5:1 Bonus Share & Rs 1,800 Crore Order Book: Multibagger Solar Pumps Stock Hit Upper Circuit & 52-Week High For Second Straight Trading Session
The stock gave multibagger returns of 555 per cent from its 52-week low of Rs 162.15 per share.
On Thursday, one of the Top Gainers on BSE & NSE, shares of this multibagger solar pumps manufacturer hit a 5 per cent upper circuit to Rs 1,061.85 per share from its previous closing of Rs 1,011.30 per share. The stock also made a new 52-week high of Rs 1,061.85 per share and its 52-week low is Rs 162.15 per share. The stock gave multibagger returns of 555 per cent from its 52-week low of Rs 162.15 per share.
The buzzing stock name is Shakti Pumps (India) Limited (SPIL)
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 12,765 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), 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 2,713 per cent increase in H1FY25 from Rs 6.9 crore in H1FY24.
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Shakti Pumps invested Rs 4 crore in its subsidiary, Shakti Energy Solutions Private Limited (SESPL), by subscribing to 4 crore equity shares. SESPL manufactures solar structures and had an FY24 turnover of Rs. 139.59 crore. This investment aims to strengthen SESPL's operations and expand its business within the solar energy sector. SESPL's growth in the past three years (FY22-FY24) demonstrates its strong market position. This investment is expected to solidify SESPL's position and contribute to Shakti Pumps' overall growth. The company also secured a contract in Maharashtra for the supply and installation of 25,000 Stand-alone Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) under the Magel Tyala Saur Krushi Pump Scheme. The contract value is approximately Rs. 754.3 Crores (inclusive of GST). The project must be completed within 60 days from the issuance of the Notice to Proceed (NTP).
Furthermore, 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.
The stock gave multibagger returns of 1,480 per cent in 2 years and a whopping 3,050 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.