The ratio of a company’s net income to the equity held by its shareholders is known as return on equity, or ROE. ROE is a measure of a company’s profitability and the efficiency with which it makes money. An organization’s ability to turn equity financing into profits increases with its return on equity (ROE).
Here are three renewable stocks with ROEs of up to 96.9%.
Waaree Renewable Technologies Ltd.
Waaree Renewables Technologies Ltd is a company that generates electricity using renewable energy sources and offers consulting services related to this industry.
Waaree Renewables Technologies Ltd. is a Small-cap company with a market capitalization of Rs 2,832.22 crores. On, Friday, The company shares closed at Rs 1,360 a share, a decrease of 0.59 percent from the previous close price of Rs 1,368 a share.
Looking into the company’s financial performance, the company’s revenue in the second quarter is Rs 150.05 crore Q2FY24, and during the same period, the net profit is Rs 18.29 crore.
Waaree Renewables Technologies Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 96.9 percent and a return on capital employed (ROCE) of 84.06 percent. The company’s stock has delivered multi-bagger returns of 75.55 percent in six months.
Adani Green Energy Ltd
Adani Green Energy Ltd is among the largest renewable energy businesses who engaged in renewable power generation and other ancillary activities.
Adani Green Energy Ltd is a Large-cap company with a market capitalization of Rs 1,48,487.20 crores. On, Friday, The company shares closed at Rs 937.40 a share, an increase of 0.74 percent from the previous close price of Rs 930 a share.
Looking into the company’s financial performance, the company’s revenue in the second quarter is Rs 2,220 crore Q2FY24, and during the same period, the net profit is Rs 294 crore.
Adani Green Energy Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 27.52 percent and a return on capital employed (ROCE) of 8.46 percent. The company’s stock has delivered returns of 7.64 percent in six months.
Nava Ltd.
Nava Ltd. was founded in 1972 and is a manufacturer of alloys with operations in mining, agribusiness, power, and healthcare.
Nava Ltd. is a Small-cap company with a market capitalization of Rs 5,946.09 crores. On, Friday, The company shares closed at Rs 380.20 a share, a decrease of 0.98 percent from the previous close price of Rs 383.95 a share.
Looking into the company’s financial performance, the company’s revenue in the second quarter is Rs 921.99 crore Q2FY24, and during the same period, the net profit is Rs 192.7 crore.
Nava Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 22.23 percent and a return on capital employed (ROCE) of 18.85 percent. The company’s stock has delivered multi-bagger returns of 108 percent in six months.
Written By:- Abhishek Singh
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