Over 50 per cent Returns in 6 Months: This Solar Company Receives a LOA for project under PM-KUSUM Scheme from TREDA!
The company’s shares have delivered an impressive return of over 57.13 per cent in last 6 months.
Sahaj Solar Ltd's share price today soared as much as 4.56 per cent to Rs 537 per share on the National Stock Exchange (NSE). At 12:05 PM, Sahaj Solar shares were trading near day’s high on the NSE as against a 0.9 per cent rise in the Nifty today.
Sahaj Solar Ltd has been awarded a project under the PM-KUSUM Scheme (Component C) by the Tripura Renewable Energy Development Agency (TREDA). The company received a Letter of Award (LoA) for the solarisation of existing 2 HP grid-connected agriculture pumps across Tripura.
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The project includes a five-year guarantee/warranty, an annual maintenance contract, and insurance coverage, ensuring comprehensive support for the solar-powered pumps. The project aligns with the Ministry of New and Renewable Energy's objectives to enhance energy efficiency and sustainability in the agricultural sector.
The total contract value stands at Rs 36.42 crore, inclusive of GST. This development highlights Sahaj Solar’s expanding role in renewable energy projects and its commitment to driving sustainable energy solutions across India.
Sahaj Solar Ltd. provides renewable energy solutions, primarily solar photovoltaic modules, solar water pumping systems, engineering, procurement, and construction services. The firm also manufactures and supplies solar panels and allied products.
The company reported strong financial performance for the period ending September 2024, driven by robust growth in sales and profitability. Sales increased from Rs 61 crore in September 2023 to Rs 98 crore in September 2024, registering a year-on-year growth of 60.66 per cent. Net profit surged from Rs 2 crore to Rs 5 crore during the same period, reflecting an impressive 150 per cent growth. Additionally, the operating profit margin improved from 7per cent to 9per cent, while earnings per share rose from Rs 2.34 to Rs 4.28, highlighting the company’s efficient cost management and enhanced operational performance.
The shares of the company have a PE of 44.8x whereas the industry PE is 66.2x. The company has a good return on equity (ROE) track record: 3 Years ROE 42.5 per cent. Mutual Fund Holding increased by 71.28 per cent in September. The stock has given 57.13 per cent returns in the last 6 months.
Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.