5:1 Bonus Share Next Week & Rs 1,800 Crore Order Book: Multibagger Solar Pumps Manufacturer Stock Hit Upper Circuit on November 18
The stock gave multibagger returns of over 400 per cent from its 52-week low of Rs 929.15 per share.
On Monday, shares of Shakti Pumps (India) Limited (SPIL) hit a 5 per cent upper circuit to Rs 4,706.85 per share from its previous closing of Rs 4,482.75. The stock’s 52-week high is Rs 5,151 and its 52-week low is Rs 929.15. The stock gave multibagger returns of over 400 per cent from its 52-week low of Rs 929.15 per share. The shares of the company saw a spurt in volume by more than 3 times.
The Board has recommended issue of bonus Shares in the ratio of 5:1, i.e., 5 new fully paid-up equity share for every 1 existing fully paid-up equity share. The Board fixed the record date for bonus shares as Monday, November 25, 2024.
Earlier, the company secured a significant order from the Haryana Renewable Energy Department (HAREDA) under the Component-B of the PM-KUSUM scheme. The order entails the supply, installation, and commissioning of 3,174 solar water pumping systems. The total value of the order, excluding GST, is Rs 102.25 crore and including GST, it amounts to Rs 116.36 crore. This order is a testament to SPIL's strong position in the renewable energy sector and its commitment to sustainable solutions.
Shakti Pumps, a leading Indian manufacturer of pumps and motors for various applications like irrigation and domestic water supply, has been at the forefront of innovation with its well-regarded "Shakti" brand. Founded in 1982, they specialize in energy-efficient pumps including solar options and manufacture a wide range of components in-house for complete solar pump solutions. Committed to sustainability and transforming agriculture, Shakti Pumps exports its products to over 100 countries and is India's first 5-star rated pump manufacturer.
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The company has a market cap of over Rs 9,400 crore and as of September 30, 2024, the company has an unexecuted order book of Rs 1,800 crore. In Q2FY25, the company witnessed significant growth, with Revenue from Operations surging to Rs 634.6 crore, a substantial increase of 315.3 per cent compared to Rs 152.8 crore in Q2FY24. Similarly, Profit After Tax (PAT) for the quarter reached Rs 101.4 crore, a remarkable 1618.6 per cent increase from Rs 5.9 crore in the same period last year.
For the first half of FY25 (H1FY25), the company's performance remained strong. Revenue climbed to Rs 1,202.2 crore, a 352.3 per cent increase over H1FY24's Rs 265.8 crore. PAT for the period grew to Rs 194.1 crore, a staggering 2713 per cent increase from Rs 6.9 crore in H1FY24. The stock gave multibagger returns of 355 per cent in 1 year and a whopping 2,200 per cent in 5 years. Investors should keep an eye on this solar pump stock.
Disclaimer: The article is for informational purposes only and not investment advice.