Multibagger returns in just 1 month: This renewable energy company posts 390 per cent increase in net profit; Stock hits upper circuit!

The company's shares have delivered a multibagger return of around 460 per cent in the past six months only.

The shares of Oriana Power Limited were locked in the upper circuit on Friday, gaining 10 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 460 per cent.

The company posted brilliant Quarterly Results as well as the FY24 results. The revenue of the company for FY24 stood at Rs 383 crore which grew by 181 per cent YoY. The operating profit of the company stood at Rs 81 crore with an operating profit margin of 21 per cent, while the PAT of the company stood at Rs 54 crore, representing an impressive growth of 390 per cent YoY.

Shares of this Small-Cap company Oriana Power have also delivered multibagger returns of around 117 per cent in the past month only and around 458 per cent in the past six months. Today the stocks closed the day at Rs 1847.55 per share.

Oriana Power Limited is an India-based solar energy supplier. The company specializes in providing solar energy solutions to industrial and commercial customers. It offers low-carbon energy solutions by installing on-site solar projects, such as rooftop and ground-mounted systems, as well as off-site solar farms. Its business operations are primarily divided into two segments: Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). Under the CAPEX model, it offers engineering, procurement, construction, and operation of solar projects. In this model, customers invest in the capital expenditure themselves, and the company handles engineering, procurement, construction, and operation on behalf of the client. Under the RESCO model, it operates through its subsidiaries. Its subsidiaries provide solar energy solutions on a build, own, operate, transfer (BOOT) model basis. Its solutions include floating solar panels, rooftop solar, hydrogen electrolysers, and others.

The stock has shown tremendous growth and investors should keep a close eye on this small-cap stock.