Solar Pumps Penny Stock Below Rs 40 To Keep Under Radar As Company Achieves Significant Milestones in 2024 With Total Orders In Hand Stands at Rs 37,52,50,000 Plus GST

From Rs 13 (52-week low) to Rs 34.13 per share, the stock gave multibagger returns of over 160 per cent.

On Friday, shares of Latteys Industries Ltd gained 0.44 per cent to Rs 34.13 per share from its previous closing of Rs 34.28 per share. The stock’s 52-week high is Rs 48.63 and its 52-week low is Rs 13.

Latteys Industries Limited, a leading NSE-listed manufacturer of energy-efficient solar submersible pumps, has concluded 2024 with a series of impressive achievements. The company's strategic focus on sustainable energy solutions has resulted in significant growth and reinforced its position as a key player in India's green energy landscape.

A pivotal moment for Latteys Industries in 2024 was the acquisition of a prestigious order worth approximately Rs 30 crore from the Rajasthan Horticulture Department. This order, secured in March 2024, pertains to the design, manufacture, supply, installation, testing, and commissioning of 1,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) under Component-B of the PM-KUSUM scheme. The project, which includes a comprehensive five-year warranty and maintenance service, highlights the company's commitment to delivering reliable and efficient solar solutions.

In addition to this significant order, Latteys Industries has consistently secured OEM work orders throughout the year. In September 2024, the company received orders worth Rs. 3 crore for solar submersible pumps under the Kusum Yojna. The company's international expansion efforts also gained momentum with an export order worth Rs. 1.5 crore plus GST secured in September 2024. Domestically, Latteys Industries has been actively engaged with state governments, receiving orders worth Rs. 1.875 crore plus GST from Jharkhand and Maharashtra in November 2024. In December 2024, an additional order worth Rs. 1.15 crore plus GST was secured from the Maharashtra state government under PM Kusum Yojana. As of today, Latteys Industries boasts a robust order book totalling Rs 37,52,50,000 plus GST.

Latteys Industries remains committed to its growth trajectory and is actively expanding its operations across India. The company is currently empanelled for installations in key states such as Madhya Pradesh, Maharashtra, Gujarat, and Uttar Pradesh. By capitalizing on emerging opportunities and leveraging its strong industry presence, Latteys Industries is well-positioned to further solidify its leadership position in the solar submersible pump market. Latteys Industries' remarkable achievements in 2024 underscore its dedication to contributing to India's sustainable energy goals. With a strong portfolio of orders, a growing market footprint, and a focus on innovation, the company is poised to play a pivotal role in shaping India's green energy future.

About the Company

Founded in 2004, Latteys Industries Limited is a leading manufacturer of advanced pumping solutions catering to Agricultural, Industrial, Domestic, and Horticultural needs. With a robust portfolio of over 700 models—including Submersible, Self-Priming, Centrifugal Monoblock, Shallow-Well, and Horizontal Openwell Submersible Pumpsets—the company operates a state-of-the-art manufacturing facility in GIDC Naroda, Gujarat. The company now operates its business through Seven Branches i.e., Kanpur, Patna, Delhi, Ranchi, Jaipur and Indore across PAN India. The facility boasts an annual production capacity of approximately 1,80,000 Pumps, making Latteys Industries a trusted name in the pumping solutions industry. The company boasts a market capitalization of Rs 196 crore. From Rs 13 (52-week low) to Rs 34.13 per share, the stock gave multibagger returns of over 160 per cent. Investors should keep an eye on this solar penny stock.

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