Solar Pumps Penny Stock Below Rs 40 Hit Upper Circuit After Bagging Order Worth Rs 1,15,00,000 From Autobat Accumlator Pvt Ltd
From Rs 13 (52-week low) to Rs 33.20 per share, the stock gave multibagger returns of over 150 per cent.
On Tuesday, shares of Latteys Industries Ltd hit a 5 per cent upper circuit to Rs 33.22 per share from its previous closing of Rs 31.64 per share. The stock’s 52-week high is Rs 48.63 and its 52-week low is Rs 13. From Rs 13 (52-week low) to Rs 33.20 per share, the stock gave multibagger returns of over 150 per cent.
Latteys Industries Limited has secured a significant order from Autobat Accumulator Pvt Ltd, a domestic entity in Maharashtra. This work order, valued at approximately Rs 1.15 crore plus GST, mandates the supply of Solar Submersible Pumps to a government department in Maharashtra. The contract stipulates a delivery timeline of three months from the issuance of the letter of award.
Earlier, the company secured multiple significant orders for Solar Submersible Pumps. A notable order worth Rs 1,87,50,000 plus GST was awarded by Diligent Services, Ranchi, to supply pumps to government departments in Jharkhand and Maharashtra. Additionally, the company has won a Rs 1.5 crore order from a domestic OEM and a prestigious Rs 30 crore government tender under the PM-KUSUM scheme from the Rajasthan Horticulture Department for the supply and installation of 1,000 solar water pumping systems.
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About the Company
Latteys Industries Limited is a leading company in the energy-efficient Solar Submersible Pump sector, specializing in manufacturing pumps and pumping equipment. Their products cater to diverse needs, including residential, agricultural, and industrial applications. Operating within India, the company boasts a market capitalization of Rs 211.5 crore and has experienced significant growth, with a 3-year stock price CAGR of 60 per cent. In the fiscal year 2024, Latteys Industries further solidified its position by achieving a 21.7 per cent increase in net sales to Rs 63.65 crore and a 15 per cent rise in net profit to Rs 1.50 crore compared to the previous year.
The company's revenue experienced a robust 18.90 per cent year-on-year growth, surging from Rs 1,575 lakh to Rs 1,873.46 lakh. Notably, net profit soared by a significant 176.40 per cent, climbing from Rs 25.37 lakh to Rs 70.12 lakh, accompanied by a sequential growth of 86.20 per cent. This strong performance translated into a remarkable threefold increase in earnings per share (EPS), jumping from Rs 0.04 to Rs 0.12. As Latteys Industries continues to expand its operations across key states like Madhya Pradesh, Maharashtra, Gujarat, Rajasthan, Jharkhand, and Uttar Pradesh, the company is poised to play a pivotal role in India's green energy transition.
Investors should keep an eye on this solar penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.