Solar stock hits upper circuit after receiving order worth over ₹300 Cr for solar power project

The shares of a renewable energy company primarily engaged in the manufacturing and trading of solar plants, electrical goods, and ancillary products hit a 2 percent upper circuit in today’s trade after the company bagged an order worth Rs 300+ Crores, which is more than its Market Cap. 

Share Price Movement

The shares of GP Eco Solutions Ltd, with a total market capitalization of Rs 290.90 Crore on Thursday, as of noon hit a 2 percent upper circuit at Rs 248.4 per share. The shares made a comeback from their day’s low of Rs 238.7 per share and hit the upper circuit. 

About the Order

On March 13, 2025, the company announced that it had bagged an order for an EPC Turnkey Contract. This EPC Turnkey contract will focus on a 128MWp capacity of ground-mounted solar power project. The contract amounts to Rs 300+ Crores, and the project will be commissioned in modular phases (40 MWp+40 MWp+48MWp) within 18-24 months. 

Key Developments

As per a press release dated February 26, 2025, GP Eco Solutions India Limited has entered into a Memorandum of Understanding (MoU) with the New and Renewable Energy Department, Government of Madhya Pradesh.

Through this MoU, GP Eco Solutions India Ltd intends to invest Rs 1,000 Crore by the end of FY 2028 for the development of solar power infrastructure in Madhya Pradesh by setting up a manufacturing unit for solar panels of 5GW and cells of 2GW capacity in the state. 

Also read: FMCG stock in focus after signing MoU with Manipur Govt. for oil palm plantation program

Previous Order

As per a press release dated February 24, 2025, the company has secured an order for the supply of 200MW+ of solar inverters, which is set for execution by the end of March 2025. 

Financials

The company reported an increase of 88 percent YoY in Revenue from Operations from Rs 44.28 Crores in H1FY24 to Rs 83.31 Crores in H1FY25. Their Net Profits also jumped 475 percent YoY from Rs 0.85 Crores to Rs 4.89 Crores over the same period. 

About GP Eco Solutions India Ltd

GP Eco Solutions India Limited is primarily focused on distributing solar inverters and panels, particularly from brands like Sungrow, Saatvik, and LONGi, primarily serving the North Indian market.

They also provide comprehensive engineering, procurement, and construction (EPC) services for solar energy solutions to both commercial and residential customers while operating their own brand “Invergy” for hybrid solar inverters and lithium ferro-phosphate (LFP) batteries. 

Written By Adhvaitha Nayani

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