5:1 Bonus Share & Rs 1,800 Crore Order Book: Multibagger Solar Pumps Manufacturer Stock Hit Upper Circuit; Won Order Worth Rs 754.30 Crore From MSEDCL
The stock gave multibagger returns of 471 per cent from its 52-week low of Rs 155.17 per share.
On Friday, shares of Shakti Pumps (India) Limited (SPIL) hit a 5 per cent upper circuit to Rs 819.20 per share from its previous closing of Rs 780.20 per share. The stock’s 52-week high is Rs 860.22 and its 52-week low is Rs 155.17. The stock gave multibagger returns of 471 per cent from its 52-week low of Rs 155.17 per share. The shares of the company saw a spurt in volume by more than 1.53 times.
Shakti Pumps (India) Limited has secured a significant contract from the Maharashtra State Electricity Distribution Company Limited for the supply and installation of 25,000 Stand-alone Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across the state of Maharashtra under the Magel Tyala Saur Krushi Pump Scheme. This domestic contract, valued at approximately Rs. 754.30 Crores (inclusive of GST), entails the design, manufacture, supply, transportation, installation, testing, and commissioning of these solar water pumps. The company is obligated to complete the project within a stringent timeframe of 60 days from the issuance of the Notice to Proceed (NTP) or work order.
Earlier, the shares of the company ex-traded bonus Shares in the ratio of 5:1, i.e., 5 new fully paid-up equity shares for every 1 existing fully paid-up equity share. The ex-date for bonus shares was Monday, November 25, 2024.
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Shakti Pumps, a leading Indian manufacturer of pumps and motors for various applications like irrigation and domestic water supply, has been at the forefront of innovation with its well-regarded "Shakti" brand. Founded in 1982, they specialize in energy-efficient pumps including solar options and manufacture a wide range of components in-house for complete solar pump solutions. Committed to sustainability and transforming agriculture, Shakti Pumps exports its products to over 100 countries and is India's first 5-star rated pump manufacturer.
The company has a market cap of Rs 10,659 crore and as of September 30, 2024, the company has an unexecuted order book of Rs 1,800 crore. In Q2FY25, the company witnessed significant growth, with Revenue from Operations surging to Rs 634.6 crore, a substantial increase of 315.3 per cent compared to Rs 152.8 crore in Q2FY24. Similarly, Profit After Tax (PAT) for the quarter reached Rs 101.4 crore, a remarkable 1618.6 per cent increase from Rs 5.9 crore in the same period last year.
For the first half of FY25 (H1FY25), the company's performance remained strong. Revenue climbed to Rs 1,202.2 crore, a 352.3 per cent increase over H1FY24's Rs 265.8 crore. PAT for the period grew to Rs 194.1 crore, a staggering 2713 per cent increase from Rs 6.9 crore in H1FY24. The stock gave multibagger returns of 425 per cent in 1 year and a whopping 2,500 per cent in 5 years. Investors should keep an eye on this solar pump stock.
Disclaimer: The article is for informational purposes only and not investment advice.