Solar Manufacturer Secures Orders Worth Rs 10,68,94,138 From Jharkhand Renewable Energy Development Agency, Stock Gains Over 100 Per cent in Just 6 Months!

The company’s shares have delivered an impressive return of over 100 per cent to its shareholders in just 6 months.

Australian Premium Solar (India) Limited has received a Letter of Award for a work order worth Rs 10,68,94,138 from the Jharkhand Renewable Energy Development Agency (JREDA). This order involves supplying 512 Solar Water Pumping Systems (SWPS) on a turnkey basis for irrigation purposes across various districts in Jharkhand, as part of Component-B of the PM-KUSUM Scheme, Phase III.

Incorporated in 2013, Australian Premium Solar (India) Limited manufactures monocrystalline and polycrystalline solar modules. The company also offers engineering, procurement, and construction (EPC) services tailored for residential, agricultural, and commercial sectors.

Today, the shares of Australian Premium Solar (India) Limited closed at around Rs 479 per share. The company’s current market capitalization stands at Rs 945.55 crore. Additionally, the shares have delivered a multibagger return of over 100 per cent in the past 6 months only.

As per the Quarterly Results, in Q4 FY24, Australian Premium Solar (India) Limited recorded a revenue of Rs 69 crore from Rs 47 crore. The operating profit for Q4 FY24 stood at Rs 5 crore. The net profit for Q4 FY24 stood at Rs 4 crore compared to a profit of Rs 2 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 150 crore in FY24. The operating profit for FY24 was Rs 9 crore with a net profit of Rs 6 crore compared to a net profit of Rs 3 crore in FY23.

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

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