Over 1000 Per Cent Multibagger Returns in 3 Years: This Solar Power Consortium Secures Rs 740 Crore EPC Contract for 125 MWAC Solar Project; High ROE & High ROCE Stock
With a PE ratio of 44.8x, the company trades at a fair valuation compared to the industry PE of 44.8x. The company has ROCE of 107 per cent and ROE of 80.2 per cent.
Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies Limited, has announced that it is part of a consortium that has received a Letter of Award (LOA) for a significant solar power project. The project involves Engineering, Procurement, and Construction (EPC) works for a solar power plant with a capacity of 125 MWAC (181.3 MWp DC). This contract, valued at approximately Rs 740.06 crore, has been awarded by a leading domestic power distribution company. The project is set to be executed on a turnkey basis, including operation and maintenance services. The consortium, which includes Waaree Renewable Technologies Limited, will finalize the inter se arrangements among its members in due course. The completion timeline for the project is set for 18 months from the signing of the contract. Importantly, the contract does not involve any related party transactions, and the promoter group has no interest in the awarding entity.
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Waaree Renewable Technologies Limited, trading at a stock market price of Rs 809.25, has a market capitalization of Rs 8,651.42 crore. The company has experienced a significant 52-week high of Rs 8,205 and a low of Rs 759. Over the past year, the stock has seen a decline of 44.26 per cent. However, over a three-year period, it has delivered an impressive return of 1182.69 per cent, qualifying it as a multibagger stock.
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In the Quarterly Results of December 2024, the revenue stood at Rs 360.25 crore, reflecting a YoY growth of 11.15 per cent but a QoQ decline of 31.31 per cent from Rs 524.42 crore in September 2024. The net profit for December 2024 was Rs 53.55 crore, showing a YoY decline of 16.71 per cent and a marginal QoQ decline of 0.06 per cent from Rs 53.58 crore. The net profit margin for December 2024 was 14.86 per cent, compared to 10.22 per cent in September 2024 and 19.84 per cent in December 2023.
For the financial year 2024, the revenue stood at Rs 867.36 crore, marking a growth of 153.81 per cent from Rs 341.73 crore in FY23. The net profit for FY24 was Rs 186.98 crore, reflecting a growth of 160.25 per cent from Rs 141.11 crore in FY23. The net profit margin improved to 16.27 per cent in FY24 from 15.87 per cent in FY23.
As of December 2024, the shareholding pattern stands as follows: Promoters hold 74.39 per cent, Foreign Institutional Investors (FIIs) hold 0.99 per cent, Domestic Institutional Investors (DIIs) hold 0.01 per cent, and the public holds 24.60 per cent. There are no significant changes in shareholding compared to the previous quarter.
With a PE ratio of 44.8x, the company trades at a fair valuation compared to the industry PE of 44.8x. The company has ROCE of 107 per cent and ROE of 80.2 per cent.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.