Marsons was locked in an upper circuit of 5% at Rs 280.90 after the company has received a letter of intent (LoI) from Nacof Oorja to develop a 150 MW (AC) grid-interactive ground-mounted solar PV power generation plant.
The project, which involves multiple units across various locations in Rajasthan, will be executed for the Rajasthan Renewable Energy Corporation (RRECL) under the KUSUM Scheme. This initiative aims to provide daytime power to agricultural consumers.
The project will be carried out in technical cooperation with Aditya Clean Systems, a third party that will offer technical assistance to the company.
The company will have to execute a sample solar project with a capacity of 2 MW (AC) within the agreed schedule, adhering to the quality standards specified in the scope. NACOF OORJA reserves the right to cancel the work order if the vendor’s performance does not meet the agreed timeline or fails to comply with the desired quality standards.
The project is valued at Rs 675 crore and is expected to be completed within 12 to 18 months.
Marsons is engaged in manufacturing of transformers in the capacity range of 100MVA 132KV class.
The company reported standalone net profit of Rs 5.24 in Q1 FY25 as compared with net loss of Rs 0.43 crore in Q1 FY24. Net sales stood at Rs 29.88 crore in Q1 FY25, steeply higher than Rs 0.23 crore posted in Q1 FY24.
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First Published: Sep 27 2024 | 3:27 PM IST
