5:1 Stock Split & 2,100 Per cent Multibagger Returns in 2 Years: This Solar Stock Hits Upper Circuit Today, Profits Surged by 211 Per cent, FIIs Purchased 6,56,140 Shares!
The company’s shares have delivered a multibagger return of over 490 per cent in the past 1 year.
Incorporated in 1999, Waaree Renewables Technologies Ltd is engaged in the generation of power through renewable energy sources and also provides consultancy services in this regard. Waaree Energy is one of the largest vertically integrated new energy companies, with India's largest solar panel manufacturing capacity of 12 GW at its plants in Chikhli, Surat, and Umbergaon in Gujarat.
At the start of the day's trading session, shares of Waaree Renewables Technologies Ltd opened at Rs 1575 per share, compared to the previous day's closing figure of Rs 1502.45 per share on the BSE. Finally, the shares closed at Rs 1577.55 per share. The stock has rallied 5 per cent today and hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 16430 crore, and the stock has generated an impressive multibagger return of over 490 per cent in the past 1 year.
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As per the Quarterly Results, in Q1 FY25, Waaree Renewables Technologies Ltd recorded a revenue of Rs 236 crore representing a growth of 83 per cent YoY from Rs 129 crore. The operating profit for Q1 FY25 stood at Rs 41 crore. The net profit for Q1 FY25 was Rs 28 crore compared to a profit of Rs 9 crore. Looking at the annual performance, the company generated a revenue of Rs 876 crore in FY24, compared to Rs 351 crore in FY23. The operating profit for FY24 was Rs 207 crore with a net profit of Rs 145 crore.
According to the shareholding pattern of Waaree Renewables Technologies Ltd, promoters own a 74.46 per cent stake, while public investors hold 24.69 per cent. FIIs hold a 0.83 per cent stake which was earlier 0.20 per cent and DIIs hold a 0.01 per cent in Q1 FY25.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.