Solar Stock Under Rs 50: Microcap Company Secures Rs 189 Crore Order, Stock Hits Upper Circuit – Complete Details Inside!
The company’s shares have delivered a multibagger return of over 100 per cent in just 1 year.
Incorporated in 2006, Surana Solar Ltd is engaged in the manufacturing of solar photovoltaic modules, the generation of wind and solar power, and the trading of other solar-related products.
Surana Solar Ltd has been awarded a Letter of Award (LOA) as a Solar Power Developer (SPD) for solar photovoltaic power generating stations with an aggregate capacity of 54 MW (AC) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. This scheme launched for feeder-level solarization under Component C of the PM-KUSUM Scheme, is awarded by Maharashtra State Electricity Distribution Co. Ltd, a Government of Maharashtra undertaking. The project will be located in Maharashtra.
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The project is to be completed within 12 months from the issuance of the Letter of Award (LOA), with an Operation and Maintenance period of 25 years from the Commercial Operation Date (COD). The aggregate order size is 54 MW (AC), with an estimated project cost of Rs. 189 Crores.
Today, the shares of Surana Solar Ltd rallied and hit the upper circuit and finally closed at around Rs 48.81 per share on the BSE. The company’s current market capitalization stands at Rs 240.18 crore. Additionally, the shares have delivered a multibagger return of over 100 per cent in Just 1 Year.
As per the Quarterly Results, Surana Solar Ltd recorded a revenue of Rs 11.36 crore compared to Rs 6.60 crore. The operating profit stood at Rs 0.47 crore. The net profit stood at Rs 0.28 crore compared to a profit of Rs 0.24 crore. Looking at the annual performance, the company generated a revenue of Rs 17.71 crore in FY24. The operating profit for FY24 was Rs 2.22 crore with an operating profit margin of 12.54 per cent. The company reported a net loss of Rs 1.26 crore in FY24.
According to the company's shareholding pattern, the promoters hold a 46.68 per cent stake while public investors own 53.10 per cent of the shares. FIIs increased their stakes to 0.20 per cent from 0.01 per cent while DIIs maintained their stake at 0.03 per cent.
Investors must keep this micro-cap solar company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.