Solarium Green gains on bagging Rs 1.73-cr work order from NTPC Vidyut Vyapar Nigam

Solarium Green Energy jumped 4.40% to Rs 245.35 after the company received work order worth Rs 1.73 crore from NTPC Vidyut Vyapar Nigam for the Development of 500 KW Grid Connected Rooftop Solar Projects at IGM Noida, Uttar Pradesh.

The contract encompasses several components, starting with a supply order for plant and equipment for the 500 KW solar project at IGM Noida, valued at Rs 1.24 crore.

In addition, the work order includes local transportation, inland transit insurance, incidental delivery costs for the plant and equipment, installation services, civil and allied works, and safety-related provisions, amounting to Rs 17.72 lakh.

Moreover, the contract includes a comprehensive operation and maintenance (O&M) plan for the solar plant, which will extend for ten years from the completion of the facilities, valued at Rs 31.81 lakh.

The entire project is expected to be completed within 120 days from the date of the Notification of Award (NOA).

The company has also clarified that the order does not involve any related party transactions.

The official announcement was made on Wednesday, 26 March 2025, after market hours.

Solarium Green Energy provides turnkey solar solutions, including design, engineering, procurement, construction, testing, commissioning, transmission systems, and operation & maintenance for residential, commercial, industrial, and government solar projects. The company has completed 11,195 residential, 172 commercial and industrial, and 17 government solar projects in the past three years. As of 31 March 2024, the company had 205 employees.

On a full-year basis, the companys standalone net profit climbed 796% to Rs 15.59 crore on 79.6% surge in revenue from operations of Rs 177.40 crore in FY24 over FY23.

Solarium Green Energy listed on the bourses on 13 February 2025. The scrip was listed at Rs 202, exhibiting a premium of 5.76% to the issue price.

As of 27 March 2025, the companys market capitalization stood at Rs 500.29 crore on the BSE.

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