1:4 bonus shares & 3,600 per cent returns: Multibagger solar company bags order worth Rs 29,00,82,900 from Zodiac Energy Ltd
The stock gave multibagger returns of 388 per cent from its 52-week low is Rs 332 and a whopping 3,600 per cent in 3 years.
Solex Energy Limited has secured a significant order from Zodiac Energy Limited, Ahmedabad, for the supply of 20 MW Solex Bifacial Perc Solar Modules, valued at Rs. 29,00,82,900. This domestic order is expected to be completed within 3 months, as per the terms of the contract. The order highlights Solex Energy's growing presence in the solar energy sector and its ability to deliver high-quality solar solutions to meet the increasing demand for renewable energy.
Solex Energy Ltd is a renewable energy company specializing in manufacturing solar panels and other related devices, such as solar lanterns, street lights, water pumps, and inverters. Beyond manufacturing, the company offers comprehensive solar solutions to residential, commercial, and governmental clients. Their services include designing, procuring, and constructing solar power plants for both residential and commercial sectors, providing a one-stop solution for those looking to harness solar energy.
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.
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Solex Energy’s impressive financial performance highlights its commitment to manufacturing excellence, customer satisfaction, and a sustainable future for India. With its recently announced Vision 2030 strategy, including a landmark investment of approximately USD 1 billion, Solex is dedicated to advancing solar technology and expanding operations to meet India’s growing clean energy demands. The company is well-positioned for continued growth as it broadens its portfolio and strengthens its standing as a trusted leader in solar energy.
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 1,500 crore. The stock gave multibagger returns of 388 per cent from its 52-week low is Rs 332 and a whopping 3,600 per cent in 3 years. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.