Solar Pumps Manufacturing Company Entered into Share Sale Agreement with Teras New and Renewable Energies LLP
The company has a market cap of Rs 696 crore and shares have an ROE of 53 per cent and an ROCE of 40 per cent.
Sahaj Solar Limited has announced that its Board of Directors has approved the sale of its entire stake in Sustainable Planet Green Energies Private Limited (SPGEPL) to Teras New and Renewable Energies LLP (TNARE LLP). The sale will be completed in one or more tranches for Rs. 6.86 per share, totalling Rs 3,84,846. Upon completion, SPGEPL will no longer be a subsidiary of Sahaj Solar Limited. The buyer, TNARE LLP, is engaged in the manufacture of electricity distribution and control apparatus and is not related to the promoter or promoter group of Sahaj Solar Limited. The sale transaction does not fall under related party transactions.
Additionally, Sahaj Solar Limited has secured significant contracts in the renewable energy sector, totalling approximately Rs 58.83 crore. They have been awarded a USD 3.9 million EPC contract to construct up to 60 solar PV grid-connected micro-power plants in Zambia for Wincyril Enterprises Limited. Additionally, they have received contracts to install solar dual drinking water pumps in Maharashtra for Jilla Parishad Nandurbar and off-grid solar photovoltaic water pumping systems in Tripura for TREDA, valued at approximately Rs 19.99 crore and Rs 6.21 crore respectively. These projects demonstrate Sahaj Solar's commitment to renewable energy and its growing presence in the market.
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About the Company
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.
The company has a market cap of Rs 696 crore and shares have an ROE of 53 per cent and an ROCE of 40 per cent. The stock is up by 92 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.
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