Solar Pumps Penny Stock Below Rs 40 To Keep Under Radar As Company Reports A 180 Per Cent Jump In PAT

From Rs 13 (52-week low) to Rs 38.79 per share, the stock gave multibagger returns of 198 per cent.

Latteys Industries Limited manufactures pumps and pumping equipment. The company produces pumping solutions for homes, agriculture, and industrial sectors. Latteys Industries serves customers in India. The company has a market cap of Rs 223 crore with a 3-year stock price CAGR of 60 per cent.

According to the Quarterly Results, the net sales increased by 19 per cent to Rs 18.73 crore and net profit increased by 180 per cent to Rs 0.70 crore in Q2FY25 compared to Q2FY24. In FY24, the net sales increased by 21.7 per cent to Rs 63.65 crore and net profit increased by 15 per cent to Rs 1.50 crore compared to FY23.

Earlier, Latteys Industries has secured a significant order for Solar Submersible Pumps worth approximately Rs 1.5 crore plus GST from a domestic OEM. The order, awarded as a work order, is to be executed within three months from the date of the letter of award. Additionally, the company has won a prestigious government tender under the PM-KUSUM scheme, valued at Rs 30 crore. This order, awarded by the Rajasthan Horticulture Department, involves the supply and installation of 1,000 solar water pumping systems across the state and is expected to be completed by March 2025. The company is also actively pursuing similar opportunities in Madhya Pradesh and anticipates securing additional orders in the near future.

On Wednesday, shares of Latteys Industries Ltd plunged 2 per cent to Rs 38.79 per share from its previous closing of Rs 39.59 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 38.79 per share, the stock gave multibagger returns of 198 per cent. Investors should keep an eye on this micro-cap stock.

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