NTPC Peer’s Power Penny Stock Under Rs 30 Locked In Upper Circuit As Company Reports A Stellar Results With 357 Per Cent Jump In PAT

The stock is up by 35 per cent from its 52-week low of Rs 18.60 per share and gave multibagger returns of 400 per cent in 5 years.

On Monday, NTPC peer company's shares of Energy Development Company Ltd hit a 5 per cent upper circuit to Rs 25.24 per share from its previous closing of Rs 24.04 per share. The stock’s 52-week high is Rs 36.69 and its 52-week low is Rs 18.60. The shares of the company saw a spurt in volume by more than 1.60 times on BSE.

Energy Development Company Limited (EDCL), established in 1995, is a key player in India's renewable energy sector, committed to sustainable development. The company generates clean, green electricity from water and wind through its own power plants and actively develops energy and infrastructure projects for other developers. With a current renewable energy capacity of 19 MW and an ambitious pipeline of 291 MW of hydroelectric projects, EDCL aims to significantly expand its portfolio to 500 MW in the next 5-7 years.

The company's expertise extends beyond power generation, encompassing feasibility studies, project management, engineering, procurement, construction, and turnkey delivery services. EDCL also offers specialized services like operation and maintenance, rehabilitation, renovation, modernization, and uprating of hydropower plants. This technology-driven company's rich experience and expertise across power engineering, consulting, and management make it a reliable partner in India's renewable energy journey.

According to Quarterly Results, the net sales increased by 37 per cent to Rs 15.09 crore, an operating profit increased by 41 per cent to Rs 11.31 crore and net profit increased by 123 per cent to Rs 6.55 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 30 per cent to Rs 21.87 crore, an operating profit increased by37 per cent to Rs 15.68 crore and net profit increased by 357 per cent to Rs 6.09 crore in H1FY25 compared to H1FY24. In its annual results, the company reported net sales of Rs 30.01 crore and net loss of Rs 2.17 crore in FY24.

The company has a market cap of Rs 120 crore and the promoters own 58.14 per cent stake in the company and rest 41.86 per cent stake is owned by public shareholders. The stock is up by 35 per cent from its 52-week low of Rs 18.60 per share and gave multibagger returns of 400 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.