This midcap stock riding high on ESG score is giving multibagger returns!

This midcap stock riding high on ESG score is giving multibagger returns!

by 5paisa Research Team Last Updated: Dec 10, 2022 - 11:17 am 39.5k Views
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Borosil Renewables Ltd has risen more than 144% in one year and 252% in the last two years. This multibagger stock of 2021 is all set to outpace itself in 2022.

  1. Rs 100,000 invested six months ago would have become Rs 213,230, giving a price return of 113.23%.

  1. Rs 100,000 invested a year ago would have become Rs 244,820 giving a price return of 144.82% and,

  1. Rs 100,000 invested two years back would have become Rs 352,360 giving a price return of 252.36%.

Indian Solar energy industry is shinning bright given the Government target of 100 GW of installed capacity by 2022 and to grow to 300 GW by 2030. Such tall ambitions require solar installation of 25 GW annually. To further its drive, the Government has floated a PLI Scheme of Rs 4500 for the same.

So how does Borosil Renewable fit the bill?

Borosil Renewable Ltd is the first and the only manufacturer of low iron solar glass for application in solar modules, which constitutes 7%-8% of the cost of the module’s production cost. Borosil Renewable commands 1/3 of the domestic market share in the solar glass segment while the larger share of the pie i.e 2/3rd is being imported from China and Malaysia. BRL has expanded its glass capacity from 180 TPD to 450 TPD, which is equivalent to the production of 2.5 gigawatts of solar modules annually. The company will more than double its solar glass production capacity from 450 tons per day to 1000 TPD. Capacity is being further expanded to 2100 TPD in phases by 2024.

The stock has rallied in the last six months with price returns more than double, outperforming the benchmark Sensex (a modest 9.22%) and BSE Midcap returning 5.32% in six months.

The company's net profit rose 142.60% to Rs 34.11 crore on a 40.70% rise in net sales to Rs 160.52 crore in the last reported Q2 September 2021 over Q2 September 2020.

The shares of BRL had hit its 52- week high of Rs 748 apiece on December 17 and is currently trading at Rs 634.15 with a gain of 3.17% at 2.16 pm

Will the sun continue to shine on this solar energy stock in 2022 needs to be watched closely in days to come?

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