1:4 bonus shares & 4,250 per cent returns: Multibagger solar company bags order worth Rs 18,87,37,648 from Thenpandian Energy Innovations Pvt Ltd
The stock gave multibagger returns of over 350 per cent from its 52-week low is Rs 332 and a whopping 4,250 per cent in 3 years.
Solex Energy Limited has secured a significant contract from Thenpandian Energy Innovations Private Limited for the supply of 13 MW of Solar PV Module Mono-Bifacial M10. This domestic order, valued at Rs 18,87,37,648, is expected to be executed within a six-month timeframe. The contract aligns with Solex Energy's commitment to providing innovative and sustainable solar energy solutions.
Solex Energy Ltd is a renewable energy company specializing in manufacturing solar panels and other related devices, such as solar lanterns, street lights, water pumps, and inverters. Beyond manufacturing, the company offers comprehensive solar solutions to residential, commercial, and governmental clients. Their services include designing, procuring, and constructing solar power plants for both residential and commercial sectors, providing a one-stop solution for those looking to harness solar energy.
According to half-yearly results, the net sales increased by 194 per cent to Rs 273.09 crore and net profit increased by 1,698 per cent to Rs 13.08 crore in H1FY25 compared to H1FY24. In its annual results, the net sales increased by 126 per cent to Rs 365.92 crore and net profit increased by 222 per cent to Rs 8.73 crore in FY24 compared to FY23.
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Solex Energy’s impressive financial performance highlights its commitment to manufacturing excellence, customer satisfaction, and a sustainable future for India. With its recently announced Vision 2030 strategy, including a landmark investment of approximately USD 1 billion, Solex is dedicated to advancing solar technology and expanding operations to meet India’s growing clean energy demands. The company is well-positioned for continued growth as it broadens its portfolio and strengthens its standing as a trusted leader in solar energy.
Furthermore, shares of the company ex-traded bonus shares in the ratio of 1:4. This means that for every 4 existing fully paid-up equity shares of Rs 10 each held by the eligible shareholders as of the Record Date, they will receive 1 new fully paid-up equity share of Rs 10 each. The ex-date for bonus shares was Friday, September 20, 2024.
The company have a market cap of over Rs 1,500 crore. The stock gave multibagger returns of over 350 per cent from its 52-week low is Rs 332 and a whopping 4,250 per cent in 3 years. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.