Stock priced under ₹30 has surged by 5% to hit the upper circuit following a successful bid for Rooftop Solar Systems
Rooftop Solar Systems: The consultancy service provider in the power sector, Sharika Enterprises Ltd, experienced a significant increase in its shares, reaching a 5 percent upper circuit. This surge followed the company securing a prestigious work order from POWERGRID Energy Services Limited for Rs 5.74 crore.
With a market capitalization of Rs 103.18 crore, Sharika Enterprises Ltd’s shares were trading at Rs 23.83 per share, marking a 4.98 percent increase from the previous closing price of Rs 22.70.
The rise in share value can be attributed to the recent work order obtained by Sharika Enterprises Ltd from POWERGRID Energy Services Limited. The order involves the Supply & Installation of Rooftop Solar Systems on Govt. buildings in Ladakh/Rajasthan and on POWERGRID’s building in Northern Region (NR) under PM Surya Ghar-Mufti Bijli Yojna, with a value of Rs. 5.74 crore.
In terms of financial performance, the company saw a 1 percent increase in revenue from Rs 11.57 crore in Q2FY24 to Rs 24.46 crore in Q2Y25. However, the net loss also increased from Rs 1.89 crore to Rs 3.11 crore during the same period.
Sharika Enterprises Ltd specializes in marketing consultancy for foreign principals in large power projects, cable solutions, transmission and distribution systems, project management consultancy, project execution services, and smart grid technologies. The company’s clientele includes major players like NHPC, NTPC, REC, Power Grid, and others, demonstrating a strong presence in the power, infrastructure, and energy sectors.
As of the September 2024 shareholding pattern, the promoters hold 55.16 percent of Sharika Enterprises Limited, while foreign institutional investors hold 0 percent, and the public holds 44.83 percent.
Company Profile
Sharika Enterprises Ltd specializes in Engineering, Procurement, and Construction (EPC) contracts, assembly, and trading for power generation, transmission, and distribution. Our expertise lies in the installation of Extra High Voltage (EHV) cables, Energy Management Systems (EMS), and solar plants. Additionally, we offer automation equipment such as auto-reclosers and Fault Passage Indicators (FPIs).
In our trading division, we provide a wide range of products including LED lights, cables, power capacitors, switchgears, and cast resin transformers. Our commitment to quality and innovation sets us apart in the industry, ensuring that our clients receive top-notch products and services.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.