Mulltibagger from its 52-week low: This debt-free solar energy solutions provider bags new order worth Rs 1,10,00,000 from BSES Rajdhani Power Limited
The stock has an ROE of 65.7 per cent and a ROCE of 58.4 per cent.
Ahasolar Technologies Limited has been awarded a consultancy order worth approximately Rs 1,10,00,000 by BSES Rajdhani Power Limited, a domestic entity in India. This one-year project involves Ahasolar designing, engineering, and creating technical drawings for a website and mobile platform dedicated to solar energy applications. Ahasolar will also be responsible for maintaining these platforms to ensure they function smoothly and provide a positive user experience. This project highlights Ahasolar's expertise in providing comprehensive technology solutions for the solar energy sector, and their ability to deliver such services to major clients in the energy industry.
Ahasolar Technologies Limited is engaged in the business of cleantech enabling energy transition through digital transformation. The company has a market capitalization of over Rs 150 crore and is currently debt-free.
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.
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Today, shares of Ahasolar Technologies Ltd hit a 5 per cent upper circuit to Rs 516.15 per share from its previous closing of Rs 491.60. The stock’s 52-week high is Rs 657.75 and its 52-week low is Rs 203. The shares of the company saw a spurt in volume by more than 1.40 times on BSE.
The stock has an ROE of 65.7 per cent and a ROCE of 58.4 per cent. The stock gave multibagger returns of over 150 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.
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