Advait Infratech Secures Rs 296 Crore Order for Green Hydrogen Project
Key Ideas
- Advait Infratech locked in 5% upper circuit after receiving a Rs 296 crore order from SECI for setting up 200 MW Alkaline Electrolysers manufacturing capacities under the SIGHT Scheme.
- The project is to be completed in 5 years, focusing on the transition to green hydrogen.
- The company reported a significant increase in consolidated net profit to Rs 5.46 crore in Q1 FY25 compared to Rs 1.47 crore in Q1 FY24, with sales rising by 117.81% to Rs 59.81 crore.
- Advait Infratech specializes in power transmission, substation, and telecommunication infrastructure solutions.
Advait Infratech's shares surged by 5% to Rs 1979.70 following the announcement of securing a substantial order worth Rs 296 crore from the Solar Energy Corporation of India (SECI). The project, part of the SIGHT Scheme Tranche - II, involves the establishment of 200 MW Alkaline Electrolysers manufacturing capacities in India over the next 5 years, emphasizing the shift towards green hydrogen. The company, known for providing products and solutions in power transmission, substation, and telecommunication infrastructure sectors, reported a remarkable uptick in consolidated net profit to Rs 5.46 crore in the first quarter of FY25, a significant rise from Rs 1.47 crore in the corresponding period of FY24. Additionally, sales witnessed a substantial increase of 117.81% to reach Rs 59.81 crore in Q1 FY25. This positive financial performance reflects Advait Infratech's strong position in the market and its commitment to renewable energy projects. The company's achievement in securing this green hydrogen project underscores its contribution to India's sustainable energy goals.