Solar Company Bags Order for Smart Solar Street Light System Worth Rs 7,36,05,840; Company to Announce Bonus Issue Tomorrow!

The company’s shares have delivered an impressive return of around 5500 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 been awarded a significant contract from District Panchayat Raj Officer, Bihar Smart Solar Street Light System, valued at Rs 7,36,05,840 (Seven Crore Thirty-Six Lakhs Five Thousand Eight Hundred Forty only) inclusive of all duties and taxes.  The said order is to be completed within 6 months as per the terms and conditions. Furthermore, the company has informed the Exchange about the Board Meeting to be held on 08-Aug-2024 to consider bonus shares.

Today the shares of Solex Energy Ltd closed at Rs 1573 per share. The company’s current market capitalization stands at Rs 1258.40 crore. The stock has delivered a multibagger return of around 150 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.