Sharika Enterprises hit an upper circuit of 5% at Rs 18.81 after the company received purchase orders worth more than Rs 8 crore from JSW Renew Energy entities for delivering high-quality products and services.
The company has bagged pilot projects from JSW Renew Energy to convert 33kV overhead lines into underground cabling systems at two key locations. The turnkey initiative involves the complete supply and installation of these systems, aimed at improving power evacuation reliability from wind farms in Maharashtra and Karnataka.Each location will involve the supply and installation of 33 kV underground cables connecting multiple wind turbines within the wind farms. These systems are crucial for efficient power transmission, offering advantages over traditional overhead lines by reducing environmental impact, minimizing visual and ecological footprints, and addressing Right of Way (ROW) challenges.
The projects utilize advanced underground cable technology to enhance grid connectivity and support sustainable practices. Successful completion of these pilot projects could lead to larger-scale implementations, positioning the company as a preferred partner for innovative power transmission solutions in the renewable energy sector.
Ravinder Bhan, COO at Sharika Enterprises, said, Collaborating with JSW Renew Energy reaffirms our leadership in providing state-of-the-art solutions in the power infrastructure segment. With our proven expertise and track records, we are committed to timely and efficient execution of all these critical projects."
Sharika Enterprises provides Engineering Procurement Construction (EPC) services, specializing in the power generation, transmission, and distribution sectors. It offers a range of services, including designing and installing solar power plants, power transmission EHV cables, and energy management systems.
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The company reported a consolidated net loss of Rs 3.06 crore in Q2 FY25 as compared to net loss of Rs 1.89 crore recorded in Q2 FY24. Net sales surged 111.4% to Rs 24.46 crore in Q2 FY25 from Rs 11.57 crore posted in Q2 FY24.
Sharika Enterprises' current market capitalisation stands at Rs 81.45 crore on the BSE.
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