During Tuesday’s trading session, shares of a prominent renewable energy solutions provider, Sahaj Solar Limited, experienced a significant surge of nearly 7 percent, reaching Rs. 490 on the NSE. The rally followed the company’s announcement of securing a substantial work order valued at approximately Rs. 60.3 crores from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL).
- Market Capitalization & Share Performance: Sahaj Solar Limited holds a market capitalization of Rs. 529.5 crores. As of 03:28 p.m., its stock was trading at Rs. 482, reflecting a 5.2 percent increase from its previous close of Rs. 458.
- Order Details: The company received an order worth Rs. 60.34 crores under the “Magel Tyala Saur Krushi Pump” Scheme by MSEDCL.
- Execution Timeline: The project is set to be completed within 12 months from the issuance of the Letter of Empanelment (LoE).
Contract Scope & Implementation
Sahaj Solar Limited has been awarded a Letter of Empanelment (LoE) and Rate Contract by MSEDCL. The contract entails the design, manufacturing, supply, transportation, installation, testing, and commissioning of Off-Grid DC Solar Photovoltaic Water Pumping Systems with power capacities of 3 HP, 5 HP, and 7.5 HP. These systems will be installed at selected farmers’ sites across Maharashtra. The contract also includes a five-year comprehensive warranty, repair, and maintenance package. Additionally, the agreement involves the installation of 2,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS).
Previous Key Orders Secured by Sahaj Solar Limited
Order from Dakshin Gujarat Vij Company Limited (DGVCL)
On 4th January 2025, Sahaj Solar Limited secured an order worth Rs. 46.64 crores from DGVCL under the PM-KUSUM Scheme (Component B) of the Ministry of New & Renewable Energy, Government of India. This project involves the design, manufacturing, supply, transport, installation, testing, and commissioning of off-grid Standalone Solar Photovoltaic Water Pumping Systems in Gujarat. The execution timeline for this order is 120 days from the date of the Notice to Proceed (NTP).
Order from Punjab Energy Development Agency
On 30th January 2025, the company received another order valued at Rs. 6.37 crores from the Punjab Energy Development Agency, a Punjab Government Undertaking. The contract includes designing, manufacturing, supplying, engineering, installing, testing, and commissioning of solar power systems. This project encompasses a total capacity of 1,797 KW, with an estimated cumulative installation of 20 MW grid-interactive rooftop/ground-mounted solar power plants on various government buildings. The contract also includes a five-year warranty and maintenance service.
Strong Financial Performance & Business Growth
Sahaj Solar Limited has demonstrated remarkable growth in its financial performance. The company’s revenue from operations rose by 60.7 percent on a year-on-year (YoY) basis, increasing from Rs. 61 crores in H1 FY24 to Rs. 98 crores in H1 FY25. Similarly, net profit surged from Rs. 2 crores to Rs. 5 crores during the same period, reflecting an impressive 150 percent YoY growth.
About Sahaj Solar Limited
Founded in 2010, Sahaj Solar Limited is a leading manufacturer of solar panels and a provider of solar power solutions. The company specializes in solar rooftops, solar water pumping systems, solar streetlights, and other renewable energy products. It operates a cutting-edge 100 MW Solar PV Module manufacturing facility located in Bavla, Gujarat. Through its innovative and sustainable energy solutions, the company continues to strengthen its presence in the renewable energy sector.
With a strong portfolio of government contracts and robust financial performance, Sahaj Solar Limited remains a key player in India’s growing renewable energy market.