Multibagger penny stock under Rs 15: This mid-cap company jumps 8 per cent; hits 52-week high!

This heavy electrical equipment company becomes the first Indian wind energy company to reach 20 GW of worldwide Wind Energy installations.

The benchmark indices were trading flat at the closing bell on Tuesday. BSE Sensex Index and NSE Nifty-50 Index were up by 0.02 per cent each. The shares of Suzlon Energy were trading at Rs 12.20 per share, up 10.03 per cent with an intraday high of Rs 12.58 and an intraday low of Rs 11.37. The stock also traded at a new 52-week high of Rs 12.58 per share, a jump of 8.40 per cent from its previous closing of Rs 11.42 with a spurt in volume by more than 1.07 times on BSE.  

According to the Quarterly Results, the company reported total revenue of Rs 1,689.91 crore in Q4FY23. The company reported a net profit of Rs 319.99 crore in Q4FY23 compared to a net loss of Rs 192.92 crore in Q4FY22, an increase of 266 per cent. According to the annual consolidated results, the company reported total revenue of Rs 5,946.84 crore in FY23. The company reported a net profit of Rs 2,887.29 crore in Q4FY23 compared to a net loss of Rs 176.55 crore in Q4FY22, an increase of 1,735 per cent.

The company announced that it has crossed the 20GW wind energy installations milestone through 12,467 wind turbines installed across 17 countries spanning six continents solidifying Suzlon's position as a significant player in the global wind energy landscape. The cumulative order book as of May 30, 2023 stands at 1,542 MW. This includes the order book as on March 31, 2023, of 652 MW plus orders secured subsequently of 890 MW.

Total 7 orders the company bagged as a part of the 3MW Series in FY23-24.

1. An order of 25.2 MW from Sri Kumaraswamy Mineral Exports Private Limited. 
2. A 69+ MW order for the 3 MW series from a leading Nordic Energy Company.
3. A new order of 99 MW from Vibrant Energy.
4. Secures second order for their 3 MW series turbines from Juniper Green Energy Private Limited of 69.3 MW
5. A 39 MW order for their 3 MW product series from a Thermax Group Company.
6. A new order of 204 MW from Serentica Renewables.
7. Secures a major order of 300 MW from Torrent Power Limited.

The company has a market cap of over 14,000 crore with 3 years CAGR of 55 per cent. The stock generated multibagger returns of 125 per cent in just 2 years and over 350 per cent in just 3 years and has a PE of 7.04x and an ROE of 437.16 per cent. Penny Stock Suzlon Energy should be kept under the radar.