Solar Stock Hits Upper Circuit After Bagging 3 Orders Worth Rs 49,77,61,200 in a Single Day; Stock Gains Over 160 per cent in Just 6 Months!
The company’s shares have delivered an impressive return of around 6000 per cent in the past 5 years.
Solex Energy Ltd manufactures solar panels and other renewable energy devices, and also specializes in installing systems on an Engineering, Procurement, and Construction (EPC) basis.
Today, shares of Solex Energy hit the upper circuit with significant volumes on the NSE after securing 3 orders from various clients. As per the details Solex Energy Ltd has secured three significant work orders. The first order, from Shree Vasudev Processors Pvt. Ltd. in Surat, is for a 2 MWp Solar Ground Mount Power Plant valued at Rs 7,05,56,000 (inclusive of all duties and taxes). The second order, from M/s Sonali Dyeing & Printing Pvt. Ltd., also in Surat, is for a 2.4 MWp Solar Ground Mount Power Plant worth Rs 8,46,67,200 (inclusive of all duties and taxes). The third and largest order is from Vatsalya Paper Industries LLP, Surat, for a 10 MWp Solar Ground Mount Power Plant, totalling Rs 34,25,38,000 (inclusive of all duties and taxes).
Today Solex Energy Ltd shares closed at Rs 1534 per share. The company’s current market capitalisation stands at Rs 1227.20 crore. The stock has delivered a multibagger return of around 170 per cent in just 6 months.
As per the Quarterly Results, in the fourth quarter of FY24, Solex Energy Ltd recorded a revenue of Rs 273 crore. The operating profit for Q4 FY24 stood at Rs 20 crore. The net profit for Q4 FY24 was Rs 8 crore. Looking at the annual performance, the company generated a revenue of Rs 366 crore in FY24, compared to Rs 161 crore in FY23. The operating profit for FY24 was Rs 28 crore, with a net profit of Rs 9 crore.
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Solex Energy Ltd manufactures mono/multi-crystalline solar photovoltaic modules, solar lanterns, solar streetlights, solar water pumps, and solar inverters. They offer solar solutions to residential, commercial, utility, and governmental/non-governmental organizations. Additionally, the company is involved in the Engineering, Procurement, and Construction (EPC) business for solar power plants catering to both residential and commercial sectors.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.