The solar energy sector is one of the top growing sectors in India, solar energy sectors creates and installs equipment to convert solar energy into electricity. As the demand for energy consumption in India is anticipated to rise more than any other nation in the upcoming decade. Companies operating in the solar sector are expected to benefit the most.
So here are top 3 solar stock in India with margins of more than 15 percent:
Waaree Renewable Technologies Ltd:
Incorporated in 1999, Waaree renewable technologies ltd is engaged in the business of generation of power through renewable energy. The company has a market capitalization of 2,852.73 crores.
On 5th October 2023, shares of Waaree renewable tech Ltd were trading at Rs. 1361 per share and it has delivered multibagger returns of 203.15 percent in the last 1 year.
Waaree renewable technologies has the highest operating margin of 24 percent in FY23. Company’s revenue has increased by 117.31 percent to 350.96 crore in FY23 from 161.5 crore in FY22, in the same time period company’s profit increased by 544.42 percent to 55.42 crore from 8.6 crore.
Tata power Ltd:
Tata power is engaged in the business of generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources. The company has a market capitalization of 82,008 crore.
On 5th October 2023, shares of Tata power Ltd were trading at Rs. 258.95 per share and it has delivered 20.68 percent returns in the last 1 year.
Tata power has an operating margin of 14 percent in FY23. Company’s revenue has increased by 28.71 percent to 55,109.08 crore in FY23 from 42815.67 crore in FY22, in the same time period company’s profit increased by 91.59 percent to 3,336.44 crore from 1741.46 crore.
Suzlon energy Ltd:
Incorporated in 1995, Suzlon energy manufactures wind turbine generators and provides end to end solutions for solar power projects. The company has a market capitalization of 38,496 crore
On 5th October 2023, shares of Suzlon energy Ltd were trading at Rs. 29.45 per share and it has delivered multibagger returns of 284.97 percent in the last 1 year.
Suzlon energy has an operating margin of 14 percent in FY23. Company’s revenue has decreased by 9.29 percent to 5,970.53 crore in FY23 from 6581.78 crore in FY22, in the same time period company’s profit increased to 2,849 crore from loss of 199.59 crore.
Written by Vinit Israni
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
