Rs 1,300 crore order book: Solar company bags new order worth Rs 236,80,60,596.48 from Rajasthan Renewable Energy Corporation Ltd
The stock gave multibagger returns of 357.4 per cent from its 52-week low of Rs 123 per share.
On Monday, shares of Teerth Gopicon Limited hit a 5 per cent upper circuit to Rs 562.55 per share from its previous closing of Rs 535.80 per share. The stock’s 52-week high is Rs 774 per share and its 52-week low is Rs 123 per share.
Teerth Gopicon Limited (TGL) is proud to announce the awarding of a significant project by Rajasthan Renewable Energy Corporation Ltd. (RREC) for the design, supply, erection, testing, and commissioning of Rooftop Solar (RTS) Photovoltaic Power Projects on state government buildings across Rajasthan. This project, valued at Rs 236,80,60,596.48 (₹236.81 crores), also includes comprehensive operation and maintenance (O&M) for 25 years under the Hybrid Annuity Mode (HAM). The project spans multiple districts, with capacities of 11 MW in Baran and 26 MW in Pali, bringing the total scope to 37 MW. The contract underscores TGL’s commitment to renewable energy and marks the company's first foray into large-scale government solar rooftop projects.
The comprehensive financial structure includes Rs 169.35 crores allocated for design, supply, erection, testing, and commissioning, and Rs 67.45 crores earmarked for the 25-year O&M phase. Notably, the O&M consideration will escalate by 3% annually from the second year onwards after the commissioning date, reflecting a robust growth trajectory. This project, expected to be executed within 12 months, represents a monumental step in TGL’s journey toward bolstering India’s renewable energy infrastructure while creating value for stakeholders.
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Teerth Gopicon Ltd., established in 2019, is a certified all-class civil and electrical contractor specializing in engineering construction and development. The company primarily focuses on infrastructure projects, particularly roads, sewerage and water distribution systems, in Madhya Pradesh, with a growing presence in other states. TGL has a strong track record of executing projects for both government and private sector clients, offering comprehensive EPC services including detailed engineering, procurement, construction and operation & maintenance.
The company has a market cap of Rs 675 crore and including the above order the company’s order book exceeds over Rs 1,300 crore. The stock gave multibagger returns of 357.4 per cent from its 52-week low of Rs 123 per share. Investors should keep an eye on this SME stock.
Disclaimer: The article is for informational purposes only and not investment advice.