Multibagger Penny Stock Under Rs 30: Salt Company Announces Expansion of Captive Solar Power Plant at Nawa Refinery
The stock is up by 50 per cent from its 52-week low of Rs 15.47 per share and gave multibagger returns of 500 per cent in 5 years.
Saboo Sodium Chloro Limited (SSCL) announced a significant enhancement to the captive solar power plant at our Nawa refinery, located in Sambhar Lake, Rajasthan. This expansion includes an additional 150 kW of solar power, which complements the existing 500 kW solar facility. This brings the total captive solar power capacity at the refinery to 650 kW.
The company appointed “EKAM GREEN VENTURES LLP” as the EPC contractor for this solar energy project. The new 150 kW solar energy plant will be operational within the next ten days and will enable the company to generate additional in-house solar energy, resulting in significant energy cost savings. This capacity expansion is expected to generate annual energy savings of approximately Rs 40,00,000, enhancing the operational efficiency of the refinery.
Saboo Sodium Chloro Ltd, established in 1993, is a diversified conglomerate with a strong focus on salt production and a diverse range of other ventures. The company is a leading manufacturer and seller of salt, offering a variety of products including Surya Salt, Tota Salt, and Saboo Salt. Beyond salt, Saboo Sodium Chloro Ltd is involved in the production and distribution of spices, guar gum, and renewable energy through wind and solar power projects. Additionally, the company undertakes turnkey projects for salt iodization units and is developing ambitious infrastructure projects like ropeways and luxury hotels and resorts.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
The company has a market cap of over Rs 90 crore with a 5-year stock price CAGR of 45 per cent. The stock’s 52-week high is Rs 34.72 and its 52-week low is Rs 15.47. The stock is up by 50 per cent from its 52-week low of Rs 15.47 per share and gave multibagger returns of 500 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.