Rs 2,400 crore order book and Heavy buying: This multibagger solar pump stock bags new order worth Rs 558.16 crore!
Shares of the company gained more than 200 per cent in the last six months.
Shakti Pumps (India) Limited has secured a significant order worth Rs. 558.16 crores from the Department of Agriculture, Uttar Pradesh, under the PM-KUSUM scheme. The order entails the supply, installation, and commissioning of 12,537 solar water pumping systems across the state. The project is expected to be completed within 120 days from the commencement of the work. This substantial order reinforces Shakti Pumps' position as a leading player in the solar water pumping solutions market and underscores its contribution to the government's initiatives for sustainable agriculture. The stock gained over 4 per cent today.
The company posted brilliant Quarterly Results. The revenue of the company for Q1FY25 stood at Rs 567.56 crore which grew by 402 per cent YoY. The operating profit of the company stood at Rs 138.82 crore, while the PAT of the company stood at Rs 92.66 crore, representing an impressive growth of 9,166 per cent YoY. The stock has delivered multibagger returns of over 540 per cent in one year. The company has an order book of Rs 2,400 crore as of April 2024.
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Shakti Pumps (India) Limited is primarily engaged in the manufacturing of pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, commercial and industrial applications. Its brand "Shakti" is well-received in the domestic and international markets.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.