Bhagyanagar India Ltd Secures 53 MW Solar Power Project in Maharashtra
Bhagyanagar India Ltd, a leading manufacturer of copper products and alloys, has announced a significant 53 MW solar power project in Maharashtra. The project, valued at Rs 245 Crores, is part of the government's initiative to promote renewable energy and
Bhagyanagar India LtdSolar PowerRenewable EnergyStock MarketMsedclReal Estate MumbaiFeb 25, 2025
This significant boost in the company's stock is a testament to its expanding footprint in the renewable energy sector.
The shares of Bhagyanagar India Ltd, with a total market capitalization of Rs 263.96 Crores, reached an intraday high of Rs 88.39 per share, gaining around 16 percent on Tuesday’s trade.
By 2 00 pm, the shares had retreated slightly from their peak, trading at Rs 83.2 per share, which was 9 percent higher than the previous closing price of Rs 76.2.
Over the past three years, the company’s shares have generated an impressive return of 87 percent, and a remarkable 335 percent over the past five years.
According to a press release dated February 25, 2025, Bhagyanagar India Limited has received a Letter of Award for the 53 MW solar power project in Maharashtra.
This project is part of the “Mukhyamantri Saur Krushi Vahini Yojana 2.0,” a government initiative aimed at implementing solar power systems at the feeder level under the PM-KUSUM scheme.
The project has been awarded by the Maharashtra State Electricity Distribution Company Limited (MSEDCL), a Government of Maharashtra undertaking.
The tariff for the solar power generated by this project is set at Rs.
3.09 per KWh, with a subsidy of Rs.
1.05 Crore per MW from the Government of India.
The project must be completed within 18 months of receiving the Letter of Award, and the contract will span 25 years from the date of commissioning.
In addition to this recent win, Bhagyanagar India Ltd has also received 11 Letters of Awards for the development of a total 65.7 MW solar power project in Uttar Pradesh.
The project, valued at Rs 230 Crores, involves setting up grid-connected solar power plants and was awarded by the Uttar Pradesh New and Renewable Energy Development Agency.
Bhagyanagar India Ltd is one of the oldest and largest companies producing copper products in India.
The company offers a wide range of copper products, including copper bus bars, copper wires and rods, copper foils/sheets, and paper-insulated copper conductors.
Over the years, Bhagyanagar India Ltd has diversified its portfolio to include telecom products, solar products, and real estate.
This strategic diversification has allowed the company to maintain a strong market position and adapt to evolving market trends.
The company reported a 17.89 percent Year-over-Year (YoY) increase in Revenue from operations, from Rs 334.6 Crores in Q3FY24 to Rs 394.5 Crores in Q3FY25.
Their Net Profits also saw a YoY growth of 44.6 percent, rising from Rs 2.76 Crores to Rs 3.99 Crores over the same period.
These financial improvements underscore the company’s strong operational performance and its commitment to sustainable growth.
In conclusion, Bhagyanagar India Ltd's recent solar power project in Maharashtra is a significant milestone in the company's journey towards renewable energy.
The project not only aligns with the government's initiatives to promote clean energy but also positions Bhagyanagar India Ltd as a key player in the renewable energy sector.
For more information on Bhagyanagar India Ltd and its projects, please visit the company’s official website or contact their investor relations team.
Frequently Asked Questions
What is the value of the 53 MW solar power project secured by Bhagyanagar India Ltd?
The 53 MW solar power project secured by Bhagyanagar India Ltd is valued at Rs 245 Crores.
What is the tariff for the solar power generated by this project?
The tariff for the solar power generated by this project is Rs 3.09 per KWh.
What government initiative is this project a part of?
This project is part of the “Mukhyamantri Saur Krushi Vahini Yojana 2.0,” a government initiative under the PM-KUSUM scheme.
What is the projected completion time for the solar power project?
The project must be completed within 18 months of receiving the Letter of Award.
What is Bhagyanagar India Ltd's market capitalization?
Bhagyanagar India Ltd has a total market capitalization of Rs 263.96 Crores.
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