PAT jumps 161.3 per cent & Stock up by 65.7 per cent from 52-week low: Solar stock hit 5 per cent upper circuit on November 06; Do own it?

The stock is up by 65.7 per cent from its 52-week low of Rs 342 per share.

On Wednesday, shares of Sahaj Solar Limited hit 5 per cent upper circuit to Rs 566.70 per share from its previous closing of Rs 539.75 per share. The stock’s 52-week high is Rs 790 and its 52-week low is Rs 342.

Sahaj Solar Limited is a renewable energy company established in 2010. Their primary operations involve manufacturing solar PV modules at their 100 MW capacity plant in Bavla, Ahmedabad, Gujarat. This facility produces mono and polycrystalline modules for domestic and international solar projects, including advanced PERC technology. Additionally, the company specialises in providing solar water pumping systems and offers comprehensive EPC services across India, ranging from small residential installations to large-scale solar power plants.

According to half-yearly results, the net sales increased by 61.2 per cent to Rs 98.12 crore and net profit increased by 161.3 per cent to Rs 4.77 crore in H1FY25 compared to H1FY24. In its annual results (FY24), the company reported net sales of Rs 201 crore  and net profit of Rs 13 crore.

Sahaj Solar Limited has taken a significant step towards expanding its global footprint by incorporating a subsidiary, Sahaj Renewable Power Limited, in Uganda. This new entity will focus on harnessing solar energy to cater to diverse consumers, including governments, state electricity boards, and industrial units. The company has also secured a contract with the BSF for installing two off-grid solar power plants and is actively exploring a partnership with Cliantech Solutions and Technologies LLP to establish a solar module production line. These initiatives underscore Sahaj Solar's commitment to both project execution and domestic manufacturing, positioning the company as a key player in the growing solar energy sector.

The company has a market cap of Rs 622.6 crore and shares have an ROE of 53 per cent and an ROCE of 40 per cent. The stock is up by 65.7 per cent from its 52-week low of Rs 342 per share. Investors should keep an eye on this solar pump stock.

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