Solar Company Reports 147.23 Per Cent Revenue Growth & Robust Order Book of Rs 436.24 Crore In 9MFY25
The stock is up by 40 per cent from its 52-week low of Rs 342 per share.
On Monday, shares of Sahaj Solar Limited plunged 1.03 per cent to Rs 480 per share from its previous closing of Rs 485.05 per share. The stock’s 52-week high is Rs 790 and its 52-week low is Rs 342.
Sahaj Solar, a 2010-founded renewable energy company, manufactures solar PV modules in its 100 MW Gujarat plant. Offering mono, polycrystalline, and advanced PERC modules, the company caters to domestic and international markets. Beyond manufacturing, Sahaj Solar provides solar water pumping systems and comprehensive EPC services for residential to large-scale solar projects. Expanding its global reach, Sahaj Solar has incorporated a subsidiary in Uganda to harness solar energy for various consumers. The company is also actively involved in projects like BSF solar power plants and potential partnerships for solar module production. This dual focus on project execution and domestic manufacturing positions Sahaj Solar as a key player in the solar energy sector.
The Company reported a total revenue of Rs 178.22 crore for the nine months ended on December 2024. This represents a significant growth of 147.23 per cent compared to the same period in FY 2023-24. The Company's robust order book, valued at Rs 436.24 crore as of December 31, 2024, signals a positive business outlook driven by strong client relationships. The recent empanelment from Maharashtra State Electricity Distribution Company Limited (MSCDCL) is expected to further boost growth in the coming quarters. The Company remains focused on executing current orders while actively pursuing new opportunities in key markets.
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Recent Update: Sahaj Solar Limited launched its wholly-owned subsidiary, Sahaj PV Ancillary Private Limited, with Rs 1 lakh paid-up capital, to manufacture and distribute solar panels and components. Sahaj Solar also won two contracts: a Rs 60.34 crore project from MSEDCL for 2,000 off-grid solar water pumps (12-month completion) and a Rs 6.37 crore project from PEDA for 1797 KW of grid-connected solar power plants (105-day completion). Both projects include 5-year warranties.
The company has a market cap of over Rs 500 crore and shares have an ROE of 53 per cent & an ROCE of 40 per cent. The stock is up by 40 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.