In the stock market, only few stocks have the ability to deliver extraordinary returns in a relatively short period. One such exceptional performer is Taylormade Renewables, whose shares have witnessed an astounding rally, soaring over 3602% in the last one year.
Long-term investors have witnessed remarkable rewards as shares of the company in the last three years surged from ₹4.90 apiece to the current level of ₹503, boasting a phenomenal return of 10165%. In comparison, the Nifty Smallcap 100 index has gained 123% in the same time frame.
The year 2023 has been particularly astonishing for the scrip, as it has witnessed a meteoric rise of 1215% so far. Each month has been marked by impressive gains, with February standing out as a true multi-bagger with a return of 130.54%. January and April were equally impressive, delivering 69% and 52% returns, respectively.
This year's surge in the stock price can be attributed to a combination of factors, including strong order wins coupled with a robust financial performance.
Taylormade Renewables is a small-cap stock with a market capitalisation of ₹550 crore. It is primarily engaged in providing renewable energy solutions.
The company's specialisation is in the manufacturing of Solar Parabolic Concentrating Systems for steam generation used in steam cooking and other industrial application, direct or in-direct heating, including solar air-conditioning and solar space heating, solar drying, solar waste water evaporation, and many more applications requiring thermal energy.
The company has developed TRL Rain Technology to transform the most challenging industrial waste streams into valuable water resources. This distillation alternative mimics nature’s rain cycle to reduce the cost of treatment while increasing production reliability, as per the company's website.
ISRO, Jindal Power, AMI Organics Vardhman Group (M.P.), Asian Paints, GSP Crop Science, ONGC Torrent Pharma, Bharat Heavy Electricals, Toyota Industries and Engines, and Cairn India are among the company's prestigious clients.
In July, the company secured a work order from India’s largest paint manufacturer, Asian Paints, which is worth ₹1.54 crore. This order is for the proprietary TRL RAIN Technology plant, according to the company's regulatory filing.
Looking back, in April, it secured more orders for its TRL Rain Technology plant with an installation worth ₹8.11 crore from Deepak Phenolics Limited and from HWM Enviro Pvt. Ltd, with order value of ₹145 crore.
On the financials front, the company reported a 226% jump in revenues to ₹19.79 crore in FY23 as compared to ₹6.07 crore in FY22. The operating profit grew by 235% YoY to ₹3.32 crore. The profit after tax improved to ₹1.97 crore, an increase of 1135% over FY22's net profit of ₹0.16 crore.
During the Financial Year 2023–24, the company has already maintained an order book of more than ₹160.00 crore, and it is going to increase much more by the end of the current fiscal year.
The company aims to achieve 8–10 times revenue growth compared to FY23, with a positive outlook for EBITDA, PBT, and PAT figures for FY23–24.
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