Stock Under Rs 35 & Hits Upper Circuit: Microcap Company Secures Order Worth Rs 855 Crore for Smart Solar Street Light System, It is Over 12.5 Times Its Market Capitalization!
The company’s shares have delivered an impressive return of over 50 per cent in just 1 year only.
Incorporated in 2013, Mehai Technology Ltd deals in electronic items and trading activities. The company operates as an electronics retail chain in Eastern India, offering customers a one-stop shop for all their electronics needs.
The company has recently secured a prestigious order from the Office of Sungevity Enterprises Private Limited (SEPL). The scope of work involves designing, supplying, installing, testing, and commissioning a Smart Solar Street Light System. This includes a Comprehensive Maintenance Contract (CMC) for 5 years with a Remote Monitoring System (RMS), to be implemented on identified existing electric poles under the 'Mukhyamantri Gramin Solar Street Light Yojana' in Bihar.
The order is for 300,000 solar streetlights, valued at approximately Rs 855 crore. The work order is effective from the date of the agreement signing. The scope also encompasses supplying solar street lighting systems according to tender specifications, including components like 20W luminaries, 12.8V 54AH Lithium Ferro phosphate batteries, and 120W polycrystalline solar PV modules.
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Mehai Technology Ltd shares closed the day at around Rs 30.75 per share. The company’s current market capitalization stands at Rs 67.07 crore. The stock has delivered a return of over 50 per cent in the past 1 year.
As per the Quarterly Results, in the fourth quarter of FY24, Mehai Technology Ltd recorded a revenue of Rs 4.38 crore. The operating profit for Q4 FY24 stood at Rs 0.80 crore. The net profit for Q4 FY24 was Rs 0.21 crore. Looking at the annual performance, the company generated a revenue of Rs 14.91 crore in FY24, compared to Rs 8.76 crore in FY23. The operating profit for FY24 was Rs 2.04 crore with a net profit of Rs 0.58 crore.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.