Multibagger renewable energy solutions provider hit a 5 percent upper circuit in the day’s trade after it signed a contract worth Rs. 1.59 Crore and became an industrial partner with Indian Oil Corporation Limited (IOCL).
The shares of Taylormade Renewables Limited hit a 5 percent upper circuit in the day’s trade at Rs. 670.55 and its market capitalization is Rs. 736.76 Crores.
Taylormade Renewables Limited(TRL) has signed a project worth Rs. 1.59 Crore, with Indian Oil Corporation Limited (IOCL) and become an industrial partner with IOCL for its projects related to Net Zero Carbon Emission & Energy Efficiency Improvement.
As per the contract, IOCL will provide its requirement and proposed design which will be implemented by TRL in the design and production of such systems and implemented at IOCL and other PSUs.
The work order is for a dual-axis tracking parabolic dish-based solar thermal energy system (STES) for processing the heat and it is to be designed as per IOCL recommendations. The project is aimed to lower the fossil fuel use for Thermal Energy needs in production.
Once the project is successfully completed, it can be implemented at all IOCL refineries and other PSUs. By implementing such projects IOCL can achieve its Net Zero Carbon Emission targets.
It has delivered multi-bagger returns of 2,660 percent in a year and 86 percent in the last 6 months. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 27.60 lakhs in a year.
The company’s revenue from operations grew 226.03 percent from Rs. 6.07 Crore in FY22 to Rs. 19.79 Crores in FY23, accompanied by increasing profits of Rs. 0.16 Crore to Rs. 1.97 Crore.
It has reported a return on equity (ROE) of 10.28 percent and a return on capital employed (ROCE) of 13.56 percent, it is making good returns on its equity and capital employed, considering its profitability ratios are increasing.
Taylormade Renewables Limited is engaged in providing renewable energy solutions and it specializes in manufacturing Solar Parabolic Concentrating Systems for steam generation used in steam cooking and other industrial applications etc.
Written by: Bharath K.S
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