Multibagger in just 1 year: Heavy buying witnessed in this penny stock under Rs 20; hitting back-to-back upper circuits and 52-week highs!

The shares of the company have a PE of 10.59x and an ROE of 437.16 per cent.

On Tuesday, one of the Top Gainers on BSE, shares of Suzlon Energy Ltd jumped 10 per cent upper circuit to Rs 18.54 per share. The stock also traded at a new 52-week high of Rs 18.54 per share. At the closing bell, shares of the company were trading at Rs 18.37 per share, up 8.96 per cent with a spurt in volume by more than 3.01 times on BSE.

Suzlon Energy informed that a meeting of the Board of Directors of the Company will be held on Friday, July 07, 2023 to consider and approve:

1. Capital raising by way of one or more or a combination of permissible methods; and
2. Seeking approval of the shareholders, if required.

According to the Quarterly Results, the company reported total revenue of Rs 1,689.91 crore in Q4FY23. The company reported a net profit of Rs 319.99 crore in Q4FY23 compared to a net loss of Rs 192.92 crore in Q4FY22, an increase of 266 per cent. According to the annual consolidated results, the company reported total revenue of Rs 5,946.84 crore in FY23. The company reported a net profit of Rs 2,887.29 crore in Q4FY23 compared to a net loss of Rs 176.55 crore in Q4FY22, an increase of 1,735 per cent.

The company also has crossed the 20GW wind energy installations milestone through 12,467 wind turbines installed across 17 countries spanning six continents solidifying Suzlon's position as a significant player in the global wind energy landscape. The cumulative order book as of May 30, 2023 stands at 1,542 MW. This includes the order book as on March 31, 2023, of 652 MW plus orders secured subsequently of 890 MW.

The company has a market cap of over Rs 22,000 crore with 3 years CAGR of 51 per cent. The shares of the company have a PE of 10.59x and an ROE of 437.16 per cent.

The stock generated multibagger returns of 200 per cent in just 1 year. Penny Stock Suzlon Energy should be kept under the radar.