In Monday’s trading session, the shares of a manufacturer of solar cells and modules hit a 5% upper circuit at Rs. 635.65 on BSE, after reporting financial results for Q1 FY24-25 with a rise in the revenue from operations by 350% QoQ and 61900% YoY.
With a market capitalisation of Rs. 2,682.8 crore, the shares of Websol Energy System Limited opened in the green at Rs. 635.65, as against its previous closing price of Rs. 605.4.
What’s the News:
The fluctuations in the share prices were observed after the company announced the financial results for Q1 FY24-25, through the recent filings with the stock exchanges on Saturday.
The revenue from operations for Q1 FY24-25 stood at Rs. 111.6 crores, marking a 61900% YoY rise from Rs. 0.18 crores in Q1 FY23-24, as well as a 350% growth quarter-on-quarter from Rs. 24.8 crores in Q4 FY23-24.
In Q1 FY24-25, the company achieved a net profit of Rs. 22.8 crores, a significant turnaround from the Rs. 5 crores loss reported in Q1 FY23-24, while on a quarter-on-quarter basis, it grew from a loss of Rs. 58.6 crores recorded in Q4 FY23-24.
Moreover, Websol Energy System is in progress for an expansion plan by way of commissioning a 600 MWP Mono PERC bifacial solar cell manufacturing facility and a 550 MWP module manufacturing facility.
The commercial production of the first phase of the 600 MWP (Mono PERC bifacial solar cell project was commenced in the last quarter of 2024 and the 550 MWP module line is currently in progress.
Also read
Stock Performance
The stock has delivered nearly 155.3% of multibagger returns in one year and around 61.3% returns in the last six months. So far in 2024, the shares of Netweb Technologies India have given about 91.2% of positive returns.
About the Company:
Websol Energy Systems Limited is primarily engaged in only one product line, which is the manufacturing of Solar photo-Voltaic cells and modules.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
