Multibagger penny stock under Rs 70: This solar power SME stock bags a new order worth Rs 21,343,330!

Shares of the company gained more than 140 per cent in the last six months.

Agni Green Power Limited has secured a contract from Subhasree Projects Private Limited to install solar power plants in West Bengal. The project involves designing, building, and maintaining 38 solar power plants, each with a capacity of 10 kW, for various schools and government buildings across the state.

This initiative is part of the West Bengal Renewable Energy Development Agency (WBREDA) scheme. The total contract value is Rs. 2.13 crore, inclusive of taxes and duties. This project strengthens Agni Green Power's position in the renewable energy sector and contributes to West Bengal's clean energy goals.

Agni Green Power Limited has posted strong half-yearly results in H1FY24. The revenue of the company stood at Rs 14.26 crore which grew by 206.12 per cent YoY. The operating profit of the company stood at Rs 1.02 crore which grew by 28.49 per cent on a YoY basis, while the PAT of the company stood at Rs 106.23 crore, which increased by 165.8 per cent on a YoY basis.

Agni Green Power Limited is in the business of execution of turn-key Solar PV Power Plant projects. It provides EPC and O&M services to clients. The shares of Agni Green Power Limited have also delivered multibagger returns to its shareholders in the last one year. During this period, the company's share price surged from Rs 18.40 on May 15, 2023, to Rs 64.60 on May 10, 2024, representing an increase of about 250 per cent in a one-year holding period.

The stock has shown impressive growth, and investors should keep a close eye on this stock.    

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