This Rising SME Stock Secures Rs 33 Crore Order from Gujarat Metro Rail Corporation
Leading Solar EPC Company Bags Key Projects with GMRC and Corona Remedies, Eyes Rapid Growth Amid Stellar Financial Performance
Trom Industries, a prominent solar EPC company from Gujarat, has recently landed two significant orders, adding momentum to its rapid growth in the renewable energy sector. The first, a Work Order valued at Rs 20.70 crore, comes from the Gujarat Metro Rail Corporation (GMRC) Limited for a 5 MW solar project across 15 stations of Ahmedabad Metro’s Phase II. Additionally, Trom received a Rs 12.40 crore purchase order from M/s. Corona Remedies Private Limited to install a Grid Connected Ground Mounted Solar PV Plant. Both projects are set to be completed within the current financial year.
Expanding Footprint in Solar EPC Projects
Trom Industries specializes in solar EPC (Engineering, Procurement, and Construction) services, with projects spanning residential, industrial, and commercial solar installations. The GMRC project scope includes feasibility studies, engineering, supply, and construction for a 5 MW AC grid-connected rooftop solar system, a major step in greening Ahmedabad’s metro infrastructure. For Corona Remedies, Trom will install a 4.25 MW DC & 3.57 MW AC ground-mounted solar plant, further strengthening its industrial project portfolio.
NSE SME Listing and Strong Financial Growth
In a significant milestone, Trom Industries was listed on the NSE SME platform on August 1, 2024. The IPO aimed to raise Rs 31.37 crore, funding Trom's expansion into solar power and meeting working capital needs. The IPO offered 27.28 lakh shares at Rs 100-115 per share, marking a strong entry into the stock market and signaling investor confidence in the company’s growth.
DSIJ offers a service 'Flash News Investment' with recommendations for Profit-making Ideas for You (Weekly) based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the service details pdf here
Impressive Financial Performance in FY 2024
Trom Industries has shown remarkable financial results, achieving Rs 54.54 crore in revenue and Rs 5.72 crore in net profit as of March 2024. The company’s revenue surged by 125.98 per cent, while its profit after tax soared by 1885.2 per cent compared to the previous fiscal year. The gross profit margin increased to 29 per cent, and operational profit margin (OPM) rose to 15.26per cent, with a net profit margin (NPM) of 9.26 per cent.
About Trom Industries
Founded in 2011, Trom Industries Ltd is an innovative player in the renewable energy sector, providing sustainable solar solutions across residential, commercial, and industrial sectors. With a team of experts and a proven track record in large-scale solar installations, Trom is shaping the future of India’s solar energy landscape, advancing toward a cleaner, greener tomorrow.