Shares of this small-cap renewable energy company doubled its investors wealth in the last 1 year!

Shares of this small-cap renewable energy company doubled its investors wealth in the last 1 year!

by 5paisa Research Team Last Updated: Sep 07, 2023 - 05:09 pm 1.3k Views
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An investment of Rs 1 lakh in the shares of this company one year ago would have turned to Rs 2 lakh today.

Waaree Renewable Technologies Ltd, an S&P BSE SmallCap company, has delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price has jumped from Rs 308.20 on 16 March 2022 to Rs 616.65 on 14 March 2023, an increase of 100% in the one-year period.

An investment of Rs 1 lakh in the shares of this company one year ago would have turned to Rs 2 lakh today.

Recent performance highlights 

In the recent quarter Q3FY23, on a consolidated basis, the company’s net revenue increased by 62.91% YoY to Rs 73.88 crore. Similarly, the bottom line increased from Rs 0.22 crore in Q3FY22 to Rs 24.98 crore in Q3FY23.

The company is currently trading at a TTM PE of 25.72x against the industry PE of 39.37x. In FY22, the company delivered an ROE & ROCE of 34% and 26% respectively. The company is a constituent of Group A stocks and commands a market capitalization of Rs 1313 crore.

Share price movement

Today, the scrip opened at Rs 632.20 and has touched a high and low of Rs 634.95 and Rs 625, respectively. So far 9,408 shares have been traded on the bourses.

At 1 pm, the shares of Waaree Renewable Technologies Ltd were trading at Rs 627.65, an increase of 1.78% from the previous day’s closing price of Rs 616.65 on BSE. The stock has a 52-week high & low of Rs 665 and Rs 278 respectively on BSE.

Company Profile

Waaree Renewables Technology Limited (WRTL) (Formally known as Sangam Renewables Limited) was incorporated on 22nd of June, 1999. The company is engaged in the business of generation of power through renewable energy sources and providing consultancy service in this area.

Waaree Renewables Technology Limited (WRTL) is subsidiary company of Waaree Group and spearheading the Solar EPC business. Waaree group is a leading renewable energy company that caters Individual, Industrial and Commercial customers by encouraging them to adapt energy solutions that helps in reducing the release of carbon.

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About the Author

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