Advait Infratech Limited Secures Strategic Award for Setting Up 200 MW Alkaline Electrolysers Manufacturing Capacities in India
From SECI Advait Infratech has received an order for setting up manufacturing capacities of 200 MW of Alkaline Electrolysers in India under Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme (Tranche – 1I) by Solar Energy Corporation of India (SECI) on 27 August 2024. The value of the order is Rs 296 crore.
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Advait Infratech Secures Major EPC Contract from Dakshin Gujarat Vij Co. Ltd.
On Wednesday, shares of Advait Infratech Ltd gained 3.60 per cent to an intraday high of Rs 2,010 per share from its previous closing of Rs 1,940.65. At the closing bell, shares of the company were trading at Rs 1,980 per share, up 2 per cent. Advait Infratech Ltd. has been awarded an EPC contract by Dakshin Gujarat Vij Company Limited (DGVCL) for the installation of MVCC in Southern Gujarat. This turnkey contract involves the supply, installation, testing and commissioning of 11 KV 55mm2 AAAC Medium Voltage Covered Conductor (MVCC) and its accessories. The contract is valued at Rs. 20,32,50,440 (inclusive of GST) and is expected to be completed within 12 months from LOI. Earlier, the company secured a significant Rs 35 crore EPC contract from Power Grid Corporation of India to install OPGW cable in Ladakh, encompassing design, engineering, supply, testing, and commissioning over 25 months. Additionally, its subsidiary, Advait Greenergy Ltd, has bagged contracts totalling Rs 72.69 crore for two green energy projects in Gujarat: a 30 MW solar power plant in Khavda, valued at Rs 59 crore, and a 1 MW green hydrogen plant in Matar, worth Rs 13.69 crore, both under the EPC model. Advait Infratech Ltd is engaged in providing products and solutions for power transmission, power substation, and telecommunication infrastructure fields. Also, it operates with various verticals such as turnkey telecommunication projects, installation of power transmission, telecom products, etc. As of March 31, 2024, the company has a Rs 209.60 crore order book. DSIJ’s ‘Tiny Treasure’ service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here. In Q1FY25, an ace investor, Ashish Kacholia bought 2,88,185 shares or 2.67 per cent in the company at Rs 1,388 per share (face value is Rs 10) aggregating to Rs 40,00,00,780 via preferential issue of shares. Regarding the financials, Advait Infratech has a market cap of over Rs 2,000 crore with a 3-year stock price CAGR of 305 per cent. The company reported excellent numbers in its both Quarterly Results (Q1FY25) and annual results (FY24). The net sales increased by 118 per cent to Rs 59.81 crore and net profit increased by 265 per cent to Rs 5.36 crore in Q1FY25 over Q1FY24. The net sales increased by 100.4 per cent to Rs 208.85 crore and the net profit increased by 159.3 per cent to Rs 21.88 crore in FY24 over FY23. The shares of the company have an ROE of 38 per cent and an ROCE of 38 per cent. The stock gave multibagger returns of 375 per cent in just 1 year and a whopping 5,500 per cent in 3 years. Investors should keep a close eye on this small-cap cable stock. Disclaimer: The article is for informational purposes only and not investment advice. Inshorts, Projects Today, Capital market, PV Group Magazine,
Advait Infratech Strengthens Legacy of Support for Special Needs Education on Independence Day
Advait Infratech continued its tradition of supporting education for special needs children by participating in the Independence Day celebrations at K S Dedhiya Muk Badhir Vidhya Mandir, a school for deaf and dumb students in Gujarat. This year, Shalin Sheth, Founder and MD took forward the legacy of her father by gracing the occasion as the Chief Guest on August 15. The entire promoter family was present. During the event, Advait made a generous donation to enhance the school’s educational resources, including study materials, skilled teachers, and modern facilities. Aarini Sheth, 18, also choreographed a song & dance for the children and helped them perform to an audience. Rutvi Sheth expressed Advait’s commitment to education as a means of social progress, stating, “Our donations aim to empower children and provide schools with the necessary resources to help students reach their full potential.” She also reaffirmed the company’s pledge to continue supporting the school in the future, underscoring their belief that “Shiksha pe hai sabka adhikar”—education is everyone’s right. This 15th August also marks 14 years of Advait Infratech. Pv Group Magazine
Advait Infratech Entered Into A Licensing Agreement with GuoFu Hydrogen & Achieved First Milestone Successfully
In 2024, Guofu Hydrogen Energy Equipment Co., Ltd. (Guofu Hydrogen) and Advait Infratech Limited (AIL) had announced the formalization of a momentous strategic cooperation via a Memorandum of Understanding (MoU) at Guofu Hydrogen’s Zhangjiagan headquarters. This landmark alliance is set to transform the Indian hydrogen market, heralding a new era of sustainable energy development. Under the first milestone of the agreement signed, Guofu Hydrogen Energy Equipment Co., Ltd. is committed to provide all the technical documents in English and know-how and continue to provide online/physical training and clarifications to Advait Infratech for alkaline-based electrolyser technology. Advait Infratech Limited (AIL), a preeminent energy solutions provider based in Gujarat, India, is elated to unveil this pivotal milestone in its quest for sustainable energy solutions. AIL has entered into a Memorandum of Understanding (MOU) with GuoFu, a distinguished global manufacturer renowned for its expertise in hydrogen energy equipment and related products. By harnessing GuoFu’s exceptional manufacturing capabilities, AIL is committed to delivering cutting-edge, reliable, and sustainable solutions to its customers. This strategic partnership merges the unparalleled expertise of AIL and GuoFu to advance green hydrogen technologies and projects across India, marking a critical step in the nation’s journey towards a sustainable energy future. AIL will manufacture and assemble products for the Indian market using GuoFu’s state-of-the-art technology, fortifying its market presence and enabling the provision of innovative and sustainable energy solutions to its clientele. The agreement delineates the establishment of a technological collaboration for Indian market, focused on the local production of 300 MW/year electrolyzers. Future plans include expanding production capacity to 1000 MW/year and encompassing a wide array of products, including hydrogenation machine production and hydrogenation station integration. “This partnership represents a transformative milestone in our strategic vision,” declared a spokesperson for Advait Infratech Limited. “Partnering with Advait Infratech Limited, a company with a commanding market presence and extensive expertise, enables us to introduce our advanced hydrogen production systems to the Indian market. We are dedicated to delivering comprehensive services, from installation to after-sales support, through Advait Infratech Limited’s established channels.” Advait Infratech Limited has recently triumphed in securing a bid for the SECI’s prestigious 100 MW/year PLI local manufacturing subsidy project. This achievement underscores the deepening collaboration between the two companies and sets a robust foundation for future initiatives in the Indian market. About Advait Infratech Limited (AIL) Advait Infratech Limited, headquartered in Ahmedabad, offers comprehensive products and solutions for power transmission, substation, and telecommunication infrastructure. Having recently diversified into green, renewable energy in 2023, Advait is listed on the Bombay Stock Exchange and has transitioned to the Main Board. Advait’s subsidiary, Greenergy Private Limited, is dedicated to making green energy accessible and affordable in India through cutting-edge technology, ensuring a seamless transition towards a sustainable future. About GuoFu Hydrogen Energy Equipment Co., Ltd. GuoFu Hydrogen Energy Equipment Co., Ltd. (GuoFu) is a globally acclaimed Original Equipment Manufacturer (OEM) specializing in Electrolyzers, Fuel Cells, Dispensers, Cylinders, and Storage Tanks. With a steadfast commitment to technological innovation and product excellence, GuoFu is at the forefront of advancing hydrogen energy solutions worldwide.
Guofu Hydrogen and Advait Infratech Forge Landmark Strategic Alliance to Accelerate Sustainable Hydrogen Energy Solutions in India
Guofu Hydrogen Energy Equipment Co., Ltd. (Guofu Hydrogen) and Advait Infratech Limited (AIL) have formalized a significant strategic partnership with the signing of a Memorandum of Understanding (MoU) at Guofu Hydrogen’s headquarters in Zhangjiagang. This landmark agreement is poised to revolutionize the Indian hydrogen sector, marking a pivotal shift towards sustainable energy development in the region. Under the agreement’s initial phase, Guofu Hydrogen is set to provide Advait Infratech with comprehensive technical documents in English and offer ongoing training and support for its alkaline-based electrolyser technology. Advait Infratech, a leading energy solutions provider based in Gujarat, India, is enthusiastic about this strategic milestone, which aligns with its mission to advance sustainable energy solutions. The partnership will leverage Guofu Hydrogen’s cutting-edge manufacturing capabilities to deliver innovative and reliable hydrogen technologies to the Indian market. The collaboration will focus on local production of 300 MW/year electrolyzers, with plans to expand capacity to 1000 MW/year and integrate additional products, including hydrogenation machines and hydrogenation stations. Also Read Uttarakhand Power Corporation To Impose ₹1.12/kWh Surcharge For Open Access Consumers To Recover Stranded Costs “This partnership represents a transformative milestone in our strategic vision,” said a spokesperson from Advait Infratech Limited. “By teaming up with Guofu Hydrogen, a global leader in hydrogen energy equipment, we aim to introduce advanced hydrogen production systems to India, supported by our established service channels.” AIL’s recent success in securing a bid for the SECI’s 100 MW/year PLI local manufacturing subsidy project highlights the growing synergy between the two companies and sets a strong foundation for future endeavors in the Indian market.
Advait Infratech consolidated net profit rises 271.43% in the June 2024 quarter
Sales rise 117.81% to Rs 59.81 croreNet profit of Advait Infratech rose 271.43% to Rs 5.46 crore in the quarter ended June 2024 as against Rs 1.47 crore during the previous quarter ended June 2023. Sales rose 117.81% to Rs 59.81 crore in the quarter ended June 2024 as against Rs 27.46 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var.Sales59.8127.46 118 OPM %13.7112.75 –PBDT8.022.69 198 PBT7.172.12 238 NP5.461.47 271
The Hydrogen Stream: Advait signs alkaline electrolyzer deal with China’s Guofu Hydrogen
Advait Infratech Limited reported earnings results for the first quarter ended June 30, 2024. For the first quarter, the company reported sales was INR 598.09 million compared to INR 274.56 million a year ago. Revenue was INR 604.57 million compared to INR 278.12 million a year ago. Net income was INR 54.56 million compared to INR 14.67 million a year ago. Basic earnings per share from continuing operations was INR 5.25 compared to INR 1.44 a year ago. Diluted earnings per share from continuing operations was INR 5.25 compared to INR 1.44 a year ago.
The Hydrogen Stream: Advait signs alkaline electrolyzer deal with China’s Guofu Hydrogen
India’s Advait Infratech Ltd (AIL) announced this week that it has entered into a technology licensing agreement with China’s Guofu Hydrogen Energy Equipment (Guofu Hydrogen). Under the terms of the agreement, GuoFu Hydrogen will provide Advait with critical technical documentation, know-how, and training for alkaline-based electrolyser technology. AIL will leverage Guofu Hydrogen’s advanced technology to manufacture and assemble equipment for green hydrogen production, locally. The agreement delineates the establishment of a technological collaboration for Indian market, focused on the local production of 300 MW/year electrolyzers. Future plans include expanding the production capacity to 1,000 MW/year and encompassing a wide array of products, including hydrogenation machine production and hydrogenation station integration. RWE has commissioned a 14 MW pilot electrolyzer plant in Lingen, Germany, on the site of its Emsland gas-fired power plant. It generates up to 270 kilograms of green hydrogen per hour using renewable electricity. The German energy company claimed that the pilot plant, which features two different electrolysis technologies, will offer valuable insights for the development of future industrial-scale hydrogen facilities. The first electrolyzer, already under construction, includes a 10 MW alkaline electrolyzer from Sunfire. The second is a 4 MW PEM electrolyzer from ITM Power, designed by Linde. It said that under the GET H2 Nukleus project, it plans to commission a 100 MW electrolyzer at the site by 2025, with an expansion to 300 MW expected by 2027. Thyssenkrupp nucera said that prevailing uncertainty in the green hydrogen market weighed on its growth momentum in the third quarter. “Unresolved regulatory issues and a slow pace of funding commitments led to delays in the final investment decision ( FID) of many potential customers regarding the necessary electrolysis capacities,” said the German company, adding it recorded a 12% increase in order intake in the third quarter to €271.3 million ($296,3 million). The UK Competition and Markets Authority (CMA) has secured formal commitments from Worcester Bosch, following an investigation into the brand’s boiler claims. The CMA raised concerns that Worcester Bosch’s marketing might mislead consumers into believing its “hydrogen-blend ready” boilers were unique or special, even though most boilers can operate on a blend of up to 20% hydrogen. The CMA said these claims could give the false impression that purchasing such a boiler would significantly reduce carbon footprints and “future-proof” heating systems. The investigation started in October 2023, with a consultation letter sent to Worcester Bosch in June 2024. Saipem has secured two certifications from engineering-certification specialist RINA for its methodology in evaluating materials used in subsea pipelines for transporting gaseous hydrogen. Saipem said it has developed a protocol to assess the performance of metallic materials and welds exposed to hydrogen, ensuring pipeline compatibility during both planning and operational phases. NextEra Energy Resources Development has accepted loan terms under North Dakota’s Clean Sustainable Energy Authority (CSEA) Fertilizer Development Loan Program, while Prairie Horizon Energy Solutions has declined them. The “The CSEA recommendation also provided for an applicant to receive the full $125 million if the other applicant were to decline funding,” said the North Dakota Industrial Commission. Prairie Horizon Energy Solutions is a joint venture between Marathon Petroleum (MPC) and TC Energy.
Advait Infratech net profit rises 300% yoy in Q1
Advait Infratech has reported a net profit (profit after tax) of INR 583.16 lakh in the April-May-June quarter of FY 2024-25, around 300% increase over INR 146.48 lakh profit for the corresponding period of the last fiscal. Advait Infratech has reported a net profit (profit after tax) of INR 583.16 lakh in the April-May-June quarter of FY 2024-25, around 300% increase over INR 146.48 lakh profit for the corresponding period of the last fiscal. Total income for the quarter more than doubled to INR 5,852.55 lakh compared to INR 2,743.66 lakh in Q1 FY 2023-24. This included INR 5,814.97 lakh revenue from operations (sales of goods and services). Advait Infratech is one of the six firms that emerged as successful bidders for getting government incentives to set up facilities to manufacture electrolysers, a critical component required for green hydrogen production. The company, a power transmission, substation, and telecommunication infrastructure solutions provider, ventured into green energy in 2023 by forming a special purpose vehicle, Greenergy. Greenergy focuses on electrolyser assembly and manufacturing for hydrogen production, fuel cell supply, and sustainable services like carbon consultancy. Adavait’s Norwegian arm Advait Energy Holdings recently invested in the Norwegian company TECO 2030 that develops PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules.