This power generation company delivered over 165% returns in a year; do you hold it?

An investment of Rs 1 lakh in the shares of this company 1 year ago would have turned to Rs 2.65 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 jumped from Rs 342.75 on 22nd April 2022 to Rs 911.25 on 21st April 2023, an increase of 165% in the one-year holding period.   

Recent performance highlights 

In the recent quarter Q3FY23, on a consolidated basis, the company’s net profit increased by 11,254% YoY to Rs 24.98 crore. The company’s net revenue increased by 62.91% YoY to Rs 73.88 from Rs 45.35 crore.  

The company is currently trading at a PE of 38.8X against the industry PE of 19.5x. In FY23, the company delivered an ROE and ROCE of 33.6% and 26.4%, respectively. This stock falls in X sub-group and commands a market capitalization of Rs 1,930.99 crore. 

Company Profile 

Waaree Renewables Technology Limited (WRTL) (Formally known as Sangam Renewables Limited) is a pioneer company to look after if one is going for CAPEX model. The company was incorporated on 22nd of June, 1999 as a private company limited by shares. It was converted into a public company on November 18, 2011. It has its registered office in Mumbai and its energy generation site is located in state of Maharashtra.

Growth Drivers 

The company is engaged in the business of generation of power through renewable energy sources and also providing consultancy service in this regard.

Share price movements 

Today, the share of Waaree Renewable Technologies Ltd opened at Rs 911.25 and has touched a high and low of Rs 928.50 and Rs 911.25, respectively. So far 4,705 shares have been traded on the bourses.

At the time of writing, the shares of Waaree Renewable Technologies Ltd were trading at Rs 925, an increase of 1.51% from the previous day’s closing price of Rs 911.25 on BSE. The stock has a 52-week high and low of Rs 968.95 and Rs 280 respectively on BSE.