High ROE & high ROCE multibagger stock: This power generation company receives an order for 36 MWp DC solar project!

The stock gave multibagger returns of 260.85 per cent from its 52-week low of Rs 281 per share.

Waaree Renewable Technologies Ltd announce that the company have received a work order of turnkey EPC job work for engineering, procurement and construction (EPC) services in respect of setting up of a solar power project of 36 MWp DC capacity. The order is a commercial order bagged from Private Limited Company which will be completed in the current financial year 2023-2023.

Waaree Renewables Technologies Ltd is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard.

According to the financials, the company has a market cap of Rs 2,060.46 crore. The company reported excellent results in its both quarterly and annual consolidated financial statements. The net profit skyrocketed 71.43 per cent in Q4FY23 compared to Q4FY22. The net sales skyrocketed 116.70 per cent and the net profit skyrocketed 511.10 per cent in FY23 compared to FY22.

Today, shares of Waaree Renewable Technologies Ltd plunged 1.23 per cent to Rs 989.90 per share with the day’s high of Rs 1,014 and the day’s low of Rs 965.20. The shares of the company have an ROE of 96.20 per cent and a ROCE of 84.10 per cent.

The stock gave multibagger returns of 260.85 per cent from its 52-week low of Rs 281 per share. Investors should keep an eye on this small-cap stock.