Solar penny stock under Rs 50: HMPL has officially announced a significant alteration to its Memorandum of Association; Details inside!

Hazoor Multi Projects Limited (HMPL) has officially announced a significant alteration to its Memorandum of Association (MOA), as approved during the company’s Extraordinary General Meeting (EGM) held on July 16, 2025. This development, disclosed under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, reflects a strategic expansion in the company’s objectives. HMPL has broadened its scope beyond infrastructure development to now include operations across renewable energy, oil and gas services, maritime infrastructure, hospitality, education, entertainment, and environmental engineering. These updates underline the company’s intention to emerge as a multi-domain enterprise capable of capitalising on diverse opportunities both in India and internationally.

The updated object clauses illustrate HMPL's ambition to evolve into a future-ready conglomerate. Notably, the company has added objectives such as promoting energy-efficient technologies and renewable energy solutions—including solar, wind, and biofuels—while establishing joint ventures and global partnerships. Further, HMPL aims to expand into toll collection services, shipbuilding, oilfield services, waste management, and construction of large-scale infrastructure such as highways, metro rails, ports, and airports under various PPP models like BOT, BOOT, and BOOST. This expansive strategic vision suggests HMPL is gearing up to become a major player across critical growth sectors, positioning itself to benefit from macroeconomic trends and government-led development initiatives.

 Hazoor Multi Projects Limited (HMPL) has recently secured a Rs 913 crore EPC contract from Apollo Green Energy Limited for a 200 MW solar power project in Gujarat, with completion targeted for March 2026 and a revised structure that ensures a fixed 5 per cent margin. Meanwhile, its subsidiary Hazoor Infra Projects Pvt Ltd. received Provisional COD for a major highway project in Maharashtra, making it eligible for annuity payments from MoRTH. Additionally, HMPL expanded into mining and oil & gas by acquiring a 51% stake in Vyom Hydrocarbon Private Limited.

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 990 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 255 per cent in just 2 years and a whopping 1,305 per cent in 3 years. From Rs 0.13 to Rs 46 per share, the stock rocketed by 35,000 per cent in 5 years.

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