5:1 Stock Split & 52,750 Per cent Multibagger Returns: Renewable Company Bags Order for 3.40 MW Ground Mount Solar Power Project – Profits Surged by 210 Per cent in Q1!
The company’s shares have delivered a multibagger return of over 465 per cent in the past 1 year.
Incorporated in 1999, Waaree Renewables Technologies Ltd is engaged in the generation of power through renewable energy sources and provides consultancy services.
The company has received a Letter of Award (LOA) for the execution of Engineering, Procurement, and Construction (EPC) works for a 3.40 MW DC / 2.77 MW AC capacity ground-mounted solar power project on a turnkey basis. This order, valued at Rs. 8,57,95,555 excluding taxes, was awarded by a project management consulting firm. The project is scheduled for completion in the financial year 2024-25, as per the terms of the order.
At the start of the day's trading session, shares of Waaree Renewables Technologies Ltd opened at Rs 1475 per share, compared to the previous day's closing figure of Rs 1467.05 per share on the BSE. Finally, the shares closed at Rs 1437.70 per share. The company's current market capitalization stands at Rs 14,976 crore, and the stock has generated an impressive multibagger return of over 465 per cent in the past 1 year.
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As per the Quarterly Results, in Q1 FY25, Waaree Renewables Technologies Ltd recorded a revenue of Rs 236 crore representing a growth of 83 per cent YoY from Rs 129 crore. The operating profit for Q1 FY25 stood at Rs 41 crore. The net profit for Q1 FY25 was Rs 28 crore compared to a profit of Rs 9 crore. Looking at the annual performance, the company generated a revenue of Rs 876 crore in FY24, compared to Rs 351 crore in FY23. The operating profit for FY24 was Rs 207 crore with a net profit of Rs 145 crore.
According to the shareholding pattern of Waaree Renewables Technologies Ltd, promoters own a 74.46 per cent stake, while public investors hold 24.69 per cent. FIIs hold a 0.83 per cent stake which was earlier 0.20 per cent and DIIs own a 0.01 per cent in Q1 FY25.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.