs 9,00,000 and expected to be completed within a year.

This follows their recent contract with Gujarat Energy Development Agency, Gandhinagar, for the development and maintenance of a comprehensive RE Portal to streamline applications for solar, wind, and hybrid projects, integrating seamlessly with the existing solar rooftop portal worth Rs 55,00,000. Both projects have a one-year timeline from the Letter of Intent, solidifying Ahasolar's position as a key player in the renewable energy sector.

According to the half-yearly results (H1FY24), the net sales increased by 31 per cent to Rs 12.88 crore compared to H1FY23. The company reported a net loss of Rs 0.77 crore in H1FY24 compared to a net profit of Rs 0.16 crore. In its annual results, the sales increased by 820 per cent to Rs 20.87 crore and the net profit increased by 103 per cent to Rs 1.60 crore in FY23 compared to FY22.

Today, at the closing bell, shares of the company plunged 2.69 per cent to Rs 334.05 per share from its previous closing of Rs 343.30. The stock’s 52-week high is Rs 473 and its 52-week low is Rs 203.

Ahasolar Technologies Limited is engaged in the business of cleantech enabling energy transition through digital transformation. The company has a market capitalization of Rs 102.96 crore and is currently debt-free.

The stock has an ROE of 65.7 per cent and a ROCE of 58.4 per cent. The stock is up by 65 per cent from its 52-week low of Rs 203 per share. Investors should keep an eye on this micro-cap SME IPO stock.

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