11,900 per cent returns in just 3 years: This small-cap multibagger company reports stellar Q1FY24 results!

The company has delivered exceptional returns of 305 per cent over the past year and stellar returns of 11,907 per cent over the past 3 years.

Waaree Renewables Technology Limited (WRTL) is a subsidiary of Waaree Group and leads the Solar EPC business. The Waaree Group has a successful track record of installing over 10,000 solar projects, with a cumulative installation capacity of 1.2+ GW. As a solar developer, we handle financing, construction, ownership and operation of solar projects. Our headquarters are located in Mumbai, and we operate in various regions, focusing on long-term investments in the commercial and industrial customer segments. This subsidiary was established to capitalize on the growing renewable energy market.

Waaree Renewables Technology Limited recently announced their Q1FY24 results in which sales of the company surged by 35.7 per cent and stood at Rs 128.9 crore as compared to Q1FY23 while EBITDA of the company surged by 22.5 per cent to Rs 16 crore as against Q1FY23. Similarly, net profit of the company grew by 12 per cent and stood at Rs 11.1 crore as against to Q1FY23.

Furthermore, as of now, there is an unexecuted order book of 856 MW that is scheduled to be completed within the next 9 to 12 months. The company has recently secured orders for setting up solar power projects of 100 MWp capacity in Jamnagar, Gujarat, and 36 MWp capacity in Amreli, Gujarat. Moreover, in the first quarter of FY24, they have successfully executed over 96+ MW of EPC projects. The bidding pipeline for future projects also remains strong.

The company has delivered exceptional returns of 305 per cent over the past year and stellar returns of 11,907 per cent over the past 3 years.

On Tuesday, shares of the company plunged by 4 per cent and traded at Rs 1,250.

Investors should keep a close eye on this trending smallcap multibagger stock.

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