Debt-Free Microcap Solar Company Bags Order Worth Rs 65,00,000 from REC Ltd – Stock Hits Upper Circuit on Friday!
Incorporated in 2017, Ahasolar Technologies Limited operates in the CleanTech sector, facilitating the energy transition through digital transformation.
The company has received a work order to provide technical assistance and IT support for the development of the National Portal under the PM Surya Ghar: Muft Bijli Scheme, which also includes grievance management support. The order was awarded by REC Limited, a Maharatna company, and the National Programme Implementation Agency (NPIA) for the PM Surya Ghar: Muft Bijli Yojana. The consultancy service is valued at approximately Rs 65 lakh and is to be completed within 9 months.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
On Friday, Ahasolar Technologies Limited shares rallied, hit the upper circuit, and closed the day at around Rs 351.75 per share. The company’s current market capitalization stands at Rs 108.42 crore.
The company doesn’t provide Quarterly Results and as per the half yearly results in March 2024, Ahasolar Technologies Limited recorded a revenue of Rs 29.16 crore. The operating profit for the period stood at Rs 0.64 crore. The net profit was Rs 0.81 crore. Looking at the annual performance, the company generated a revenue of Rs 41.92 crore in FY24, compared to Rs 20.87 crore in FY23. The operating loss for FY24 was Rs 0.24 crore with a net profit of Rs 0.04 crore.
The business of Ahasolar Technologies Limited spans across several key segments. Firstly, it specializes in developing software tailored for Solar PV installers and government agencies, facilitating efficient management and operation in the solar energy sector. Secondly, the company offers advisory and technical consultancy services aimed at supporting the development of solar power plants, ensuring optimal project implementation and performance. Additionally, it operates a nationwide marketplace that connects Solar PV installers and manufacturers, playing a significant role in enhancing the solar ecosystem across India.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.