Solar Company Bags Orders for Solar Roof Mount Power Plant and Smart Solar Street Light System Worth Rs 13,37,63,934; Company to Announce Bonus Issue on August 8!
The company’s shares have delivered an impressive return of around 5300 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 two significant contracts. The first is a Work Order from APAR Industries Limited for a 1,217 kW Solar Roof Mount Power Plant, valued at Rs. 3,53,16,123 (Three Crore Fifty-Three Lakh Sixteen Thousand One Hundred Twenty-Three), including all duties and taxes.
The second contract is from the District Panchayat Raj Officer, Patna, for a Comprehensive Maintenance Contract (CMS) for five years, including a Remote Monitoring System (RMS) for a Smart Solar Street Light System. This contract is valued at Rs 9,84,47,811 (Nine Crore Eighty-Four Lakh Forty-Seven Thousand Eight Hundred Eleven), also inclusive of all duties and taxes.
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Furthermore, the company has informed the Exchange about Board Meeting to be held on 08-Aug-2024 to consider bonus shares.
On Friday Solex Energy Ltd shares closed at Rs 1510 per share. The company’s current market capitalisation stands at Rs 1208 crore. The stock has delivered a multibagger return of around 165 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.