5:1 Bonus Share Today & Rs 1,800 Crore Order Book: Only Buyers In This Multibagger Solar Pumps Manufacturer Stock; Locked In Upper Circuit
The shares of the company saw a spurt in volume by more than 2.53 times.
On Monday, shares of Shakti Pumps (India) Limited (SPIL) hit a 5 per cent upper circuit to Rs 828 per share from its previous closing of Rs 788.60 per share. The stock’s 52-week high is Rs 860.22 and its 52-week low is Rs 155.17. The stock gave multibagger returns of 433 per cent from its 52-week low of Rs 155.17 per share. The shares of the company saw a spurt in volume by more than 2.53 times.
The shares of the company ex-traded bonus Shares in the ratio of 5:1, i.e., 5 new fully paid-up equity shares for every 1 existing fully paid-up equity share. The Board fixed the record date for bonus shares as Monday, November 25, 2024. The crediting of bonus shares to one's demat account may take up to 15 days from the record date of November 25, 2024.
Additionally, the company secured a significant order from the Haryana Renewable Energy Department (HAREDA) under the Component B of the PM-KUSUM scheme. The order entails the supply, installation, and commissioning of 3,174 solar water pumping systems. The total value of the order, excluding GST, is Rs 102.25 crore and including GST, it amounts to Rs 116.36 crore. This order is a testament to SPIL's strong position in the renewable energy sector and its commitment to sustainable solutions.
Shakti Pumps, a leading Indian manufacturer of pumps and motors for various applications like irrigation and domestic water supply, has been at the forefront of innovation with its well-regarded "Shakti" brand. Founded in 1982, they specialize in energy-efficient pumps including solar options and manufacture a wide range of components in-house for complete solar pump solutions. Committed to sustainability and transforming agriculture, Shakti Pumps exports its products to over 100 countries and is India's first 5-star rated pump manufacturer.
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The company has a market cap of Rs 9,953 crore and as of September 30, 2024, the company has an unexecuted order book of Rs 1,800 crore. In Q2FY25, the company witnessed significant growth, with Revenue from Operations surging to Rs 634.6 crore, a substantial increase of 315.3 per cent compared to Rs 152.8 crore in Q2FY24. Similarly, Profit After Tax (PAT) for the quarter reached Rs 101.4 crore, a remarkable 1618.6 per cent increase from Rs 5.9 crore in the same period last year.
For the first half of FY25 (H1FY25), the company's performance remained strong. Revenue climbed to Rs 1,202.2 crore, a 352.3 per cent increase over H1FY24's Rs 265.8 crore. PAT for the period grew to Rs 194.1 crore, a staggering 2713 per cent increase from Rs 6.9 crore in H1FY24. The stock gave multibagger returns of 390 per cent in 1 year and a whopping 2,120 per cent in 5 years. Investors should keep an eye on this solar pump stock.
Disclaimer: The article is for informational purposes only and not investment advice.