During Wednesday’s trading session, the shares of a manufacturer of solar cells and modules hit a 5 percent upper circuit at Rs. 1,353.9 on BSE, after the company reported Q2 FY25 results with a rise in revenue from operations by nearly 29 percent QoQ and 478000 percent YoY.
With a market cap of Rs. 5,714.3 crores, the shares of Websol Energy System Limited opened in the green at Rs. 1,353.9, compared to its previous closing price of Rs. 1,289.45.
What’s the news:
The fluctuations in the share prices were observed after Websol Energy System Limited announced the financial results for Q2 FY25, through the latest filings with the stock exchanges on Tuesday post-market hours.
For Q2 FY25, Websol Energy System reported consolidated revenue from operations of Rs. 143.7 crores, reflecting a significant growth of around 29 percent QoQ from Rs. 111.6 crores in Q1 FY25, as well as an increase of about 47800 percent YoY from Rs. 0.3 crores in Q2 FY24.
The company’s PAT for Q2 FY25 grew to a profit of Rs. 42 crores, representing a significant increase of around 83.6 percent QoQ from Rs. 22.8 crores in Q1 FY25, as well as a year-on-year increase from a loss of Rs. 4 crores in Q2 FY24.
Additional Information:
Websol Energy System has an existing capacity of 600 MW for its Mono PERC cell line and 550 MW for its module line, with a capacity utilisation of 85 percent.
The company will further expand its capacity by adding 600 MW Mono PERC cell line at its Falta facility, a proposal made in the first quarter of FY25. This expansion will require an investment of nearly Rs. 220 crores, funded through internal accruals and financing from banks and financial institutions.
This capacity increase aligns with the company’s commitment to expanding solar energy production and addressing the significant demand and supply gap in the DCR market.
Shareholding Pattern:
As per the September 2024 shareholding pattern, the Promoters hold a 27.71 percent stake in the company, while Foreign Institutional Investors (FII) hold a 0.48 percent stake, and Retail Investors hold a 71.8 percent stake in Websol Energy System Limited.
Stock Performance:
The stock has delivered multibagger returns of nearly 641.7 percent in one year, and around 99 percent of positive returns in the last six months. So far in 2024, the shares of Websol Energy System have given multibagger returns of about 446.2 percent.
About the company:
Websol Energy Systems Limited is primarily engaged in only one product line, which is the business of manufacturing photovoltaic crystalline solar cells and related modules in India.
Written by Shivani Singh
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