This micro-cap solar service provider bags order worth Rs 25,00,000 from Hindustan Petroleum, complete details inside!

The stock has delivered a remarkable return of over 58 per cent in just six months only.

In a significant development in India's renewable energy landscape, the pioneering player in CleanTech and digital transformation for energy transition, has bagged a substantial consultancy contract with Hindustan Petroleum Corporation Limited (HPCL). The contract entails providing consultancy services for site supervision and project management consultancy (PMC) for a solar plant project located in Maharashtra. The contract is valued at Rs 25 lakh and is set to be executed within 1 year.

Ahasolar Technologies Limited has been steadfastly committed to facilitating the adoption of solar energy through innovative software solutions, advisory services, and a robust marketplace connecting solar PV installers and manufacturers. With a pan-India presence and a mission to make a substantial impact in the solar ecosystem, Ahasolar Technologies has positioned itself as a frontrunner in the CleanTech sector.

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Share Performance:

On Tuesday, the company's stock closed at around Rs 381.60 per share, with a market capitalisation of Rs 117.62 crore. Additionally, the stock has delivered a return of around 58 per cent in the past six months only. In terms of shareholding pattern, as of March 2024, Ahasolar Technologies' promoters maintain a steady 36.95 per cent stake in the company, reflecting their continued commitment to its growth trajectory. The public ownership stands at 63.05 per cent as per the recent update.

Financial performance:

According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 29.16 crore and a net profit of Rs 0.81 crore. In FY24, the company reported a revenue of Rs 42.04 crore and a net profit of Rs 0.04 crore, compared to a net profit of Rs 1.60 crore in the previous year.

Investors must keep this micro-cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.