Trom Industries Secures Major Work Order with Gujarat Metro for Solar PV Project

A Promising Win: Trom’s New Solar PV Contract with Gujarat Metro

Trom Industries Limited, a leader in the solar EPC (Engineering, Procurement, and Construction) industry, recently announced a notable Rs 20.70 crore work order from Gujarat Metro Rail Corporation (GMRC) Limited. This contract will involve a comprehensive solar PV project across 15 metro stations in Ahmedabad as part of Gujarat Metro Rail’s Phase II expansion. Over the next five years, Trom will handle everything from feasibility studies to installation and maintenance, strengthening its foothold in India’s renewable energy landscape.

Additional Success: A Solar PV Plant for Corona Remedies

In addition to the GMRC contract, Trom Industries received a Rs 12.40 crore purchase order from Corona Remedies Private Limited for a grid-connected ground-mounted solar PV plant. This project includes both AC and DC components and is expected to be completed within this financial year. It showcases Trom’s growing portfolio in the renewable energy sector, particularly in large-scale solar installations.

Recent Listing and Financial Growth

Since its listing on the NSE SME platform on August 1, 2024, Trom Industries has reported strong financial performance. The company raised Rs 31.37 crore in its IPO, intended to support new projects and general corporate needs. With a 125.98% increase in revenue and an 1885.2% surge in profit after tax as of March 2024, Trom’s financial success has led to a significant 20% increase in its share price over the past week, reflecting strong investor confidence.

About Trom Industries Limited

Founded in 2011, Trom Industries has positioned itself as a pioneering player in solar EPC projects, offering sustainable energy solutions for residential, industrial, and commercial applications. With a seasoned team focused on advancing renewable energy, Trom continues to expand its footprint across the Indian market.

Conclusion

Trom Industries’ recent contract wins underscore its rapid growth in the solar EPC industry. The 20% increase in share price this past week signals investor confidence in the company’s future trajectory and its contributions to India’s renewable energy goals.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.