Solar Company Secures 750 MW Order in Major Solar Module Expansion with Cliantech Solutions – Stock Rallied Around 3 Per cent on Friday
The company’s shares have delivered an imparessive return of over 275 per cent to its shareholders.
Sahaj Solar Limited, founded in 2010, specializes in renewable energy solutions. It produces mono and polycrystalline PV modules, including mono PERC modules, for domestic and international solar projects.
Sahaj Solar Limited has engaged in discussions with Cliantech Solutions and Technologies LLP to establish a 1.5 GW solar module production line. The agreement includes an initial order for 750 MW of solar modules, which Sahaj Solar confirmed on Thursday, October 3, 2024. The remaining 750 MW is set to be commissioned following the second quarter of 2025.
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On Friday, the company’s shares closed the day at Rs 615 each on the NSE. The company's current market capitalization stands at Rs 675.54 crore, and the stock has generated an impressive multibagger return of over 275 per cent compared to its final IPO issue price of Rs 180.
Looking at the company's annual performance, in FY24 Sahaj Solar Limited reported revenue of Rs 201 crore compared to Rs 185 crore in FY23. The company reported an operating profit of Rs 24 crore with an operating profit margin of 12 per cent. The company’s net profit stood at Rs 13 crore in FY24 compared to Rs 6 crore.
Investors must keep this Small-Cap solar company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.