Rs 17,643 crore order book: This multibagger power company signs PDA for 4.4 MW AC Group Captive Solar Plant with ANAND Group!

The stock gave multibagger returns of 306 per cent in just 3 years whereas BSE Sensex Index is up by 65 per cent.

Tata Power Renewable Energy Limited (TPREL), a leading renewable energy company in India and a subsidiary of Tata Power, signed a group captive power delivery agreement (PDA) for 4.4 MW AC with the ANAND Group, a global automotive systems and parts industry leader.

Under this agreement, TPREL will facilitate the generation of 10 million units of clean energy through renewable sources. The project is expected to eliminate 5,500 tonnes of carbon emissions annually, aligning with TPREL’s mission to create a greener and cleaner future for its Commercial and Industrial (C & I) customers. By leveraging the power of renewable energy sources with sustainability-focused Groups such as ANAND, Tata Power aims to set a precedent for other organizations to follow suit and invest in eco-friendly energy solutions.

On Tuesday, shares of TPL surged 0.73 per cent to Rs 246.80 per share with an intraday high of Rs 248.40 and an intraday low of Rs 245. The stock gave multibagger returns of 306 per cent in just 3 years whereas BSE Sensex Index is up by 65 per cent.

According to the consolidated Quarterly Results, the net sales increased by 2 per cent to Rs 15,003 crore (due to higher sales across Distribution Companies and capacity addition in renewables), EBITDA increased by 43 per cent to Rs 3,005 crore and the net profit increased by 29 per cent to Rs 1,141 crore in Q1FY24 compared to Q1FY23.

Order Book Updates: The company order book as of June 30, 2023, stands at Rs 17,643 crore and the total capacity as of June 30, 2023, stands at 4,199 MW. The Rooftop Solar and Group Captive Order Book stands at Rs 2,504 crore.

Investors should keep an eye on this Large-Cap power stock.

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