Solar Pumps Penny Stock Below Rs 40 Jumps After Receiving Order Worth Rs 1,87,50,000 From Diligent Services, Ranchi Ultech Energies, Maharashtra
From Rs 13 (52-week low) to Rs 36.79 per share, the stock gave multibagger returns of 183 per cent.
On Monday, shares of Latteys Industries Ltd hit a 5 per cent upper circuit to Rs 36.79 per share from its previous closing of Rs 35.04 per share. The stock’s 52-week high is Rs 48.63 and its 52-week low is Rs 13. From Rs 13 (52-week low) to Rs 36.79 per share, the stock gave multibagger returns of 183 per cent.
Latteys Industries Limited has secured a significant order worth Rs 1,87,50,000 plus GST from Diligent Services, Ranchi, to supply Solar Submersible Pumps to the Government departments of Jharkhand & Maharashtra. The contract, awarded by a domestic entity, is a work order that must be executed within three months from the date of the letter of award. Key terms and conditions of the contract include the timely delivery and installation of the Solar Submersible Pumps, adherence to quality standards, and compliance with government regulations.
Earlier, Latteys Industries secured a significant order for Solar Submersible Pumps worth approximately Rs 1.5 crore plus GST from a domestic OEM. The order, awarded as a work order, is to be executed within three months from the date of the letter of award. Additionally, the company has won a prestigious government tender under the PM-KUSUM scheme, valued at Rs 30 crore. This order, awarded by the Rajasthan Horticulture Department, involves the supply and installation of 1,000 solar water pumping systems across the state and is expected to be completed by March 2025.
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Latteys Industries Limited manufactures pumps and pumping equipment. The company produces pumping solutions for homes, agriculture, and industrial sectors. Latteys Industries serves customers in India. The company has a market cap of Rs 211.5 crore with a 3-year stock price CAGR of 60 per cent.
According to the Quarterly Results, the net sales increased by 19 per cent to Rs 18.73 crore and net profit increased by 180 per cent to Rs 0.70 crore in Q2FY25 compared to Q2FY24. In FY24, the net sales increased by 21.7 per cent to Rs 63.65 crore and net profit increased by 15 per cent to Rs 1.50 crore compared to FY23.
Investors should keep an eye on this solar penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.