VMPL
Ahmedabad (Gujarat) [India], November 18: Gujarat-based Trom Industries Limited (NSE - TROM), one of the leading engineering, procurement and construction company specialising in residential solar rooftop systems, industrial solar power plants, ground-mounted solar power plants, and solar street lights. reported Net sales at Rs. 4623.78 Lakhs for the half year ended on September, 2024 as compared to Rs. 2327.35 lacs during the period ended on September, 2023 evidencing a turnover rise of 98.67%.
Highlights:
* Trom Industries Limited is a solar EPC company specializing in residential solar rooftop systems, industrial solar power plants, ground-mounted solar power plants, and solar street lights.
* The company recently got listed on NSE SME platform
* As of March 2024, the company's registered Rs 5.72 crores net profit with Rs 54.54 crores revenue
The half yearly Results for September, 2024 evidenced a net Profit rose of 108.77% to Rs. 413.20 Lakhs as compared to Profit after tax for the period ended September, 2023 which stood at Rs. 197.92 Lakhs.
In the earning statement, Jignesh Patel, Managing Director, he said that "TROM continues to deliver profitable growth, leveraging optimism in the market and improved consumer demand. This remarkable growth underscores the growing market acceptance of our innovative products and services, reflecting our commitment to excellence and our strategic growth in the rapidly evolving solar market. Our results highlight the effectiveness of our innovative solutions and our dedication to meeting the increasing demand for sustainable energy. In the recent time, company was awarded solar projects contracts worth Rs. 3310 lacs from Gujarat Metro Rail Corporation Limited (GMRC) and Corona Remedies Pvt. Ltd. Focused approach has driven growth over the period and cost consciousness has led to deliver yet another record profitable quarter."
Company has recently received work order worth Rs 33 crore from Gujarat Metro Rail Corporation (GMRC) and Corona Remedies.
Company has recently received Work Order from Gujarat Metro Rail Corporation (GMRC) Limited for a period of 5 years. With an order value of over Rs 20.70 crores, the supply for the order will be completed within current financial year in a phased manner. Additionally, the company has also received purchase order from M/s. Corona Remedies Private Limited for Grid Connected Ground Mounted Solar PV Plant.
For the GMRC Ltd work order, the company will be responsible for feasibility study, design, engineering, supply, civil works, procurement, erection of suitable structure, installation, testing, commissioning and comprehensive operation & maintenance for 5 MW (AC) Grid Connected Rooftop Solar Photovoltaic Power Projects. These will be for 15 metro station of Ahmedabad Metro Rail project, Phase II of Gujarat Metro Rail Corporation Ltd.
For M/s. Corona Remedies Private Limited, the company has received purchase order for supply, design, installation, testing, commissioning of Grid Connected Ground Mounted Solar PV Plant 4.25 MW DC & 3.57 MW AC. The value of this purchase order is Rs. 12.40 crore and the supply is expected to be completed within current financial year, in phased manner.
On August 1, 2024, Trom Industries Limited got listed on NSE SME platform. With an issue size of 27.28 lakh shares at face value of Rs 10 each, the price band was set at Rs. 100 to Rs. 115 per share to raise Rs 31.37 crores. The proceeds from this IPO will be utilized to fund capital expenditure requirements of the company towards set up of Solar Power Plant, to meet the working capital requirements and for general corporate purposes.
On financial front, the company has been registering stellar performance year after year. The company's revenue increased by 125.98% and profit after tax (PAT) rose by 1885.2% between the financial year ending with March 31, 2024 and March 31, 2023. As of March 2024, the company's revenue stands at Rs 54.54 crores with Rs 5.72 crores net profit.
Trom Industries Limited:
Founded in 2011, Trom Industries Limited is a solar EPC (Engineering, Procurement and Construction) company specializing in residential solar rooftop systems, industrial solar power plants, ground-mounted solar power plants, and solar street lights. A distinguished player in the solar energy landscape, the company is committed to provide cutting-edge and sustainable solutions that redefine the way we harness power. With a seasoned team of experts boasting extensive experience, Trom Industries Limited specializes in executing a diverse array of solar projects, from residential installations to large-scale commercial ventures.
For further details, contact:
Gopal Modi
DSNN Consultancy
9099030184
gopal@dsnnconsultancy.com
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)