Kolkata: Solarium Green Energy is a player in the expanding renewable energy sector in the country. The Ahmedabad-based company can offer design, engineering,
installation, and O&M services for solar power projects in residential, commercial and government domains. It also manufactures PV modules and inverters. The company was set up in 2018 in a state which is famous for long stretches of sunshine.
Solarium Green Energy has won Notification of Award (NOA) for rooftop solar PV projects that carries a value of about Rs 18.78 crore. Prominent investor Mukul Agrawal has picked up shares of this stock, which has triggered excitement among a lot of investors.
Solarium Green Energy stock price and volumes
Around 1 pm of October 10, the Solarium Green Energy stock was trading at Rs 351.85, up Rs 22.00 (or 6.67%). In early trade today, the solar company’s stock rose 9.1% to reach Rs 360 against its closing price f Rs 329.85 on October 9. Reports said the volume of shares bought rose five times and it was attributed to the investment of Mukul Agarwal. He picked up 6 lakh, which was equivalent to 2.88% stake.
Valuation of the Solarium Green Energy
The company’s P/E ratio stands at 41.4, which is a rather expensive valuation. Solarium Green Energy is trading at Rs 351 and its book value was Rs 67.8. The PS ratio was about 5.45.
The return of equity (ROE) and return on capital employed (ROCE) were 23% and 20.1%, which indicates the company is generating good returns of the capital it employs. This, in turn, indicates that the company is run efficiently.
Reports have stated that the company won contracts for rooftop solar projects that are worth Rs 8.22 crore from NTPC Vidyut Vyapar Nigam. It will done in DRDO sites in Chennai, Vizag, and Chandipur.
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