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Investment Horizon : Query-Specific : Subscribers can ask their queries regarding stocks they hold and get our expert guidance. 

Time Technoplast Ltd. is a multinational conglomerate involved in the manufacturing of technology and innovation-driven polymer and composite products. The company has reported strong financial results for Q1FY25. With a 16 per cent increase in volume and a 14 per cent rise in revenue, the company’s net sales have reached ₹1,231 crore while the profit after tax has surged by 41 per cent to ₹79 crore. The company’s strong performance is driven by growth in key areas like CNG composite cylinders, which saw a 32 per cent increase in sales. 

Time Technoplast is also making significant strides in reducing debt and investing in future growth. Currently, the stock is trading at a PE of 29.9 times which is lower than the industry PE of 37.3 times, indicating that the stock is undervalued. It is experiencing strong demand for Type IV composite cylinders for CNG cascade, with an order book of around ₹175 crore. The company is aiming for a 15 per cent CAGR in revenue over the next three years, with a projected revenue target of ₹7,500 crore. The EBITDA margin is expected to increase to 40.2 per cent due to growth in value-added products. The company is also developing e-rickshaw battery containers and focusing on new composite products for automotive and other sectors. Hence, we recommend BUY. 

Tata Power Company Ltd. is a leading Indian power company primarily engaged in the generation, transmission and distribution of electricity. It aims to transition to a fully renewable energy portfolio, manufacturing solar roofs and is also planning to build 1 lakh EV charging stations by 2025. The company’s strong performance in Q1FY25, marked by a 19th consecutive quarter of capacity increase and robust power demand growth, highlights its market leadership. 

Tata Power is also making significant investments in renewable energy projects, including a 4 GW cell and module plant and a 600 MW hydro project in Bhutan. 

The company is leading in the PM Surya Ghar programme with over 1 lakh rooftop solar installations. It has a capex of ₹4,000 crore spent this quarter, with 60 per cent in renewables and 40 per cent in transmission and distribution. The company’s future capex plans include a ₹20,000 crore plan for renewables, transmission, and distribution and thermal projects. Tata Power’s future outlook appears promising, and the company’s progress toward sustainable growth and profitability is encouraging. Hence, we recommend BUY. 


Established in 2012, Gensol Engineering Limited, part of the Gensol Group, provides comprehensive engineering, procurement and construction (EPC) services for solar power plants globally, with a proven track record of installing over 770 MW of solar capacity across ground-mounted and rooftop installations. Committed to sustainability, Gensol Engineering is revolutionising the Indian electric vehicle (EV) industry by setting up a state-of-the-art manufacturing facility in Pune for electric three-wheelers and four-wheelers, capable of producing 30,000 vehicles annually 

Additionally, it offers extensive EV leasing solutions for passenger, fleet and cargo needs. Headquartered in Maharashtra, Gensol Engineering specialises in solar EPC services, having built solar power plants exceeding 590 MWp (megawatt peak) globally, and is dedicated to advancing clean energy and electric mobility solutions. According to its Quarterly Results, the net sales increased by 104.1 per cent to ₹295.15 crore, EBITDA increased by 127.2 per cent to ₹99.33 crore and profit after tax increased by 51 per cent to ₹15.15 crore in Q1FY25 as compared to Q1FY24. 

Its annual results indicate that net sales increased by 147 per cent to ₹996 crore, EBITDA increased by 218 per cent to ₹260 crore and profit after tax increased by 129 per cent to ₹53 crore in FY24 as compared to FY23. The company boasts a strong fundamental position. With projected revenue of ₹2,000 crore for FY25, representing approximately double the FY24 figure, the company is poised for substantial growth. 

Some of the key drivers that will propel its growth include the burgeoning EV leasing and manufacturing segments, coupled with a robust order pipeline. The government’s mission to increase the contribution of renewable energy will also contribute to the company’s top-line. Its strategic focus on expanding into battery energy storage systems will further reinforce its growth trajectory. Hence, we recommend BUY. 


Kaynes Technology Ltd., a seasoned Indian ESDM player with over three decades of expertise, offers comprehensive electronics solutions from conceptualisation to lifecycle support. Complementing its manufacturing prowess, Kaynes Technology operates service centres in Cochin and Mumbai, catering to railway, aerospace, defence and industrial clients. According to its financials, the company has a market capitalisation of over ₹35,000 crore and as of June 30, 2024, its order book was at ₹5,038.60 crore. 

The net sales increased by 70 per cent to ₹504 crore, the operating profit increased by 66 per cent to ₹66.9 crore and the net profit skyrocketed by 106 per cent to ₹50.8 crore in Q1FY25 as compared to Q1FY24. This robust growth was driven by strong demand across all the business segments, with a particularly impressive performance in the industrial space. 

The company aims to achieve USD 1 billion in revenue by FY28, driven by new ventures in OSAT and PCB manufacturing. By focusing on high-technology products and value-added services, the company expects to improve its margins and become a preferred supplier in the electronics assembly industry. 

With ambitious targets of ₹3,000-3,500 crore for OSAT and ₹1,000-1,500 crore for PCB by FY30 and a strategic shift towards advanced packaging, the company anticipates higher profitability from these new business lines compared to its legacy operations. 

The company’s focus on developing new products and enhancing the existing ones positions it for future growth. Rising profits indicate strong performance. However, given the current overvaluation of the company’s shares, a partial profit-taking strategy may be prudent. 

Hence, we recommend PARTIAL SELL and HOLD. 

SJVN Ltd, a leading Indian electricity generation company, focuses on hydro and renewable energy sources, operating major power plants like the Nathpa Jhakri Hydro Power Station, India’s largest hydropower facility. The company aims to substantially increase its generation capacity to meet the nation’s growing energy demands. 

SJVN Limited reported strong financial performance in Q1FY25, with revenue from operations increasing to ₹831.73 crore from ₹664.62 crore in Q1 FY24. Profit after tax also rose to ₹327.15 crore compared to ₹270.20 crore in the same period last year. Additionally, the company received investment approval for the 669 MW Lower Arun Hydroelectric Project in Nepal and was allocated the 2,400 MW Darzo Lui Pumped Storage Project in Mizoram. 

The company's total installed capacity now stands at 2466.50 MW, with a target of 25,000 MW by 2030 and 50,000 MW by 2040. Recently, the company signed 2 MoUs worth ₹48,000 crore with the Maharashtra Government. 

The first MoU was signed with the Department of Water Resources for the development of five PSPs with a total capacity of 8100 MW. The second MoU was signed with Maharashtra State Power Generation Company (MAHAGENCO) to develop a 505 MW Floating Solar Project at Lower Wardha Dam. 

SJVN is backed by the Government of India and Himachal Pradesh, ensuring stable revenue streams through long-term power purchase agreements with state electricity boards. It is a financially stable company with a history of making profits. This makes it a good choice for long-term investors. The company is expanding its capacity and focusing on new energy sources, considering the high electricity demand. 

Therefore, we recommend HOLD. 

IRB Infrastructure Developers Ltd, a leading Indian infrastructure company, focuses on road construction and development with a strong portfolio of Build-Operate-Transfer (BOT) and Toll-Operate-Transfer (TOT) projects. This positions the company as a key player in the Indian highways sector, contributing significantly to the nation's infrastructure development. 

Toll collections for major projects, such as the Mumbai-Pune and Ahmedabad-Vadodara highways, have shown steady growth, rising from ₹6.55 crore/day in Q1FY24 to ₹6.84 crore/ day in Q1FY25. The Private InvIT's per-day toll collection has witnessed a significant surge, rising from ₹6.45 crore in Q1FY24 to ₹10.25 crore in Q1FY25. This growth is attributed to increased traffic, tariff revisions and the addition of new projects. A tariff revision of approximately 2.5 per cent was implemented effective June 3, 2024. The Private InvIT declared a distribution of ₹72 crore for Q1FY25, contributing to IRB's cash flow. The company also declared an interim dividend of 10 per cent, amounting to approximately ₹60 crore. As of June 2024, LIC owns a 3.33 per cent stake in the company and has an order book worth ₹33,600 crore as of June 30, 2024. 

The shares of IRB Infrastructure are currently trading at a higher valuation than their historical average and the industry average. While this might suggest the stock is overvalued, the company has several factors working in its favour. First, the company has a strong order book. This is good news for its future growth. Second, the Indian government is investing heavily in infrastructure development, which creates opportunities for companies like IRB Infrastructure. Third, the company has been growing its profits and sales at a healthy pace over the past three years. 

Hence, we recommend HOLD. 

Jaiprakash Power Ventures Ltd. is a leading Indian power company with a strong focus on both hydropower and thermal power. Established in 1994, JP Power has grown significantly to become one of the country’s largest independent power producers. It has demonstrated an impressive financial performance in recent years. In the fiscal year 2024, the company’s net sales increased by 17 per cent to ₹6,762.78 crore compared to the previous year. This growth was accompanied by a remarkable 1,487.6 per cent surge in net profits, reaching ₹1,021.95 crore. 

Over the past three years, JP Power has achieved a 27 per cent compound annual growth rate (CAGR) in net sales. The company’s strong financial performance is driven by. Looking ahead, JP Power is well-positioned for continued growth. The company has several new power projects in the pipeline, including 3,200 MW of projects in Arunachal Pradesh and 720 MW in Meghalaya. 

Furthermore, the growing demand for electricity in India, coupled with government support for the power sector, presents significant opportunities for JP Power to expand its operations and contribute to the country’s energy needs. India’s electricity generation is projected to increase by more than 70 per cent by 2032, making it one of the world’s largest electricity producers. Renewable energy sources are expected to account for 16.9 per cent of the country’s total electricity generation by 2032. 

The stock is currently trading in a range of ₹15 to ₹21, suggesting a period of consolidation. Although its PE ratio is low compared to the three-year median and industry average, the company demonstrates positive signs in valuation, sales growth and margin growth. However, it also has weaknesses such as low promoter holding and pledged promoter shares. Given these factors, we categorise the stock as high-risk and recommend setting a strict stop loss at ₹15. Our recommendation is HOLD. 

Hindustan Aeronautics Ltd. (HAL) is a significant player in India’s defence sector, specialising in aircraft and helicopter manufacturing and maintenance. The company plays a crucial role in India’s defence programme, being the only Indian company with expertise in aircraft manufacturing. Despite its dependence on the Ministry of Defence (MoD) for contracts, HAL has been making strides in research and development, investing 6-7 per cent of its total revenue annually in this area. 

According to its quarterly results, the company’s net sales surged 12 per cent to ₹4,347.50 crore in Q1FY25 compared to Q1FY24, while the net profit soared by a remarkable 76.6 per cent to ₹1,431.11 crore. Annually, the company’s net sales increased by 12.8 per cent to ₹30,381.1 crore in FY24 compared to FY23, accompanied by a 30.4 per cent rise in net profit to ₹7,594.5 crore. Over the past five years, the company has demonstrated consistent profitability, achieving 26.5 per cent CAGR in profit growth. Its strong financial health is further evidenced by a healthy return on equity (ROE) track record of 28.4 per cent over the last three years and a consistent dividend payout of 29.6 per cent. 

Moreover, the company’s sales growth over the past five years has been relatively modest at 8.71 per cent. Looking at its fundamentals, it looks stable and can be invested in for the long term. The company has a robust order book of ₹94, 000 crore and is expected to reach around ₹1,20,000 crore. The company has signed a MoU with GE for transfer of technology for the GE 414 engine, aiming for 80 per cent indigenisation while working on integrating indigenous systems like the Uttam radar on to the LCA Mark 1A to increase Indigenous content. Looking at its technical expertise and performance on a short-term basis, its shares are expected to be range-bound.

Hence, we recommend HOLD for long-term investors. 

(Closing price as of September 30, 2024)