Stock doubled in just 17 days: Solar water pump manufacturer bags new order worth Rs 16.03 crore from Dakshin Gujarat Vij Company Ltd
The company has a market cap of over Rs 700 crore and shares have an ROE of 53 per cent and an ROCE of 40 per cent.
Sahaj Solar Limited has secured a Rs. 16.03 crore (inclusive of GST) contract from Dakshin Gujarat Vij Co. Ltd. (DGVCL) to design, manufacture, supply, transport, install, test, and commission off-grid standalone solar photovoltaic water pumping systems under Component-B of the PM-KUSUM scheme. This domestic order, awarded to the company, entails project completion by March 2025, and Sahaj Solar Limited has subsequently agreed with DGVCL to formalize the arrangement.
The company has previously announced securing a Rs 48.22 crore (inclusive of GST) order from the Maharashtra Energy Development Agency (MEDA) for a turnkey off-grid solar photovoltaic water pumping system (SPWPS) for irrigation purposes under MNRE Component B of the PM-KUSUM scheme. This domestic order involves the design, manufacture, supply, transport, installation, testing, and commissioning of the system. The company has formalized this agreement with MEDA.
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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, including advanced PERC technology, for domestic and international solar projects. Additionally, the company specializes 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 over Rs 700 crore and shares have an ROE of 53 per cent and an ROCE of 40 per cent. On Monday, shares of Sahaj Solar Ltd gained 17 per cent and made a fresh 52-week high of Rs 690 per share from its previous closing of Rs 589.75 per share. The stock was listed on July 19, 2024, and since then, the stock has given multibagger returns of over 100 per cent in just 17 days. 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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