4,000 per cent returns and Rs 250.5 crore order book: This multibagger micro-cap company is setting up manufacturing capacities for electrolysers in India – know more here!

The stock gave multibagger returns of 180 per cent in just 1 year and a whopping 4,000 per cent in 3 years.

Advait Infratech Ltd announced that the company has received official notification from the Solar Energy Corporation of India Limited under the Ministry of New and Renewable Energy regarding our successful selection for the manufacturing of Electrolysers Capacity in India. This opportunity has been granted under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme, Tranche - 1, with a designated facility capacity of 100 MW per annum.

The company has been selected amongst fierce competition against many large and established players in the renewable energy sector due to its acquisition of know-how and preparedness in manufacturing. This notification marks a significant milestone for the Company, reaffirming our commitment to contributing to the growth of the renewable energy sector in India. Manufacturing of electrolysers aligns seamlessly with our strategic goals and underscores our dedication to fostering sustainability and innovation within the renewable energy industry.

Earlier, in a major boost for both itself and Gujarat's development, Advait Infratech signed two MoUs with the state government at the Vibrant Gujarat Summit, pledging Rs 45 crore for establishing a fuel cell/electrolyser plant and an emergency restoration system in Kadi. This strategic collaboration, facilitated by state approvals, will create over 120 jobs, fuel regional economic growth, and bolster Advait's capabilities, aligning perfectly with its vision for sustainable success.

Advait Infratech Ltd is engaged in the business of providing products and solutions for power transmission, power substation, and telecommunication infrastructure fields. Also, it operates with various verticals such as turnkey telecommunication projects, installation of power transmission, telecom products, etc. As of November 2023, the company have 250.50 crore orders in hand.

On Saturday, shares of Advait Infratech Ltd gained 4.33 per cent to an intraday high and a fresh new 52-week high of 1,109 per share from its previous closing of Rs 1,063. At the closing bell, shares of the company were trading at Rs 1,066.25 per share, up 0.31 per cent.

Talking about the financials, Advait Infratech has a market cap of over Rs 1,000 crore. The company reported excellent numbers in its both half-yearly results and annual results. The net sales increased by 50.69 per cent and net profit increased by 57.57 per cent in H2FY23 over H2FY22. The net sales increased by 40.99 per cent and the net profit increased by 40.24 per cent in FY23 over FY22.

The stock gave multibagger returns of 180 per cent in just 1 year and a whopping 4,000 per cent in 3 years. Investors should keep a close eye on this micro-cap stock.

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