Debt-free power penny stock under Rs 25 to keep under radar as company reports turnaround net profit in Q2FY25
The stock is trading at 0.50 times its book value and up by 29.1 per cent from its 52-week low of Rs 16.30 per share.
On Monday, shares of Veer Energy & Infrastructure Ltd plunged 0.33 per cent to Rs 20.98 per share from its previous closing of Rs 21.05 with an intraday high of Rs 21.05 and an intraday low of Rs 20.98. The stock’s 52-week high is Rs 35.64 and its 52-week low of Rs 16.30.
Veer Energy & Infrastructure Ltd., established in 2006, is a key player in the renewable energy sector, specializing in the development, construction, and operation of large-scale wind and solar energy projects. The company offers a comprehensive range of services, including wind resource assessment, land acquisition, civil and electrical infrastructure development, turbine installation and commissioning, power evacuation, and ongoing operations and maintenance. With a strong track record, Veer Energy has successfully implemented numerous wind farm projects across Gujarat, Rajasthan, Maharashtra, and Tamil Nadu, contributing significantly to India's renewable energy goals.
In its Quarterly Results, the net sales increased by 536 per cent to Rs 4.45 crore in Q2FY25 compared to Q2FY24. The company reported a turnaround net profit of Rs 0.43 crore in Q2FY25 compared to a net loss of Rs 0.35 crore in Q2FY24, an increase of 223 per cent. In its half-yearly results, the net sales increased by 265 per cent to Rs 5.48 crore in H1FY25 compared to H1FY24. The company reported a net profit of Rs 0.67 crore in H1FY25 compared to a net profit of Rs 0.06 crore in H1FY24, an increase of 1,017 per cent.
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Earlier, Veer Energy & Infrastructure has successfully sold a high-tech wind turbine installation worth Rs 429 lakh in Kutch, Gujarat. The 800/850 KW turbine is part of a 2450 KW project. This sale aligns with the company's commitment to sustainable energy solutions and exceptional service. Veer Energy will continue to operate and manage the turbine, utilizing advanced technology to generate clean energy and reduce carbon emissions.
The company has a market cap of over Rs 30 crore and as of September 2024, it is debt-free. The stock is trading at 0.50 times its book value and up by 29.1 per cent from its 52-week low of Rs 16.30 per share. Investors should keep an eye on this power penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.