Solar penny stock under Rs 50: Company allotment of 42,12,000 equity shares on conversion of warrants post 10:1 stock split

Hazoor Multi Projects Limited (HMPL) approved the allotment of 42,12,000 equity shares, each with a face value of Re 1, at an issue price of Rs 30 (including a premium of Rs 29). This action resulted from the conversion of 4,21,200 warrants, which were originally issued at Rs. 300 each to "Non-Promoters/Public Category" on a preferential basis. The conversion followed a sub-division of the company's equity shares from Rs 10 to Re 1. HMPL received Rs. 94,770,000 as the remaining 75 per cent of the issue price from the allottees who exercised their conversion rights. This allotment increased the company's issued and paid-up capital to Rs 229,173,410, comprising 22,91,73,410 equity shares of Re 1 each.

Additionally, had received a Letter of Award (LOA) from Apollo Green Energy Limited (AGEL) for a domestic Engineering, Procurement & Construction (EPC) contract. This project, valued at Rs 913 crore, was for the "NHPC - 200 MW, EPC Contract for Design, Engineering, Supply, Construction, Erection, Testing, and Commissioning of 200 MW Grid-connected Solar PV Power Project in GSECL's RE Solar Park at Khavda (Stage-3) in Gujarat." HMPL was responsible for arranging the necessary financing, and it was clarified on July 3rd, 2025, that AGEL would share 5 per cent of the contract value in place of financing, providing HMPL with a clearer fixed margin. The project was slated for completion by March 2026.

Furthermore, HMPL's wholly-owned subsidiary, Hazoor Infra Projects Private Limited (HIPPL), had received the Provisional Commercial Operation Date (PCoD) from the Ministry of Road Transport and Highways (MoRTH) on March 30, 2025. This milestone was for a Hybrid Annuity Mode (HAM) Project involving the "Rehabilitation and Up-gradation of Arawali-Kante Section of NH-66 to Four-Lane with Paved Shoulders in the State of Maharashtra." With the PCoD declaration, HIPPL became eligible to receive annuity payments from MoRTH. HIPPL was also granted a Provisional Completion Certificate, confirming 31.395 kilometres, or 80.01 per cent of the total project length, had been completed. Earlier, HMPL had acquired a 51 per cent equity stake in Vyom Hydrocarbon Private Limited (VHPL) for Rs 1,02,000 in cash, expanding HMPL's business into sectors like mining, oil and gas, and environmental engineering.

About the Company

Hazoor Multi Projects Ltd is a leading Indian company that builds roads, bridges and other civil engineering projects. They focus on good quality, safety and finishing projects on time. They're known for doing excellent work. They have skilled workers and the right equipment to handle big and complex projects. Hazoor Multi Projects helps India grow by building important infrastructure that boosts the economy and makes travel easier.

The company has a market cap of over Rs 965 crore. The company reported net sales of Rs 249 crore and a net profit of Rs 17 crore in its Quarterly Results (Q4FY25) while in its half-yearly results (H2FY25), the company reported net sales of Rs 414 crore and a net profit of Rs 20 crore. Looking at its annual results (FY25), the company reported net sales of Rs 638 crore and a net profit of Rs 40 crore. The Board has recommended a final dividend of Re. 0.20 per equity share (20 per cent) for the financial year 2024-25.

In FY25, DIIs took a fresh entry and bought 8,08,983 shares or 0.39 per cent stake compared to FY24. The company's shares have a PE of 10x whereas the sectoral PE is 21x. The stock gave multibagger returns of 225 per cent in just 2 years and a whopping 1,285 per cent in 3 years. From Rs 0.13 to Rs 44.90 per share, the stock rocketed by 34,400 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.