Solar stock hits 10% upper circuit after reporting 129% QoQ growth in net profits

A leading solar energy solutions provider, renowned for its comprehensive turnkey installations since 1992, is making waves in the financial markets. The company has demonstrated remarkable growth with its latest quarterly results, showcasing an impressive year-over-year revenue surge of 122% and a substantial profit increase of 93.5%, highlighting its strong market position in residential, commercial, and industrial solar solutions.

Share Price Movement 

The share price of  Zodiac Energy Limited hit a 10 percent upper circuit of Rs. 36.15 per share on Tuesday, a decline from its previous close of Rs. 40.78 per share. The market capitalisation now stands at approximately Rs. 92 crore as of February 11, 2025.

Financial Highlights

In Q3FY25, the company reported revenue of Rs. 104.33 crore, marking a 122.2% YoY growth from Rs. 46.92 crore in Q3FY24 and a 97.6% QoQ increase from Rs. 52.77 crore in Q2FY25. Profit surged to Rs. 5.71 crore, reflecting a 93.6% YoY rise from Rs. 2.95 crore and a 129.3% QoQ increase from Rs. 2.49 crore in Q2FY25.

Also read: PSU stock jumps 4% after reporting 233% YoY increase in net profits in Q3

Competitors 

Some of the key competitors of Zodiac Energy Ltd. in the project consultancy and turnkey sector include Adani Green Energy, Tata Power, JSW Energy, NHPC, Larsen & Toubro Ltd, and Waaree Renewables. 

Zodiac Energy is currently trading at a P/E of 46.18, which is above the industry P/E of 31.65.

Market Outlook

India’s renewable energy sector is witnessing strong growth, driven by ambitious targets and increasing investments. The government aims for 500 GW of non-fossil-based electricity by 2030, with significant policy support and fiscal allocations. Investments in green hydrogen, EVs, and solar infrastructure are surging, alongside projects like PM-KUSUM. With a rising renewable capacity, India ranks among the top globally in wind and solar energy, reinforcing its position as a leader in clean energy transition.

Written By Fazal Ul Vahab C H

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