Shares of Sugs Lloyd Ltd hit the 5% upper circuit after the company secured a rooftop solar project worth about Rs 56.57 crore from North Bihar Power Distribution Company Limited (NBPDCL).
The order was awarded under the Centre’s PM Surya Ghar-Muft Bijli Yojana.
The stock was trading at Rs 121.80, up 5% during the session. The company has a market capitalisation of around Rs 282.75 crore.
Details of the order
According to a stock exchange filing, the project involves the development of 16 MW of grid-connected rooftop solar capacity in the Chapra Circle of NBPDCL.
The project will be executed under:
- CAPEX plus RESCO mode
- Utility-Led Aggregation (ULA) model
The contract value is approximately Rs 56.57 crore, excluding GST.
NBPDCL, a Government of Bihar undertaking, awarded the project.
Execution timeline
Under the terms of the award:
- The commissioning period is nine months from the signing of the Power Purchase Agreement (PPA).
- The contract tenure will run for 10 years from the Commercial Operation Date (COD).
The order gives the company long-term visibility under one of India’s flagship rooftop solar programmes.
Focus on renewable energy
The project forms part of the government’s efforts to expand rooftop solar installations through the PM Surya Ghar-Muft Bijli Yojana.
Utility-led aggregation models are increasingly being used to speed up rooftop solar deployment by improving execution and financing efficiency.
Company profile
Incorporated in 2009, Sugs Lloyd Ltd operates in:
- Solar energy projects.
- Electrical transmission and distribution.
- Civil EPC services.
The company has been expanding its presence in renewable energy and infrastructure projects across India.
Stock performance
- Current price: Rs 121.80
- Market capitalisation: Rs 282.75 crore
- Gain over five sessions: 5.91%
- One-month performance: Down 0.61%
- 52-week high: Rs 148.70
- 52-week low: Rs 82.50
The company said neither its promoters nor related parties have any interest in the awarding entity. It also clarified that the transaction is not a related-party deal.
TL;DR:
Sugs Lloyd shares hit the 5% upper circuit after the company won a Rs 56.57 crore order from NBPDCL to develop 16 MW of rooftop solar projects in Bihar under the PM Surya Ghar-Muft Bijli Yojana.
AI summary
- Sugs Lloyd secured a Rs 56.57 crore rooftop solar order.
- The project was awarded by NBPDCL in Bihar.
- The contract involves 16 MW of rooftop solar capacity.
- The agreement carries a 10-year tenure.
- Shares hit the 5% upper circuit following the announcement.
