Turnaround Story & Capacity Addition In This Solar Company: Multibagger Stock hit upper circuit & 52-week high; Gains 775 per cent in just 1 year
The stock gave multibagger returns of 725 per cent in just 1 year and a whopping 5,750 per cent in 5 years.
On Monday, shares of Websol Energy System Ltd were locked in a 5 per cent upper circuit to Rs 1,567.20 per share from its previous closing of Rs 1,492.60 per share. The stock also made a new 52-week high of Rs 1,567.20 and its 52-week low is Rs 177.90.
Websol Energy System Limited is a leading Indian manufacturer of photovoltaic crystalline solar cells and related modules. They specialize in producing solar cells and modules for use in commercial and industrial solar energy panels. The company has made significant strides in product innovation. They have transitioned from traditional 158mm multicrystalline solar cells to advanced mono-crystalline silicon PV cells with Passivated Emitter Rear Contact (PERC) technology.
Results: According to Quarterly Results, the total income increased by 47,847 per cent to Rs 143.84 crore in Q2FY25 compared to the total income of Rs 0.30 crore in Q2FY24. The company reported a turnaround net profit of Rs 48.61 crore in Q2FY25 compared to a net loss of Rs 3.95 crore in Q2FY24, an increase of 1331 per cent. In its half-yearly results, the total income increased by 42,513 per cent to Rs 255.68 crore in H1FY25 compared to the total income of Rs 0.60 crore in H1FY24. The company reported a turnaround net profit of Rs 64.88 crore in H1FY25 compared to a net loss of Rs 8.94 crore in H1FY24, an increase of 826 per cent. In FY24, the company reported a total income of Rs 26.81 crore and a net loss of Rs 120.96 crore.
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Capacity Addition: Websol Energy is poised to further strengthen its position in the solar energy sector with the addition of a 600 MW Mono PERC cell line at its Falta location. This expansion, scheduled for completion in the first quarter of FY25, will significantly boost the company's production capacity, enabling it to meet the surging demand for solar modules. The investment of approximately Rs 220 crore will be financed through a combination of internal accruals and external borrowings. This strategic move aligns with Websol's commitment to promote solar energy adoption and address the prevailing supply-demand gap in the domestic solar market.
The company has a market cap of Rs 6,614.6 crore. The stock gave multibagger returns of 725 per cent in just 1 year and a whopping 5,750 per cent in 5 years. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.