52-Week High Alert & Rs 1,800 Crore Order Book: Multibagger Solar Pump Stock Jumps 74.33 Per Cent After 5:1 Bonus Share on November 25, 2024

The stock gave multibagger returns of 641 per cent from its 52-week low of Rs 166.17 per share.

On Friday, one of the Top Gainers on BSE & NSE, shares of this multibagger solar pumps manufacturer hit a 5 per cent upper circuit to Rs 1,231.80 per share from its previous closing of Rs 1,173.15 per share. The stock gave multibagger returns of 641 per cent from its 52-week low of Rs 166.17 per share.

The buzzing stock name is Shakti Pumps (India) Limited (SPIL)

Shakti Pumps (India) Limited has announced that its Board of Directors will convene on Tuesday, January 07, 2025, to deliberate and approve, among other matters, the raising of funds through the issuance of eligible securities. This may involve a preferential allotment, private placement (including one or more Qualified Institutional Placements or a further public issue of equity shares), or any other permissible mode or combination thereof, as determined by the Board. The terms and conditions of the fund-raising will be finalized by the Board at its discretion, subject to subsequent shareholder approval through a postal ballot.

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.

The company has a market cap of Rs 14,400 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), 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 2,713 per cent increase in H1FY25 from Rs 6.9 crore in H1FY24.

Recently, 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 ex-date for bonus shares was Monday, November 25, 2024. After the bonus issue, the stock rallied 74.33 per cent. The stock gave multibagger returns of 1,700 per cent in 2 years and a whopping 3,260 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.