Penny Stock Under Rs 5: Multibagger Engineering Company Partners with Rite Water Solutions to Supply Solar-Powered Agricultural Pumps!
The company’s shares have delivered a multibagger return of over 120 per cent in just 1 year.
This micro-cap company has partnered with Rite Water Solutions (India) Private Limited to supply, install, commission, and maintain solar-powered agricultural submersible pumps under the Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan Yojna (PM-KUSUM Yojna). These pumps aim to reduce diesel and grid electricity dependency, cutting operational costs and promoting sustainable farming.
Currently, the first batch of 20 pumps is being installed in Chandwad and Niphad Talukas of Nashik District, Maharashtra. This initiative marks a significant step in transforming Indian agriculture through renewable energy. On July 27, 2024, Ishan International and Rite Water Solutions celebrated the commissioning of the first two pumps in Chandwad Taluka, with an event attended by local farmers, the Director, and representatives from Lasalgaon Vibhag Sahkari Kharedi-Vikri Sangh Ltd.
Today, shares of Ishan International Limited are closed at around Rs 2.10 per share. The company’s current market capitalization stands at Rs 45.41 crore. The stock has delivered a multibagger return of over 120 per cent in just 1 year. It has undergone a stock split in the ratio of 10:1 while also the company has delivered a bonus share to the shareholders in the ratio of 2:1.
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As per the Quarterly Results, in Q4 FY24, Ishan International Limited recorded a revenue of Rs 21.12 crore from Rs 22.34 crore. The operating profit for Q4 FY24 stood at Rs 0.64 crore. The net profit for Q4 FY24 stood at Rs 0.56 crore compared to a profit of Rs 0.97 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 30.13 crore in FY24. The operating profit for FY24 was Rs 0.21 crore with a net profit of Rs 0.57 crore compared to a net profit of Rs 0.52 crore in FY23.
Investors must keep this micro-cap company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.