Microcap multibagger company bags order from MPCB worth Rs 9.8 crore, Stock up 158 per cent since listing!

This project holds particular importance given the rising concerns about indoor air pollution and its impact on public health

Techknowgreen Solutions Ltd., a leading Indian environmental consulting firm, has bagged a significant new project worth Rs 9.81 crore (including applicable taxes) from the Maharashtra Pollution Control Board (MPCB). This win marks a positive step forward for the company, not only in terms of immediate revenue but also in its strategic growth plans.

Details of the Order:

• Value: Rs 9.81 crore + applicable taxes
• Client: Maharashtra Pollution Control Board (MPCB)
• Project: Evaluation of Air Quality in different Indoor Environments in Mumbai Metropolitan Region (MMR)
• Duration: 15 months
• Payment Schedule: 25 per cent, 30 per cent, 30 per cent, 15 per cent in four stages

What's the Project About?

Techknowgreen will be responsible for assessing the air quality within various indoor spaces across Mumbai's sprawling metropolitan region. This project holds particular importance given the rising concerns about indoor air pollution and its impact on public health. The company will specifically focus on:

• Representative sampling: Assessing air quality in areas with varying levels of pollution, including non-attainment zones and critically impacted regions.
• Identifying trends: Understanding patterns and factors influencing indoor air quality across the MMR.
• Developing solutions: Formulating best practices and recommendations for improving indoor air quality within the region.

Market Opportunity and Growth Strategy:

This project aligns perfectly with Techknowgreen's growth strategy, which targets high-value government contracts and leverages its expertise in cutting-edge environmental solutions. The company sees a vast market opportunity in:

• Sustainability: Growing government and corporate spending on environmental initiatives.
• Environmental consultancy: Estimated USD 8 billion market opportunity in India for Techknowgreen's core offerings.
• Technology: Emerging solutions like environmental monitoring and data centre permits.

To capitalize on this potential, Techknowgreen plans to:

• Focus on big-ticket projects: Bidding on larger government contracts related to carbon neutrality, climate resilience, and city planning.
• Upgrade R&D infrastructure: Strengthening its in-house team and collaborating with leading academic institutions.
• Develop annuity business: Expanding its recurring revenue streams through services like environmental compliance and ESG solutions.

About Techknowgreen Solutions Ltd.:

With over 20 years of experience, Techknowgreen is a prominent player in India's environmental consulting sector. They offer a comprehensive range of services, including:

• Consulting: Regulatory compliance, environmental due diligence, impact assessments, and more.
• Technology: Proprietary software applications, IoT devices, and wastewater/air quality solutions.
• Research & Development: Policy and engineering research focused on environmental sustainability.

The company boasts a diverse client base across various industries and government agencies. Their recent IPO on the BSE SME platform in September 2023 reflects their growth aspirations.

Conclusion:

This Rs 9.81 crore order from MPCB is a significant win for Techknowgreen, demonstrating their expertise and positioning them well for future growth. With their strategic focus on high-value projects, technological advancements, and recurring revenue streams, the company is poised to capitalize on the burgeoning environmental market in India and beyond.

Shares of Techknowgreen Solutions Ltd are trading at Rs 224.7. The stock has made a high of Rs 356 since listing on BSE as an SME IPO with listing price of Rs 87. The stock has delivered multibagger returns of 158.28 per cent since listing on September 27, 2023. Thus, investors should keep an eye on this multibagger microcap stock!

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