Green energy stocks are investments in companies that generate power from renewable energy sources, such as solar, wind, hydropower, biomass, bioenergy, geothermal, and ocean energy. Increasing environmental concerns, government support, and massive investments in the renewable energy sector in India are making it an attractive avenue for investors.
Top conglomerates in the space are running at it in full swing, expanding assets and capacities to help achieve India’s 2030 target of reaching 500 GW installed capacity.
Listed below are such Green energy stocks whose market capitalization is less than 1,000 crores and have delivered multibagger returns:
Ahasolar Technologies Ltd
With a market capitalization of Rs. 133 crores, the shares of the company engaged in the business of CleanTech enabling Energy Transition started Wednesday’s trading session on a lower note at Rs. 425.50 compared to its previous close of Rs. 441.65. During the trading session, the shares hit a low of Rs. 425, making a loss of around 3 percent and closed the day at Rs. 433 apiece.
Coming onto the company’s financial statements, the revenue zoomed by 21 percent from Rs. 17.30 crores during FY21-22 to Rs. 20.87 crores in FY22-23. In addition, the net profits magnified by 103 percent from Rs. 79 lakhs to Rs. 1.60 crores during the same timeframe.
The company’s core areas of expertise lie in Climate Change, Renewables, and Digital technology and they have developed an AI-based intelligent Solar Digital Platform that assists solar companies in streamlining processes, PV design, project management, and generation monitoring.
Furthermore, the company’s software platform, marketplace, and advisory services enable the adoption of renewable energy and facilitate the Energy Transition through Digital Transformation.
The stock has delivered a multibagger return of 103 percent to its shareholders in one year. For example, if someone had invested Rs. 1 lakh in these shares a year ago then the worth of those shares would be Rs. 2.03 lakhs now.
Waa Solar Ltd
With a market capitalization of Rs. 183 crores, the shares of the company engaged in solar power generation and its transmission started Wednesday’s trading session on a higher note at Rs. 132 compared to its previous close of Rs. 131.20. During the trading session, the shares hit a 5 percent lower circuit at Rs. 137.75 apiece.
Coming onto the company’s financial statements, the revenue increased marginally by 4 percent from Rs. 24 crores during H2FY23 to Rs. 24 crores in H1FY24. On the other hand, the net profits decreased by 28 percent from Rs. 7 crores to Rs. 5 crores during the same timeframe.
The company is in the power generation sector, specifically in solar power generation. The company sets up solar power projects and invests in special purpose vehicle (SPV) associate and subsidiary companies that are also engaged in solar power generation activities
The stock has delivered a multibagger return of 275 percent to its shareholders in one year. For example, if someone had invested Rs. 1 lakh in these shares a year ago then the worth of those shares would be Rs. 3.75 lakhs now.
Taylormade Renewables Ltd
With a market capitalization of Rs. 535 crores, the shares of this company providing renewable energy solutions started Wednesday’s trading session on a higher note at Rs. 512 compared to its previous close of Rs. 489.20. During the trading session, the shares hit a low of Rs. 475.05, making a loss of around 2 percent and closed the day at Rs. 482 apiece.
Coming onto the company’s financial statements, the revenue zoomed by 113 percent from Rs. 12.25 crores during H2FY23 to Rs. 26.11 crores in H1FY24. In addition, the net profits magnified by 323 percent from Rs. 1.90 crores to Rs. 8.05 crores during the same period.
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.
Recently, the company has filed a patent application for improvement in the sugar manufacturing process, which aims at increasing yield and improving sugar quality without the use of harmful chemicals in the sugar manufacturing process.
The stock has delivered a multibagger return of 100 percent to its shareholders in one year. For example, if someone had invested Rs. 1 lakh in these shares a year ago then the worth of those shares would be Rs. 2 lakhs now.
Written By Vaibhav Patil
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