This Solar Panel Manufacturer Bags Order Worth Rs 3,06,69,100 for Smart Solar Street Light System, Stock Hits Upper Circuit Today!

The company’s shares have delivered an impressive return of over 6000 per cent in the past 5 years.

Solex Energy Ltd manufactures solar panels and other renewable energy devices and also specializes in installing systems on an Engineering, Procurement, and Construction (EPC) basis.

Solex Energy Ltd has received a Work Order from the District Panchayat Raj Officer in Aurangabad for a Comprehensive Maintenance Contract (CMS) including a Remote Monitoring System (RMS) for a Smart Solar Street Light System. The total value of the contract is Rs 3,06,69,100 (Three Crore Six Lakhs Sixty-Nine Thousand One Hundred only), inclusive of all duties and taxes.

Today Solex Energy Ltd shares are trading at Rs 1576.90 per share. The company’s current market capitalization stands at Rs 1261.52 crore. The stock has delivered a return of over 175 per cent in just 6 months.

As per the Quarterly Results, in the fourth quarter of FY24, Solex Energy Ltd recorded a revenue of Rs 273 crore. The operating profit for Q4 FY24 stood at Rs 20 crore. The net profit for Q4 FY24 was Rs 8 crore. Looking at the annual performance, the company generated a revenue of Rs 366 crore in FY24, compared to Rs 161 crore in FY23. The operating profit for FY24 was Rs 28 crore, with a net profit of Rs 9 crore.

Solex Energy Ltd manufactures mono/multi-crystalline solar photovoltaic modules, solar lanterns, solar streetlights, solar water pumps, and solar inverters. They offer solar solutions to residential, commercial, utility, and governmental/non-governmental organizations. Additionally, the company is involved in the Engineering, Procurement, and Construction (EPC) business for solar power plants catering to both residential and commercial sectors.

Investors must keep this Small-Cap stock on their radar.

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