Turnaround Wind Energy Stock Under Rs 30: Stock Hits Upper Circuit with Heavy Volumes, Stock Gains Over 190 per cent in Just 1 Year!
The company’s shares have delivered an impressive multibagger returns of over 190 per cent in just 1 year.
Incorporated in 1995, Indowind Energy Ltd operates within the renewable energy sector, specializing in power generation and distribution through windmills. As an Independent Power Producer (IPP), IWEL focuses on developing wind farms and managing wind assets. The company's core activities include constructing wind power projects, implementing solutions for wind asset management, handling operations, revenue collection, and providing green power to utilities and corporate clients. Additionally, IWEL engages in carbon credit sales and trading, contributing to its comprehensive approach in the renewable energy market.
At the start of the day's trading session, the share of Indowind Energy Ltd opened at Rs 27.99 per share, compared to the previous day's closing figure of Rs 27.26 per share on the BSE. Finally, the shares closed at Rs 29.98 per share on the BSE. The stock has attracted a heavy volume today, reflecting strong demand in the market, and hits the upper circuit. The current market capitalization stands at Rs 321.79 crore, and the stock has generated an impressive multibagger return of around 190 per cent in just 1 year.
Financial Performance
As per the Quarterly Results, in the fourth quarter of FY24, Indowind Energy Ltd recorded a revenue of Rs 4.44 crore. The operating loss for Q4 FY24 stood at Rs 0.95 crore. The net profit for Q4 FY24 was Rs 0.63 crore. Looking at the annual performance, the company generated a revenue of Rs 39.71 crore in FY24, compared to Rs 33.96 crore in FY23. The operating profit for FY24 was Rs 15.84 crore, with a net profit of Rs 7.27 crore compared to a loss of Rs 19.26 crore representing a gain of 138 per cent YoY.
Regarding the shareholding pattern, the promoters own 50.76 per cent of the company and the public or retail investors hold 49.24 per cent.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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