5:1 stock split after 57:10 bonus shares 10 years ago: Back-to-back upper circuits & 52-week highs in this multibagger power stock; rockets 50,000 per cent!

The shares of the company have an ROE of 96 per cent and an ROCE of 84 per cent.

Today, one of the Top Gainers on BSE, shares of Waaree Renewable Technologies Ltd (WRTL) hit a 5 per cent upper circuit to Rs 7,090.50 per share from its previous closing of Rs 6,752.90 per share. The stock also made a fresh 52-week high is Rs 7,090.50 while its 52-week low is Rs 600.50 with a spurt in volume by more than 1.15 times on BSE.

The Board of Directors of the company approved the 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. The company fixed the record date for the stock split as Saturday, March 16, 2024.  

Earlier, to the above stock split, the shares of the company ex-traded bonus shares in the ratio 57:10, 10 years ago in the year 2014.

Additionally, the company received a letter of award (LOA) for the execution of engineering, procurement and construction (EPC) work for a solar power plant of 980 MWp /700 MWac on a turnkey basis. The order is worth Rs 990.60 crore and it is received from One of India’s leading Renewable Energy companies. Included for the captioned LOA, the unexecuted order book now stands at 2.141 GW

According to the Quarterly Results, the net sales increased by 338 per cent to Rs 324 crore and the net profit increased by 156 per cent to Rs 64 crore in Q3FY24 compared to Q3FY23. In its nine-month results, the net sales increased by 108 per cent to Rs 603 crore and the net profit increased by 186 per cent to Rs 93 crore in 9MFY24 compared to 9MFY23. According to its annual results, the net sales increased by 117.3 per cent to Rs 351 crore and net profit increased by 522.35 per cent to Rs 55.33 crore in FY23 compared to FY22.

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 Rs 14,769 crore and has delivered good profit growth of 261 per cent CAGR over the last 5 years.

The shares of the company have an ROE of 96 per cent and an ROCE of 84 per cent. The stock gave multibagger returns of 1,000 per cent in just 1 year, 17,920 per cent in 3 years and a whopping 50,000 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.