5:1 stock split & 2.36-GW order book: This solar power generation company bags new order worth Rs 90,29,00,000
The stock gave multibagger returns of 640 per cent in just 1 year, 5,800 per cent in 3 years and a whopping 84,000 per cent in 10 years.
Waaree Renewable Technologies Limited (WAAREERTL) has secured a domestic commercial order worth approximately Rs 90,29,00,000 (excluding taxes) from an unidentified domestic entity for the execution of a 30 MW DC solar power project on a turnkey basis. The order, awarded via a Letter of Award (LOA), requires WAAREERTL to undertake Engineering, Procurement, and Construction (EPC) works as per the project terms. The project is scheduled for completion within the financial year 2024-25.
Earlier, the company was awarded a contract to design, procure, and construct (EPC) a 1.090 MWp DC solar power plant on a turnkey basis. The unnamed client is a prominent domestic company involved in metal recycling, speciality chemicals, and various other industrial sectors. The project will utilize HDPE floating technology for the mounting structure and is expected to be completed within the current financial year (2024-25). With an approximate value of Rs 4,12,20,000 (excluding taxes).
Furthermore, shares of the company ex-traded sub-division/ split of the existing 1 equity share of the face value of Rs 10 each fully paid up into 5 equity shares of the face value of Rs 2 each fully paid up, subject to shareholders' approval with ex-date of stock split was Friday, March 15, 2024.
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On Tuesday, shares of Waaree Renewable Technologies Ltd (WRTL) plunged 0.76 per cent to Rs 1,933.50 per share from its previous closing of Rs 1,948.25 per share. The stock’s 52-week high is Rs 3,037.55 while its 52-week low is Rs 215.20.
Waaree Renewables Technologies Ltd is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard. WRTL has a market cap of over Rs 20,000 crore and has delivered good profit growth of 145 per cent CAGR over the last 5 years. The company’s order book as of March 31, 2024, stands at Rs 2.36-GW.
The shares of the company have an ROE of 93 per cent and an ROCE of 103 per cent. The stock gave multibagger returns of 640 per cent in just 1 year, 5,800 per cent in 3 years and a whopping 84,000 per cent in 10 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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