8,400 per cent returns and 897 MW order book: This multibagger power generation company bags new order worth Rs 183,00,00,000!
The stock gave multibagger returns of 185 per cent in just 1 year, 490 per cent in 2 years and a whopping 8,400 per cent returns in 3 years.
Waaree Renewable Technologies Ltd (WRTL) informed that the company have received a Letter of Award (LoA) for the execution of engineering, procurement and construction (EPC) works of a solar power project of 70 MW DC capacity on turnkey basis along with five years of operation & maintenance work. The order is received from the largest integrated specialized seamless tube manufacturer in India for worth Rs 183,00,00,000.
According to the Quarterly Results, the net sales increased by 24.5 per cent to Rs 150.06 crore and the net profit increased by 124 per cent to Rs 18.29 crore in Q2FY24 compared to Q2FY23. According to the half-yearly results, the net sales increased by 29.4 per cent to Rs 279 crore and the net profit increased by 63 per cent to Rs 29.4 crore in H1FY24 compared to H1FY23. According to its annual results, the net sales increased by 117.3 per cent to Rs 351 crore and net profit increased by 522.35 per cent to Rs 55.33 crore in FY23 compared to FY22.
Waaree Renewables Technologies Ltd is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard. WRTL has a market cap of over Rs 2,800 crore and has delivered good profit growth of 130 per cent CAGR over the last 5 years. As of September 30, 2023, the company’s order book stands over 897+ MW.
On Wednesday, shares of Waaree Renewable Technologies Ltd plunged 1.38 per cent to Rs 1,346.20 per share with an intraday high of Rs 1,383 and an intraday low of Rs 1,325.
The stock gave multibagger returns of 185 per cent in just 1 year, 490 per cent in 2 years and a whopping 8,400 per cent returns in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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