Penny stock surges by 5% after securing a ₹16 crore order for solar projects, triggering the upper circuit limit
Penny stock: Sharika Enterprises Limited is a penny stock company that specializes in providing consultancy and services in engineering, construction, and project execution within the power and telecom sectors. Recently, the company’s stock experienced a 5 percent surge, hitting an upper circuit after securing a lucrative order worth Rs. 15.58 crore from NHPC Limited for the development of a rooftop solar power project.
The stock price movement of Sharika Enterprises Limited saw a significant increase, with shares reaching an upper circuit of Rs. 20.74 per share, up from the previous closing price of Rs. 19.76 per share. Currently, the stock is trading at Rs. 20.50 per equity share, reflecting the positive impact of the recent contract win.
The contract secured by Sharika Enterprises Limited from NHPC Limited involves the development of 4 MW rooftop solar power projects in various locations in Jammu & Kashmir under the PM Surya Ghar: Muft Bijli Yojna. The project includes a nine-month EPC execution period and a five-year comprehensive O&M phase, highlighting the company’s contribution to India’s renewable energy sector.
In addition to the recent contract win, Sharika Enterprises Limited has also secured other significant orders. On January 20, 2025, the company secured a Rs. 5.74 crore contract from POWERGRID Energy Services Limited for the supply and installation of rooftop solar systems in Ladakh, Rajasthan, and the Northern Region. Furthermore, on December 26, 2024, the company received orders worth Rs. 8.29 crore from JSW Renew Energy entities for underground cable supply and installation projects in Karnataka and Maharashtra.
Moreover, on December 28, 2024, Sharika Enterprises Limited announced pilot projects worth over Rs. 8 crore for converting 33kV overhead lines into underground cabling systems in Maharashtra and Karnataka. These projects showcase the company’s commitment to innovation and sustainability in the energy sector.
Business Operations:
Our company specializes in providing management consultancy services for the power sector, project execution services, and engineering procurement and construction (EPC) contracts. We offer comprehensive solutions aimed at enhancing operational efficiency and infrastructure development.
Recent Quarter Results:
In the most recent quarter, Sharika Enterprises Limited has seen a significant increase in revenue, rising from Rs. 11.57 crore in Q2 FY24 to Rs. 24.46 crore in Q2 FY25, representing a growth of 111.41 percent. However, there has also been an increase in net loss, from Rs. -1.89 crore in Q2 FY24 to Rs. -3.11 crore in Q2 FY25.
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