The Indian renewable energy sector is expected to increase at a CAGR of more than 10% between 2023 and 2028. In the long run, the Renewable energy sector is likely to be pushed by factors such as supportive government legislation, increased environmental consciousness, subsidies, and tax benefits for installing solar panels.
The Ministry of New and Renewable Energy has set a target of 500 GW of installed renewable energy capacity by 2030, which will most likely allow for future industry development. As a result, additional investments in the green energy industry are expected to drive future market growth.
Here are three Green energy stocks under Rs 100 with a Net Profit Margin of up to 46%
NHPC Ltd.
NHPC Ltd is a Large-cap stock with a market capitalization of Rs 53,389 crore. The company’s shares closed at Rs 53.15 apiece, up 0.20 percent on Friday from the previous close price.
The Company’s Operating Margin increased from 53.99 percent in FY22 to 54.02 percent in FY23, while the Net Profit Margin slightly declined from 41.09 percent to 39.97 percent during the same period.
The stock has gained 32 percent in the previous six months and by 40 percent in a year.
The company’s revenue declined by 1 percent year on year, from Rs 2,785 crore in Q1FY23 to Rs 2,757 crore in Q1FY24. During the same time period, net profit increased by 4 percent from Rs 1,052 crore to Rs 1,095 crore.
NHPC is engaged in the business of generation and sale of bulk electricity to various power utilities. Its other businesses include project management, building contracts, consultant assignment services, and power trading.
SJVN Ltd.
SJVN Ltd is a mid-cap stock with a market capitalization of Rs 28,549 crore. The company’s shares closed at Rs 72.65 apiece, down 0.07 percent on Friday from the previous close price.
The Company’s Operating Margin increased from 63.71 percent in FY22 to 74.12 percent in FY23, while the Net Profit Margin rose from 40.76 percent to 46.11 percent during the same period.
The stock has gained 118 percent in the previous six months and by 116 percent in a year.
The company’s revenue declined by 33 percent year on year, from Rs 1,004 crore in Q1FY23 to Rs 674 crore in Q1FY24. During the same time period, net profit declined by 56
percent from Rs 608 crore to Rs 270 crore.
SJVN is engaged in the electricity generation business. In addition, the company also provides consulting services for hydropower projects.
WAA Solar Ltd
WAA Solar micro-cap stock with a market capitalization of Rs 106 crore. The company’s shares closed at Rs 80 apiece, up 2.38 percent on Friday from the previous close price.
In the recent fiscal year, the company reported an operating margin of 48.90 percent and a Net profit margin of 25.15 percent.
The stock has gained 114 percent in the previous six months and by 84 percent in a year.
The company’s revenue declined by 6 percent year on year, rising from Rs 46 crore in FY 22-23 to Rs 49 crore in FY 23-24. During the same time period, net profit increased by 25 percent from Rs 8 crore to Rs 10 crore.
Waa Solar Ltd generates solar electricity by developing a Solar electricity Project and investing in Special Purpose Vehicle associates and subsidiary firms that generate solar power. The company also intends to start the Engineering, Procurement, and Construction (EPC) phase of the solar project.
Written by Omkar Chitnis
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