Multibagger stock: Websol Energy Systems shares zoomed over 1700% in 5 years; gave 5000% returns in last decade | Mint
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Business News/ Markets / Stock Markets/  Multibagger stock: Websol Energy Systems shares zoomed over 1700% in 5 years; gave 5000% returns in last decade
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Multibagger stock: Websol Energy Systems shares zoomed over 1700% in 5 years; gave 5000% returns in last decade

Looking at its calendar-year performances, the stock finished positively in 6 out of last 10 years. Notably, it generated multibagger returns in all these six years, with CY21 leading at a gain of 242%, followed by CY17, CY15, and CY23 with gains of over 166%, 158%, and 157%, respectively.

Considering the stock's all-time low of ₹3.75 apiece, it has gained nearly 11500% to date. (Pixabay)Premium
Considering the stock's all-time low of 3.75 apiece, it has gained nearly 11500% to date. (Pixabay)

Investing in the stock market has long been recognised as a pathway to potential wealth creation. One of the fundamental principles of investing in the stock market is the importance of time. The ability to identify and hold onto promising stocks over an extended period of time can yield significant returns.

Websol Energy Systems was one such stock in this regard that produced a whopping return over five years. From a trading price of 24 apiece in 2019, the stock has seen a remarkable rise of 1708% to trade at the current level of 434 apiece. In the previous trading session, the stock touched a new record high of 449 apiece. 

Also Read: RBI MPC 2024: Can the Indian central bank precede US Fed in cutting rates? Experts take on repo rate, policy stance

Looking at its calendar-year performances, the stock finished positively in 6 out of last 10 years. Notably, it generated multibagger returns in all these six years, with CY21 leading at a gain of 242%, followed by CY17, CY15, and CY23 with gains of over 166%, 158%, and 157%, respectively.

Overall, in the last decade, the stock delivered a whopping return of 5000%. Considering the stock's all-time low of 3.75 apiece, it has gained nearly 11500% to date.

Websol Energy System is a leading manufacturer of photovoltaic monocrystalline solar cells and modules in India. It has been in the business of producing and selling solar photovoltaic cells and modules since 1994.

The company has aligned its mission with the government of India's objectives to generate 300 GW of power from solar PV by 2030 and reduce carbon emissions by one billion tonnes by the end of the decade.

Also Read: Multibagger: Up 1232%, this penny stock turned 1 lakh into 13.32 lakh in 3 years

To address the growing need for solar cells and modules in domestic and international markets, the company is expanding solar module capacity to 550 MW and solar cells capacity to 2.4 GW solar cells in two phases. The first phase comprises 600 MW solar cells and 550 MW solar modules, and the second phase comprises 1.8 GW solar cells, the company's website shows.

The adoption of solar energy is on the rise in India, particularly within the residential and commercial sectors. The rise in rooftop solar installations is due to factors such as cost savings, consumer acceptance, and market competition. Solar power presents an appealing opportunity for commercial property owners to cut costs and boost returns, driving substantial growth within the industry.

Also Read: Budget 2024: Solar stocks Suzlon Energy, Tata Power, others shine as FM proposes rooftop solar aid for 1 crore homes

In the recent Union budget 2024-2025, the government proposed to provide assistance for the installation of rooftop solar systems for 1 crore houses under the “Pradhanmantri Suryodaya Yojana."

India has already taken a giant leap towards utilising renewable energy sources, and solar energy is one of the leading sources. India’s installed non-fossil fuel capacity was over 178.79 gigawatts, and the number has surged to 396% over the previous 8.5 years.

Additionally, since 2009, the capacity of solar energy installations has expanded by a factor of 24.4, and as of May 2023, the installed capacity was 66.7 GW, according to the company's FY23 annual report. 

 

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

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Published: 07 Feb 2024, 05:04 PM IST
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