Rs 50,00,00,000 project: Multibagger small-cap company receives approval letter from Gujarat Energy Transmission Corporation Ltd for solar power project!
The stock gave multibagger returns of 587 per cent in the 3 years and a whopping 1,600 per cent in 5 years.
Gokul Agro Resources Ltd. has received approval from Gujarat Energy Transmission Corporation Limited (GETCO) to develop a 10.00 MW solar power project for captive use on land located in Village Dalpura, Banaskantha, Gujarat. The project will connect to the grid via the 66KV Gorad substation of GETCO and is expected to be completed in the fiscal year 2024-25 with a total estimated cost of Rs 50,00,00,000. The approval specifies that Gokul Agro will develop the project as per the terms outlined in the approval letter. It is important to note that this is a domestic contract and not awarded to an international entity.
Gokul Agro Resources Ltd is a manufacturer and processor of various edible and non-edible oils and meals, with a product portfolio exceeding 25 brands including Vitalife, Zaika, Mahek, Richfield, Biscopride, Puffpride, and Pride.
Also Read: Promoter bought 5.12 per cent stake of this multibagger penny stock in Q4; Company achieved a significant win by acquiring a new client in the European region!
On Monday, shares of Gokul Agro Resources Ltd surged 17.24 per cent to Rs 156.10 per share with an intraday high of Rs 156.10 and a low of Rs 135.85. The stock also made a fresh new 52-week high of Rs 156.10 per share and saw a spurt in volume by more than 9 times on BSE.
Talking about the financials, Gokul Agro Resources has a market cap of over Rs 2,100 crore. The company reported positive results in both quarterly and annual financial statements. The stock has a PE of 15x, an ROCE of 24 per cent and an ROCE of 28 per cent. The stock gave multibagger returns of 587 per cent in the 3 years and a whopping 1,600 per cent in 5 years. This stock should be kept under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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