New Delhi: The stock market may have been volatile, but there are many stocks that have made investors rich. One such stock is of Renewable Energy Company (Waaree Renewable Technologies Limited). Shares of this small-cap renewable energy company have doubled investors’ wealth in the last one year. Shares of Renewable Technologies Ltd. have increased from Rs.308.20 as on March 16, 2022 to Rs.616.65 as on March 14, 2023. It has gained close to 100% in the last one year holding period. The company is a part of the S&P BSE SmallCap Index. This stock has given multibagger returns in the last one year. An investment of Rs 1 lakh two years ago in the shares of this company has turned into Rs 2 lakh today.
On a consolidated basis in Q3FY23, the company’s net revenue grew by 62.91% YoY to Rs 73.88 crore. Profit increased from Rs 0.22 crore in Q3 FY22 to Rs 24.98 crore in Q3 FY23. The company is currently trading at a TTM PE of 25.72x as against industry PE of 39.37x. The company achieved ROCE and ROE of 26% and 34% in FY22. Today, Renewable Energy shares have reached a high of Rs.640.95 and a low of Rs.640.95. The 52-week high and low levels of the stock are Rs 665 and Rs 278 respectively on BSE. Let us tell you that Renewables Technologies Limited is engaged in the business of power generation. The company is a subsidiary of Vari Group and is leading the Solar EPC business.
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