Rs 62 to Rs 716: This stock turned into a multibagger in one year

Olectra Greentech stock has delivered 1,000 per cent returns in one year. The stock, which closed at Rs 62.55 on November 11, 2020 rose to an all-time high of Rs 716.40 today, surging 1,045% on the Bombay Stock Exchange (BSE). An amount of Rs 1 lakh invested in the shares of Olectra Greentech a year ago would have turned into Rs 11.45 lakh today.

In comparison, Sensex has risen 37.39 per cent during the period. The mid cap stock rose 4.91% to hit an all-time high of Rs 716.4 against the previous close of Rs 682.90 on BSE.

The share has gained 9.88% in the last 2 days after the firm won an order worth Rs 250 crore for supply of 100 electric buses from one of  the State Transport Corporations under FAME-II scheme  of government of India.

Olectra Greentech share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The shares have gained 426 per cent since the beginning of this year and climbed 36 per cent in one month. The stock has climbed 13.26 per cent in a week.

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Total 0.47 lakh shares of the firm changed hands amounting to a turnover of Rs 3.26 crore on BSE.

Promoters held 51.74 per cent stake in the firm and public shareholders owned 48.26 per cent at the end of September quarter. 59,579 public shareholders owned 3.96 crore shares of the firm.

Of these, 58,462 shareholders held stake with capital up to Rs 2 lakh. Only 55 shareholders with 10.50% stake held capital above Rs 2 lakh at the end of September quarter.

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21 foreign portfolio investors (FPIs) held 8.65% stake or 70.99 lakh shares in Q2 of the current fiscal.

The share of the firm has outperformed its peers in the last one year. While Centrum Electron share has risen 107 per cent, stock of another competitor Hindusthan Urban Infrastructure has gained 461 per cent in one year. Share of Swelect Energy managed to climb 101 per cent in one year.

The phenomenal rise in the stock of Olectra Greentech reflects the financial performance of the firm. In the September quarter, it reported a profit of Rs 3.60 crore against Rs 0.51 crore profit in the corresponding quarter of last fiscal.

Sales rose 42.18% to Rs 71.43 crore in September quarter against Rs 50.24 crore sales in the corresponding quarter of last fiscal.

On a quarter-on-quarter basis, net profit rose 172% from Rs 1.32 crore in the June quarter. Sales climbed 69% from Rs 42.27 crore in the June quarter. However, the firm reported a 40.28% fall in net profit at Rs 8.08 crore for fiscal ended 2021 against  Rs 13.53 crore in the March 2020 fiscal.

Sales rose 40.33% to Rs 281.38 crore in March 2021 fiscal against Rs 200.52 crore sales in the last fiscal.

Olectra Greentech is a public listed company with major interests in electric buses, composite insulators, amorphous core-distribution transformers, data analysis and IT consulting.

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