Upper Circuit Solar Stock with 575 Per cent Profit Growth in FY24 – Do You Own It?
The company’s shares have delivered a multibagger return of over 120 per cent to its shareholders.
Incorporated in August 1993, this Small-Cap company listed on the NSE SME is a manufacturer of solar panels utilizing both monocrystalline and polycrystalline cell technologies. Today, the company's stock surged and hit the upper circuit limit, indicating substantial buying interest from market participants.
At the start of the day's trading session, shares of Alpex Solar Limited opened at Rs 838 per share, compared to the previous day's closing figure of Rs 818.55 per share on the NSE. Currently, the shares are at Rs 859.45 per share. The stock has rallied 5 per cent today and hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 2103.37 crore. Additionally, the shares have delivered a multibagger return of over 120 per cent in just 6 months.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Read Multibagger Engineering Company Bags Order Worth Rs 37,00,000 After Securing Order Worth Rs 3.48 Crore: Stock Gains Over 150 Per cent in Just 6 Months
As per the Half-yearly results, in March 2024, Alpex Solar Limited recorded a revenue of Rs 200 crore. The operating profit stood at Rs 23 crore resulting in a margin of 11 per cent. The net profit stood at Rs 19 crore compared to a profit of Rs 8 crore in September 2023. Looking at the annual performance, the company generated a revenue of Rs 413 crore in FY24. The operating profit for FY24 was Rs 37 crore with a net profit of Rs 27 crore compared to a net profit of Rs 4 crore in FY23.
Read Solar Energy Company Secures International Order Worth USD 10,83,720: FIIs & DIIs Purchased Stake for the First Time!
According to the shareholding pattern of the company, the promoters hold a significant 68.76 per cent stake. Public investors own 24.55 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 4.86 per cent and Domestic Institutional Investors (DIIs) own 1.82 per cent.
Check out my recent article here.
Investors must keep this small-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.