Synergy Green Industries shares rally 16% after order win; check details
Source: Business Standard
Synergy Green Industries share price today surged up to 16.4 per cent, hitting its all time high at Rs 468.40 per share on the BSE in Friday’s intraday deals. This came after the company won a work order worth Rs 163 crore.
“We are pleased to update you on the finalisation of Rs 163.74 crores orders from Vestas Wind Systems to be executed during FY2025-26. These orders are for both 2 MW and 4 MW parts, split equally between domestic and export requirements,” the company said in an exchange fling on Friday.
Vestas Wind System is one of the largest Wind OEMs in the world and has contributed over 1/3rd of Synergy Green Solutions order book for almost a decade now, the company said.
Synergy Green is into manufacturing of large size critical castings to wind turbine parts with facilities located at Kolhapur (Maharashtra) and established as a reliable supplier to all major global wind OEM’s.
For the April June quarter of financial year 2024-25 (Q1FY25) reported a 6.1 per cent decline in revenue year-on-year, with revenue totaling Rs 79.06 crore. On a quarterly basis, the company saw a 5.11 per cent decrease in revenue over the past three months.
In contrast, net profit for the same period increased by 18.47 per cent year-on-year, reaching Rs 2.95 crore. However, on a quarterly basis, net profit fell by 9.23 per cent compared to the previous three months.
The company has a total market capitalisation of Rs 612.54 crore. Its shares are trading at a price to earnings multiple of 47.27 times with an earning per share of Rs 8.51 per share.
At 03:15 PM; the share price of the company was trading 7.74 per cent higher at Rs 433.50. By comparison, the BSE Sensex was trading 1.23 per cent or 1008 points lower at 81,192 levels.
First Published: Sep 06 2024 | 3:26 PM IST
