High ROE & high ROCE stock: This micro-cap company receives order worth Rs 21,00,000 from National Solar Energy Federation of India!

The stock is up by 35 per cent from its 52-week low.

Ahasolar Technologies Ltd informed that has received a work order for carry out the solar rooftop awareness campaign in Lucknow from National Solar Energy Federation of India, New Delhi. The order is worth Rs 21,00,000. The order will be completed in 60 days from LOI.

Earlier, the company has received a work order for consultancy services of detailed project report and bid process management with respect to the solar power plant project at Mormugao Port Authority. The order is worth Rs 18 lakh. The order is received from Goa Energy Development Agency which will be completed in 90 days or 3 months from LOI.

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 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.

On Monday at the closing bell, shares of the company surged 0.40 per cent to Rs 262.95 per share with an intraday high of Rs 273 and an intraday low of Rs 260. 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 81 crores 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 35 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.