Rs 358 crore order win: 20 per cent upper circuit in this multibagger stock; bags massive order from Haryana Renewable Energy!

Shares of the company gained more than 300 per cent in the last three years.

Shakti Pumps (India) Limited informed in the exchange filing that the company has received its first work order under the KUSUM-3 scheme from Haryana Renewable Energy Department (HAREDA) for 7,781 pumps. The total amount of the work order is for around Rs 358 crores.

Shakti Pumps 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, and commercial and industrial applications. Its brand "Shakti" is well-received in the domestic and international markets.

In the recent quarter, the company posted weak Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 113.06 crore which decreased by 55.57 per cent on a YoY basis. The operating profit of the company stood at Rs 8.46 crore, while the PAT of the company stood at Rs 1.00 crore, representing a decrease of 88.6 per cent YoY.

The company has a ROCE of 10.7 per cent and an ROE of 5.95 per cent with a market capitalisation of Rs 1,582 crore. In the last three years, the shares of the company have delivered multibagger returns of over 300 per cent returns.

Investors should keep a close eye on this stock.

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