Shares of Solar Energy Company Soar, Delivering Impressive Returns
Surana Solar Ltd (SSL) experienced a significant surge in its share price, reaching a 5% upper circuit limit at ₹56.47 per share, up from ₹53.79. This marks a remarkable increase from its 52-week low of ₹21.37, showcasing a return of 164.3% in just one year.
Financial Highlights
In Q2FY25, SSL reported a staggering 370.55% increase in net sales, totaling ₹1,454.01 lakh compared to Q2FY24. The company turned a net profit of ₹32.69 lakh, recovering from a loss of ₹145.27 lakh in the previous year. For H1FY25, net sales soared by 649% to ₹26.22 crore, with profits reaching ₹60.47 lakh.
Expansion Plans
SSL is set to raise ₹200 crore through equity issuance to fund expansions and the establishment of Surana Technologies Pvt. Ltd., aimed at enhancing its solar energy project portfolio.
Recent Contracts
The company secured a contract to develop 54 MW solar power stations under Maharashtra’s Mukhyamantri Saur Krishi Vahini Yojana 2.0, alongside a ₹4.25 crore order from Flick Microwaves Pvt Ltd for defense-related components.
Stock Performance Overview
SSL’s share price growth and strong financial performance have caught the attention of investors, positioning it as a compelling option among penny stocks.
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Summary at glance
Surana Solar Ltd’s shares surged 5% to ₹56.47, marking a remarkable rise from a 52-week low of ₹21.37, reflecting a 164.3% increase. The company reported impressive financial growth, with Q2FY25 net sales up 370.55% and a net profit of ₹32.69 lakh. It plans to raise ₹200 crore for expansion and has secured contracts for developing solar power stations. SSL’s strong performance has attracted many investors, highlighting its popularity in the penny stock market.
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