Shares of this microcap company clocked a 5 percent upper-circuit in Thursday’s trading session after successfully completing trials for Coca-Cola. The stock has delivered around 50 percent returns to its shareholders in one year.
With a market capitalization of Rs. 510 crores, the shares of Taylormade Renewables Ltd started Thursday’s trading session on a higher note at Rs. 464.90 compared to its previous close of Rs. 446.95. During the trading session, the shares clocked a 5 percent upper circuit at Rs. 469.25 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had completed successful trials for Coca-Cola on its most complex and challenging streams, including the Best Before Date (BBD) Maaza Stream, BBD other beverages Stream, and RO Reject Stream.
Furthermore, the company mentioned that Coca-Cola faced challenges due to the typical characteristics of its BBD streams and other effluents, as well as the stringent requirements for treated BBD streams of this critical wastewater. The trials were conducted on the patented TRL RAIN technology pilot plant and were highly successful.
Moreover, Taylormade Renewables stated that these results have opened significant opportunities in the beverage industry for the TRL RAIN patented technology, which will result in further revenue generation for the company and also anticipates substantial growth in the beverage industry sector, which will help improve its bottom line.
Similarly, SABIC, S.A. also conducted pilot trials with the company for its salty wastewater and caustic stream coming from their Phenol Plant, and the results have shown excellent treatability of almost all constituents in the final condensate.
Additionally, Taylormade Renewable hopes to receive work orders for all the plants of Coca-Cola and SABIC in the near future.
Coming onto the company’s financial statements, the revenue decreased by 19 percent from Rs. 26 crores during H1FY24 to Rs. 21 crores in H2FY24. On the other hand, the net profits declined by 63 percent from Rs. 8 crores to Rs. 3 crores during the same timeframe.
The company is focusing on some major issues like treated input water for green hydrogen manufacturing and also for semiconductor manufacturing and is expecting to grow multifold by the current order book which is approximately USD 40 million and is also expecting more orders to close in the near future across multiple sectors.
Headquartered in Gujarat, Taylormade Renewables is a company that provides renewable energy solutions, primarily engaged in manufacturing solar energy equipment. It offers a range of products, including solar parabolic concentrating systems for steam generation, direct and indirect heating, solar air-conditioning, and solar drying and many more.
Written By Vaibhav Patil
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