This BSE listed microcap stock has zoomed 1800% in seven months

Shares of EPIC Energy continued their upward movement, hitting a multi-year high at Rs 121.85, and were locked at the 2 per cent upper circuit on the BSE in Monday's intra-day trade.

Shares of EPIC Energy (EPIC) continued their upward movement, hitting a multi-year high at Rs 121.85, and were frozen at the 2 per cent upper circuit on the BSE in Monday’s intra-day trade. The stock was locked in upper circuit for the 140th straight trading day. In the past seven months, the market price of this microcap company has skyrocketed 1800 per cent from a level of Rs 6.41 on May 2, 2024.

 

Currently, EPIC is trading ‘XT’ group on the BSE. X group classified equity securities of companies that are only listed/traded at BSE. The "T" Group represents securities which are settled on a trade-to-trade basis as a surveillance measure. The company’s market capitalisation stood at Rs 87.87 crore. Till 10:14 am; around 3,056 equity shares changed hands and there were pending buy orders for 93,713 shares on the BSE, the exchange data shows. The stock had hit a record high of Rs 194 on May 2, 2008.

 

 

As on September 30, 2024, EPIC total outstanding equity shares,stood at 7.21 million, of which 23.27 per cent stake was held by the promoters. Resident individual shareholders held 64.79 per cent stake in the company, the shareholding pattern data shows.

 

EPIC is a significant player in the solar EPC markets, under the rooftop solar as well as the open access solar energy business model. EPIC also offers LED retrofitting solutions to save energy for high consumption customers on an ESCO model basis. Recognized by the Bureau of Energy Efficiency, Government of India, EPIC has served State Governments, Municipal Corporations, and major players in the Electrical Industry.

 

The company has established itself as a leading Rooftop Solar EPC company in India. The company is also foraying into Ground Mounted Solar Plants under the Open Access System put in place by the Government of India. The company has a stated objective of implementing Solar Generation Capacities of upto 100 MW in the next two financial years, EPIC said in its FY24 annual report.

 

On September 9, 2024, EPIC informed the stock exchange that the company has signed a joint venture agreement with Fenfeo Automotive Private Limited, Coimbatore to set up a Electric Vehicle (EV) charger manufacturing unit in Coimbatore with an installed capacity of 15,000 chargers per annum.

 

A Joint Venture company will be set up under the Agreement, with EPIC owning 76 per cent of the equity and Fenfeo owning 24 per cent of the Equity. The JV Agreement also envisages expanding the initial installed capacity across multiple locations in India depending on the demands of the market, EPIC said.

 

Fenfeo currently has an impressive pipeline with original EV manufacturers that can be exploited once the JV facility will be up and running by early 2025. On a full year basis, this JV should conservatively generate gross revenue of Rs 15 crore per annum at 80 percent capacity utilization, EPIC’s management said. India’s EV charger market is predicted to grow at a compound annual growth rate (CAGR) of more than 40 per cent from 2024 to 2030 to reach approximately $6 billion, it added.

 

EPIC said Bain's "India Electric Vehicle Report 2023" highlights a major shift toward fast charging technology as the need for rapid charging solutions increases, especially in the transportation and logistics sectors. Bain predicts that India's EV charging market could reach a value of USD 20 billion by 2030, supported by government initiatives, tax incentives, and public-private partnerships. With a projected CAGR exceeding 50 per cent, fast-charging infrastructure will play a critical role in facilitating the country’s EV growth, it added.

 

Bloomberg's analysis suggests that 33 per cent of all vehicles sold in India will be electric by 2030, creating immense pressure on both the public and private sectors to develop robust charging infrastructure. To accommodate this surge in EV adoption, Bloomberg NEF estimates that India will require 2.9 million public charging points by 2030, with a necessary investment of USD 6 billion. The EV charging infrastructure market is expected to grow at a CAGR exceeding 50 per cent during this period.