500 per cent returns and Rs 2,400 crore order book: This multibagger solar pump stock hits upper circuit; reports a 9,166 per cent jump in net profit!

Shares of the company gained more than 200 per cent in the last six months.

Shares of Shakti Pumps (India) Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors today. Hence, the stock is locked in the upper circuit. Recently, Shakti Pumps (India) Limited has secured a significant order from the Maharashtra Energy Department Agency (MEDA) for the supply and installation of 1,200 off-grid solar photovoltaic water pumping systems (SPWPS) across Maharashtra. This project, valued at approximately Rs 33.47 crore, is part of the PM-KUSUM scheme. The company will be responsible for designing, manufacturing, transporting, installing, and commissioning these systems within 120 days of receiving the work order.

The company posted brilliant Quarterly Results. The revenue of the company for Q1FY25 stood at Rs 567.56 crore which grew by 402 per cent YoY. The operating profit of the company stood at Rs 138.82 crore, while the PAT of the company stood at Rs 92.66 crore, representing an impressive growth of 9,166 per cent YoY. The stock has delivered multibagger returns of over 500 per cent in one year. The company has an order book of Rs 2,400 crore as of April 2024.

Shakti Pumps (India) Limited is primarily engaged in the manufacturing of pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, commercial and industrial applications. Its brand "Shakti" is well-received in the domestic and international markets.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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