Penny stock below Rs 20: Solar water pump manufacturing company bags new order worth Rs 30 crore from Rajasthan Horticulture Department, Jaipur, Rajasthan

The stock gave multibagger returns of 273 per cent in 3 years.

Latteys Industries Limited has secured an order for 1000 Solar Water Pumping Systems under the PM-KUSUM Scheme from the Rajasthan Horticulture Department. The order, valued at approximately Rs. 30 crores, involves the supply and installation of 3HP, 5HP, and 7.5HP surface and submersible pumps with varying controller types across Rajasthan. The company is also empanelled for similar installations in Madhya Pradesh and anticipates orders from that state soon. The project, awarded by the Commissioner of Horticulture, Rajasthan, is a domestic commercial order to be completed by March 2025.

Latteys Industries Limited manufactures pumps and pumping equipment. The company produces pumping solutions for homes, agriculture, and industrial sectors. Latteys Industries serves customers in India. The company has a market cap of Rs 100 crore with a 3-year stock price CAGR of 60 per cent.

According to the Quarterly Results, the company reported net sales of Rs 17.28 crore, operating profit of Rs 1.17 crore and net profit of Rs 0.30 crore in Q4FY24. In FY24, the net sales increased by 21.7 per cent to Rs 63.65 crore and net profit increased by 15 per cent to Rs 1.50 crore compared to FY23.

On Tuesday, shares of Latteys Industries Ltd were locked in a 5 per cent upper circuit to Rs 18.04 per share with an intraday high of Rs 18.04 and an intraday low of Rs 18.04. The stock’s 52-week high is Rs 45.50 and its 52-week low is Rs 13. The stock gave multibagger returns of 273 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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

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