5:1 stock split & 65,000 per cent returns: Solar power generation company bags new order worth Rs 146,77,00,000 for setting up solar power project of 41.6 MW DC capacity
The stock gave multibagger returns of 450 per cent in just 1 year, 3,245 per cent in 3 years and a whopping 65,000 per cent in 5 years.
Waaree Renewable Technologies Limited (WAAREERTL) has secured an order to set up a 41.6 MW DC solar power project in Cuddalore District, Tamil Nadu. The project, valued at approximately Rs 146.77 crore, is scheduled to be completed within the financial year 2025-26. This domestic project involves the company incurring capital expenditure to establish an Independent Power Producer (IPP) plant, aligning with WAAREERTL's commitment to renewable energy solutions.
Earlier, the company secured two significant domestic orders. The first order, valued at approximately Rs 90,29,00,000 (excluding taxes), is for a 30 MW DC solar power project to be executed on a turnkey basis. The second order, worth around Rs 4,12,20,000 (excluding taxes), is for a 1.090 MWp DC solar power plant. This project will utilize HDPE floating technology for the mounting structure. Both projects are expected to be completed within the current financial year (2024-25).
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.
On Monday, shares of Waaree Renewable Technologies Ltd (WRTL) plunged 5 per cent to Rs 1,536.50 per share from its previous closing of Rs 1,617.35 per share. The stock’s 52-week high is Rs 3,037.55 while its 52-week low is Rs 268.10.
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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 September 30, 2024, stands at Rs 1.70-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 450 per cent in just 1 year, 3,245 per cent in 3 years and a whopping 65,000 per cent in 5 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.