shares surged 3.85 per cent to ₹103.09 on the on Monday afternoon, following the announcement of its second-quarter financial results released after market hours on November 10. The stock opened at ₹105 and touched an intraday high of ₹108.60, with heavy trading volumes of 328.26 lakh shares recorded by 1.35 pm.
The Thane-based EPC company reported profit after tax of ₹9.1 crore for Q2FY26, representing a 338 per cent year-on-year increase from ₹2.1 crore in the same quarter last year. Revenue from operations rose 10.7 per cent to ₹176.3 crore, while EBITDA nearly doubled to ₹25.4 crore. The company’s EBITDA margin expanded significantly to 14.4 per cent from 8 per cent in Q2FY25.
For the half-year ended September 30, the company posted PAT of ₹14.8 crore, up 132.9 per cent year-on-year, on revenues of ₹335.4 crore.
The company secured two major solar EPC projects worth ₹1,996 crore combined, including a single largest-ever order of ₹1,642 crore from Carbonminus Maharashtra One. This pushed its consolidated order book beyond ₹4,000 crore, providing revenue visibility for the next two years.
Chairman Rakesh Markhedkar attributed the performance to operational discipline and efficient execution, noting the company’s expansion into renewable energy and plans for international market entry in Africa and the Middle East.