Under Rs 60: This multibagger micro-cap solar company bags its first international order worth Rs 21,89,00,000, company to announce results tomorrow!

The stock has delivered a remarkable return of over 440 per cent in the past 2 years.

In a significant development in India's renewable energy landscape, the pioneering EPC Player in both the power and solar projects has secured its first international contract in collaboration with a joint venture partner, marking a significant milestone for the company. The project, valued at Rs 21.89 crore, is located in Nepal and involves the construction, design, supply, installation, testing, and commissioning of a 132 KV Double Circuit (D/C) transmission line. This achievement not only underscores Promax Power Limited’s commitment to excellence in the power sector but also strengthens its position in the international market.

Promax Power Ltd specializes in Engineering, Procurement, and Construction (EPC) for power and solar projects, as well as related activities. The company undertakes EPC projects for electrification, power substations, and underground cabling ranging from 11kV to 220kV. Additionally, Promax Power Ltd provides turnkey execution of civil infrastructure projects, such as industrial buildings, and water infrastructure management projects, including water transmission and distribution work.

Share Performance:

On Wednesday, the company's stock closed at around Rs 57.42 per share, with a market capitalisation of Rs 143.55 crore. Additionally, the stock has delivered a return of around 140 per cent in the past year only. Regarding the shareholding pattern, as of March 2024, the company’s promoters maintain a steady 63.03 per cent stake in the company, reflecting their continued commitment to its growth trajectory. The public ownership stands at 34.39 per cent as per the recent update.

Financial performance:

According to the Quarterly Results, in Q2 FY24, the company reported a revenue of Rs 28.72 crore and a net profit of Rs 0.44 crore. In FY24, the company reported a revenue of Rs 54.57 crore and a net profit of Rs 0.71 crore, compared to a net profit of Rs 0.20 crore in the previous year.

Investors must keep this micro-cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.