Heavy Buying: Small-Cap Solar Company Announces Commissioning of 7 MW Solar Power Plant – Profit Surged by 950 Per cent in FY24, Stock Rallies Over 7 Per cent Today!
The company’s shares have delivered an impressive return of over 240 per cent in the past 2 years.
Swelect Energy Systems Ltd, established in 1994, is a Small-Cap company that specializes in manufacturing and trading solar power projects, off-grid solar photovoltaic modules using crystalline silicon technology (c-Si), solar and wind power generation, and providing contract manufacturing, installation, and maintenance services. The company also deals in solar photovoltaic inverters and energy-efficient lighting systems.
According to a recent press release, Swelect Clean Energy Private Limited, a subsidiary of the company, has successfully commissioned an additional 7MW solar power plant at Pisanathur and Pudunagar villages in Pudukottai District, Tamil Nadu this month.
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Today, the company’s shares rallied over 7 per cent, and finally closed at around Rs 1175.30 and the current market capitalization stands at Rs 1781.61 crore. Additionally, the shares have delivered an impressive multibagger return of around 100 per cent in the past 1 year only.
As per the Quarterly Results, in the Q1 FY25, Swelect Energy Systems Ltd recorded a revenue of Rs 113.84 crore compared to Rs 85.05 crore. It reported an operating profit of Rs 20.99 crore. The net profit stood at Rs 6.59 crore compared to Rs 11.55 crore. Looking at the annual performance, the company generated a revenue of Rs 243 crore in FY24 compared to Rs 246 crore. The operating profit for FY24 was Rs 84 crore with a net profit of Rs 63 crore compared to a profit of Rs 6 crore in FY23 representing a growth of 950 per cent YoY.
Disclaimer: The article is for informational purposes only and not investment advice.