Stock under ₹50 jumps 5% after receiving LoI for 2.4 MWp solar power project

The shares of a prominent expert in clean energy gained up to 5 percent after the company received a prestigious Letter of Intent for a 2.4 MWp Solar Power. 

Price movement 

With a market capitalization of Rs 30.63 crore, the shares of EPIC Energy Ltd were trading at Rs 42.47 per share, increasing around 2.80 percent as compared to the previous closing price of Rs 44.70 apiece. 

Reason for Rise 

The shares of EPIC Energy Ltd have seen bullish movement after receiving a Letter of Intent from a prestigious 275 bed NABH accredited Oncology and Cancer Care Center based in Nashik, Maharashtra, for the purchase of 2.4 MWp Solar Power to be generated from Epic’s proposed Solar Park in Solapur, Maharashtra, under the Group Captive Open Access Scheme. 

Commenting on the development, Bharat Mehta, Group Director, said, “This marks a significant step for Epic as we secure our first major client for the upcoming Solar Park in Solapur. We anticipate completing the project by FY 26 and are actively pursuing additional clients for the remaining capacity of the solar park.” 

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Financial performance 

Examining the company’s financial condition, revenue jumped by 17 percent from Rs 0.47 crore in Q3FY24 to Rs 0.55 crore in Q3FY25, and during the same time frame, net profit magnitied by 1600 percent from Rs 0.01 crore to Rs 0.17 crore. 

Ratio analysis 

The company’s critical ratios show that the return on equity improved from (6.75) percent in FY22-23 to 5.35 percent in FY23-24, while the return on capital employed improved from (7.43) percent to 4.79 percent. The net profit margin (NPM) for fiscal year 23-24 is 11.72 percent. 

Company Profile 

Epic Energy Ltd specializes in energy conservation and renewable energy solutions across India. Its product range includes power savers, power conditioners, energy-saving EPS, remote energy management systems, energy audits, demand-side management, solar water heaters, lanterns, streetlights, and wind products, promoting sustainable and efficient energy use nationwide. 

Written by Abhishek Singh

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