1:4 Bonus Shares & 5,200 Per Cent Multibagger Returns: Solar Company Achieved Milestone Production of 65,000 Solar Modules in December 2024
The stock gave multibagger returns of 223.33 per cent from its 52-week low is Rs 420 and a whopping 5,200 per cent in 5 years.
Solex Energy Limited, a leading solar brand in India, recently reached a major milestone by producing 65,000 solar modules in December 2024. This achievement demonstrates Solex Energy's commitment to expanding renewable energy solutions while maintaining its reputation for high-quality products and innovation. The company's Global Giga Factory, equipped with fully automated GW-scale operations, enables this impressive production feat. With a strong presence both domestically and internationally, Solex Energy remains dedicated to meeting the growing demand for clean energy solutions and providing world-class products and services to its diverse customer base.
About the Company
Headquartered in Surat since 1995, Solex Energy, the first Indian solar brand listed on NSE Emerge (stock code: SOLEX), is a leading manufacturer of high-end photovoltaic modules with a 1.5 GW production capacity at its global factory in Tadkeshwar, Gujarat. Solex exports to several countries and serves internationally recognized brands as a trusted OEM provider. With a commitment to quality and sustainability, Solex Energy is poised for continued growth, driven by its Vision 2030 strategy, which includes a USD 1 billion investment to advance solar technology and meet India's growing clean energy needs.
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According to half-yearly results, the net sales increased by 194 per cent to Rs 273.09 crore and net profit increased by 1,698 per cent to Rs 13.08 crore in H1FY25 compared to H1FY24. In its annual results, the net sales increased by 126 per cent to Rs 365.92 crore and net profit increased by 222 per cent to Rs 8.73 crore in FY24 compared to FY23.
Furthermore, shares of the company ex-traded bonus shares in the ratio of 1:4. This means that for every 4 existing fully paid-up equity shares of Rs 10 each held by the eligible shareholders as of the Record Date, they will receive 1 new fully paid-up equity share of Rs 10 each. The ex-date for bonus shares was Friday, September 20, 2024.
The company have a market cap of over Rs 1,400 crore. The stock gave multibagger returns of 223.33 per cent from its 52-week low is Rs 420 and a whopping 5,200 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.