Multibagger Solar Stock in Focus as Company Incorporated Wholly Owned Subsidiary to Hold Investments in Different Entities
The company has a market cap of Rs 825 crore and has been maintaining a healthy dividend payout of 25.30 per cent.
On Friday, shares of Bhageria Industries Ltd gained 3.63 per cent upper circuit Rs 200 per share from its previous closing of Rs 193 per share. The stock is up by 42 per cent from its 52-week low of Rs 140.85 per share and gave multibagger returns of 5,900 per cent since listing in 2005.
Bhageria Industries Ltd. hereby informs you that the company has incorporated a Wholly Owned Subsidiary Company named SALASAR RENEWABLES PRIVATE LIMITED on October 24, 2024. This newly incorporated subsidiary has an authorized share capital of Rs 1,00,000 and is yet to commence its business operations. As a wholly-owned subsidiary, SALASAR RENEWABLES PRIVATE LIMITED is considered a related party of the Company. Any future transactions between the Company and its subsidiary will be conducted on an arm's length basis. The incorporation of this subsidiary aligns with the Company's strategic objectives to expand its existing business. All necessary governmental and regulatory approvals will be obtained as required. The Company will subscribe to the initial share capital of SALASAR RENEWABLES PRIVATE LIMITED in cash, with a total investment of up to Rs 1,00,000. This will result in the company acquiring 100 per cent of the shareholding and control of the subsidiary.
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Earlier, the company was awarded a Letter of Award (LoA) to develop solar photovoltaic power generating stations with an aggregate capacity of 32 MW(AC) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 scheme. The order was awarded by the Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL), which will purchase the generated power for 25 years from the commercial operation date. The project is a domestic order for power generation and is expected to be executed over 25 years. The total consideration for the project is 32 MW(AC).
Bhageria Industries Ltd., established in 1989, is a diversified chemical and solar power company. With certifications like OHSAS 45001, ISO 14001, and ISO 9001, BIL specializes in manufacturing dyes, dye intermediates, and solar power generation, distribution, and EPC contracts. Their product portfolio includes dyes, intermediates, pigments, and dyestuffs. BIL has significant manufacturing capacities for key dye intermediates like Vinyl Sulphone and H-acid, as well as Sulphuric Acid. Additionally, they have commissioned solar power plants in Chennai and Ahmednagar, entering into long-term power purchase agreements with reputable entities. Their clientele includes prominent players like Everlight Chemical and Huntsman International.
The company has a market cap of Rs 825 crore and has been maintaining a healthy dividend payout of 25.30 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.