13,000 per cent returns in this multibagger stock: This power generation company receives LOA for 100 MWp solar project!

The stock gave multibagger returns of 270 per cent in just 1 year and over 13,000 per cent in the span of 3 years.

Waaree Renewable Technologies Ltd announce that the company have received a work order for turnkey engineering, procurement and construction (EPC) services in respect of the setting up of a solar power project of 100 MWp capacity along with five years of operation and maintenance services from one of India’s leading renewable energy developer.

Recently, the company successfully commissioned a 122.50 MW DC solar power project for the customer out of the aforesaid 210 MW DC capacity.

Waaree Renewables Technologies Ltd is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard.

According to the financials, WRTL has a market cap of Rs 2,368.73 crore and has delivered good profit growth of 261 per cent CAGR over the last 5 years. The company reported excellent results in its both quarterly and annual consolidated financial statements. The net profit skyrocketed 71.43 per cent to Rs 12 crore in Q4FY23 compared to Q4FY22. The net sales skyrocketed 116.70 per cent to Rs 351 crore and the net profit skyrocketed 511.10 per cent to Rs 55 crore in FY23 compared to FY22.

On Friday, shares of Waaree Renewable Technologies Ltd surged 0.41 per cent to Rs 1,132.30 per share with the day’s high of Rs 1,148.95 and the day’s low of Rs 1,126.20. The shares of the company have an ROE of 96.20 per cent and a ROCE of 84.10 per cent.

The stock gave multibagger returns of 270 per cent in just 1 year and over 13,000 per cent in the span of 3 years. Investors should keep an eye on this small-cap stock.