Penny stock below Rs 25: Solar water pump manufacturer bags new order worth Rs 3,00,00,000 for MSEDCL Department
From Rs 4.88 to Rs 20.50 per share, the stock gave multibagger returns of over 320 per cent in 3 years.
Latteys Industries Limited announced that it has secured a significant contract to supply Solar Submersible Pumps to the MSEDCL Department through its OEM. The order, valued at Rs 3 crore plus GST, represents a substantial addition to the company's growing portfolio of solar energy solutions. The contract was awarded by a domestic entity, and the nature of the order is a work order. The order is expected to be executed within three months from the date of the letter of award.
In addition to this recent win, Latteys Industries Limited has also secured an order for 1,000 Solar Water Pumping Systems under the PM-KUSUM Scheme from the Rajasthan Horticulture Department. This order, valued at approximately Rs 30 crore, involves the supply and installation of various sizes of surface and submersible pumps across Rajasthan. The company has also been empanelled for similar projects in Madhya Pradesh and expects to receive orders from that state soon. The Rajasthan Horticulture Department project is a domestic commercial order to be completed by March 2025.
Latteys Industries Limited manufactures pumps and pumping equipment. The company produces pumping solutions for homes, agriculture, and industrial sectors. Latteys Industries serves customers in India. The company has a market cap of Rs 118 crore with a 3-year stock price CAGR of 60 per cent.
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According to the Quarterly Results, the company reported net sales of Rs 17.28 crore, operating profit of Rs 1.17 crore and net profit of Rs 0.30 crore in Q4FY24. In FY24, the net sales increased by 21.7 per cent to Rs 63.65 crore and net profit increased by 15 per cent to Rs 1.50 crore compared to FY23.
On Wednesday, shares of Latteys Industries Ltd gained 0.34 per cent to Rs 20.50 per share with an intraday high of Rs 20.95 and an intraday low of Rs 20. The stock’s 52-week high is Rs 45.50 and its 52-week low is Rs 13. From Rs 4.88 to Rs 20.50 per share, the stock gave multibagger returns of over 320 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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