Solar Company Bags New Order Worth Rs 2,84,50,000 From Aarvee Denims & Exports Limited
The stock is up by 23 per cent from its 52-week low of Rs 195 per share.
Trom Industries Limited has secured a significant contract from Aarvee Denims & Exports Limited, a domestic entity, for the supply, design, installation, testing, and commissioning of a 1 MW Grid-Connected Solar Rooftop Power Plant. This domestic order, valued at Rs 2,84,50,000 including GST, is expected to be executed in a phased manner within the current financial year. Additionally, in recent times, the company was awarded solar projects contracts worth Rs 3,310 lakh from Gujarat Metro Rail Corporation Limited (GMRC) and Corona Remedies Pvt Ltd
The company reported Net sales at Rs 4,623.78 lakhs for the half year ended on September 30, 2024 as compared to Rs 2,327.35 lakh during the period ended on September 30, 2023 evidencing a turnover rise of 98.67 per cent The half-yearly results for September 30, 2024 evidenced a net Profit rose of 108.77 per cent to Rs 413.20 lakh as compared to Profit after tax for the period ended September 30, 2023 which stood at Rs 197.92 lakh.
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Trom Industries Limited, established in 2011, is a prominent solar EPC company in India. Specializing in a diverse range of solar solutions, they cater to both residential and commercial sectors. Their expertise extends to residential rooftop installations, large-scale industrial solar power plants, ground-mounted solar power plants, and energy-efficient solar street lighting systems. Additionally, they offer a comprehensive product portfolio encompassing solar products like solar street lights, solar freezers, and solar water purifiers, as well as energy-efficient AC LED lighting solutions.
The company has a market cap of Rs 220 crore with an ROE of 78 per cent and an ROCE of 66 per cent. The stock is up by 23 per cent from its 52-week low of Rs 195 per share. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.