1:4 Bonus Issue with 30,000 Per cent Multibagger Returns: This Solar Stock Hits Upper Circuit Today – Turnaround Company, Posted Profits in FY24 After 4 Years of Back-to-Back Losses!
The company’s shares have delivered an impressive multibagger return of over 190 per cent in just 3 months.
Incorporated in 1999, Ujaas Energy Ltd is involved in the generation of solar power, as well as the manufacturing, sales, and servicing of solar power plants/projects and electric vehicles. Today the company’s stock rallied and hit the upper circuit.
On Tuesday, the shares of Ujaas Energy Ltd hit the upper circuit and are at around Rs 629.30 per share on the BSE. The company’s current market capitalization stands at Rs 8,283 crore. Additionally, the shares have delivered an impressive multibagger return of over 30,000 per cent in the past 1 year only.
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Earlier the company informed that the Board of Directors, at its meeting held on September 7, 2024, has considered and approved the allotment of bonus shares. The Board has also approved Friday, September 20, 2024, as the record date for the allotment of bonus shares. The company on July 15, 2024, recommended 1:4 bonus shares.
As per the Quarterly Results, in the Q1 FY25, Ujaas Energy Ltd recorded a revenue of Rs 6.29 crore compared to Rs 7.18 crore. The operating profit stood at Rs 0.54 crore with a margin of 8.59 per cent which was earlier negative same quarter last year. The net profit stood at Rs 3.82 crore compared to a loss of Rs 5.86 crore. Looking at the annual performance, the company generated a revenue of Rs 27 crore in FY24. The company’s net profit stood at Rs 29 crore compared to a loss of Rs 18 crore in FY23.
According to the shareholding pattern of the company, the promoters hold a significant 93.79 per cent stake. Public investors own 6.21 per cent of the shares.
Investors must keep this Small-Cap solar manufacturing company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.