Multibagger penny stock under Rs 65 bags new order worth Rs 5,64,64,470 from Subhasree Projects Pvt Ltd; scrip hit upper circuit & 52-week high!

The stock gave multibagger returns of over 250 per cent from its 52-week low of Rs 63.35 per share.

Agni Green Power Ltd informed that the company received an order worth Rs 5,64,64,470 from Subhasree Projects Pvt Ltd. The order includes design and engineering, testing, installation and commissioning and 5 years of comprehensive maintenance for grid-connected rooftop solar power plants, each of array capacity 10kWp on a turnkey basis at school/government buildings in different districts of West Bengal as allotted by WBREDA.  

Earlier, the company received an order worth Rs 13,10,81,680 from Gail (India) Limited. The order includes engineering, procurement and construction services (EPC services) for the balance work of installation of 1MW and 0.8 MW (AC) ground-mounted solar PV power plants.

Incorporated in 1995, Agni Green Power Limited is engaged in the business of executing turn-key solar PV power plant projects. The company has two lines of business, including solar power plant designing, engineering, supply, procurement, construction, installation and commissioning (I&C), maintenance services, manufacturing and assembling of solar lighting systems, and other solar products.

Talking about the financials, Agni Green Power has a market cap of over Rs 123.75 crore. According to half-yearly results, the net sales increased by 272.53 per cent to Rs 17.36 crore and net profit increased by 164.21 per cent to Rs 2.53 crore in H2FY23 compared to H2FY22. As of June 2023, the promoters own a 70.57 per cent stake in the company and the rest 29.43 per cent stake is owned by the general public.

Today, shares of Agni Green Power hit 5 per cent upper circuit to Rs 63.35 per share from its previous closing of Rs 60.35. The stock also made a fresh new 52-week high is Rs 63.35 and its 52-week low is Rs 17.90. The stock gave multibagger returns of over 250 per cent from its 52-week low of Rs 63.35 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.