3.8-GW order book: LIC-backed multibagger wind-solar stock under Rs 60 delivers stellar Q1FY25 performance with 200 per cent YoY profit growth to Rs 302 crore
The stock gave multibagger returns of 180 per cent in 1 year and a whopping 1,330 per cent in 5 years.
On Monday, one multibagger stock gained 0.97 per cent to Rs 55.07 with an intraday high of Rs 55.45 and an intraday low of Rs 53.50 from its previous closing of Rs 54.54 per share backed by Life Insurance Corporation of India (LIC) (LIC owns 1.03 per cent stake in this company).
The buzzing stock name is SUZLON ENERGY LTD.
Suzlon Group, India’s largest renewable energy solutions provider, announced its first quarter results for the financial year 2024‐25 (Q1FY25).
The company reported a stellar Q1FY25 performance, with a year-over-year profit growth of 200 per cent to Rs 302 crore. This strong performance was driven by a number of factors, including a 103 per cent increase in deliveries to 274 MW, the highest Q1 delivery in 7 years. Revenue also grew by 50 per cent to Rs 2,016 crore and EBITDA reached a record high of Rs 370 crore, representing an 86 per cent increase year-over-year. The company also reported a healthy net cash position of Rs 1,197 crores as of June 30, 2024.
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Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. Operations include design development and manufacturing of all major components, including rotor blades, tubular towers, generators, control equipment, gears and nacelles. Apart from manufacturing, it offers a full gamut of wind project planning and execution services, including wind resource assessment, infrastructure and power evacuation, technical planning and execution of wind power projects. It also offers O&M services in India and overseas countries.
Ltd, a leading renewable energy powerhouse with a market cap exceeding Rs 75,000 crore, cements its dominance by joining the prestigious ranks of both the BSE Mid-Cap and Power Indices. The company has an order book of 3.8-gigawatts as of June 30, 2024.
In June 2024, FIIs increased their stake to 21.53 per cent and DIIs increased their stake to 9.17 per cent stake compared to 19.57 per cent and 6.30 per cent respectively, in March 2024. The stock gave multibagger returns of 180 per cent in 1 year and a whopping 1,330 per cent in 5 years. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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