Sahaj Solar Ltd

Sahaj Solar announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 11 March 2025.Powered by Capital Market - Live

Sahaj Solar announced that the Board of Directors of the Company at its meeting held on 11 February 2025, has recommended a Interim dividend of Rs.1 per share (i.e.10%), subject to the approval of the shareholders.Powered by Capital Market - Live

Sahaj Solar will hold a meeting of the Board of Directors of the Company on 11 February 2025.Powered by Capital Market - Live

The order has been placed by Dakshin Gujarat Vij Company Limited (DGVCL) and is part of the PM-KUSUM Scheme (Component B) under the Ministry of New and Renewable Energy, Government of India. The NTP covers the full scope of work, including the design, manufacturing, supply, transportation, installation, testing, and commissioning of the off-grid standalone solar photovoltaic water pumping systems across the state. The project is scheduled to be completed within 120 days from the issuance of the NTP. Sahaj Solar is a solar solutions provider company with experience of more than a decade in the majority of the verticals of renewable power generation. The company is a manufacturing as well as a service provider company, which gives it an edge in the solar power market. The company is engaged in three businesses: PV module manufacturing, providing solar pumping systems, and providing EPC services. On a full-year basis, the company's net profit surged 111.4% to Rs 12.26 crore on a 2.1% drop in revenue to Rs 179.34 crore in FY24 over FY23. The scrip shed 0.38% to Rs 546.50 on the NSE. Powered by Capital Market - Live

The project involves the solarisation of existing 2 HP grid-connected agriculture pumps (IPS), including a 5-year guarantee, an annual maintenance contract, and insurance coverage on a turnkey basis in Tripura under PM-KUSUM Scheme (Component C) of the Ministry of New & Renewable Energy, Government of India. The consideration for this contract is Rs 36.42 crore, and it is to be executed within 12 months from the date of issuance of the LoA. Sahaj Solar is a solar solutions-provider company with experience of more than a decade in the majority of the verticals of renewable power generation. The company is a manufacturing as well as a service provider company, which gives it an edge in the solar power market. The company is engaged in three businesses: PV module manufacturing, providing solar pumping systems, and providing EPC services. On a full-year basis, the company's net profit surged 111.4% to Rs 12.26 crore on a 2.1% drop in revenue to Rs 179.34 crore in FY24 over FY23. Powered by Capital Market - Live

The scrip was listed at Rs 342, a premium of 90% over the initial public offer (IPO) price. The stock is currently frozen in its upper limit of 5% over its listing price. The counter hit a high of Rs 359.10 and a low of Rs 342. About 3.14 lakh shares of the company changed hands at the counter. Sahaj Solar's IPO was subscribed 338.78 times. The issue opened for bidding on 11 July 2024 and it closed on 15 July 2024. The price band of the IPO was set at Rs 171 to Rs 180 per share. The IPO comprised fresh issue of 29,20,000 shares. The promoter and promoter shareholding diluted to 71.28% from 97.08% pre-IPO. The company intends to utilize the net proceeds for working capital requirements, issue expenses and general corporate purposes. Ahead of the IPO, Sahaj Solar on 10 July 2024, raised Rs 14.83 crore from anchor investors. The board allotted 8.24 lakh shares at Rs 180 per share to three anchor investor. Gujarat-based Sahaj Solar is a renewable energy solution provider engaged majorly into three businesses being manufacturing of PV modules, providing solar water pumping systems and providing EPC services to its pan-India customers. The company sells solar PV modules under the brand name of 'SAHAJ'. As on 31 March 2024, company had 62 employees. The company recorded revenue from operations of Rs 201.17 crore and net profit of Rs 13.37 crore for the period as on 31 March 2024. Powered by Capital Market - Live