SYNOPSIS:
Shashijit Infraprojects reported that Toyo Ink India terminated an Rs. 8.34-crore construction contract due to timeline delays. The company expects no material financial impact, though the client may invoke the advance bank guarantee.
During Wednesday’s trading session, shares of a company involved in the construction of residential, industrial, commercial and institutional buildings crashed nearly 9 percent on BSE, after the company received a Termination Notice for a construction work.
With a market cap of Rs. 28.7 crores, shares of Shashijit Infraprojects Limited closed in the red at Rs. 3.95 on BSE, down by around 2.5 percent, as against its previous closing price of Rs. 4.05. The stock has delivered positive returns of more than 33 percent in the last one year, but has fallen by around 22 percent in a month.
What’s the News:
As per the latest disclosures to the BSE, Shashijit Infraprojects Limited has reported receiving a termination notice from Toyo Ink India Pvt. Ltd. pertaining to a construction contract valued at Rs. 8.34 crore. The client has invoked termination, citing delays in meeting the stipulated project timelines.
The company stated that the termination is unlikely to have any material impact on its overall financial performance or business operations. However, it noted that the client retains the right to invoke the advance bank guarantee furnished for the project.
Financials & More:
Shashijit Infraprojects reported a significant growth in revenue from operations, experiencing a year-on-year increase of around 25 percent, from Rs. 4.8 crores in Q2 FY25 to Rs. 6 crores in Q2 FY26.
Likewise, the company’s net loss reduced during the same period, increasing from Rs. 0.52 crores to Rs. 0.15 crores, reflecting an improvement in net losses by around 71 percent YoY. Shashijit Infraprojects Limited is engaged in the business of constructing residential, industrial, commercial and Institutional buildings.
The company’s core activities include: construction and development of industrial infrastructure facilities, driveways, public utilities, powerhouse buildings, and factory complexes, turnkey project execution and EPC (Engineering, Procurement & Construction) services, Project Management Consultancy (PMC) for diverse infrastructure and construction projects, leasing and hiring of construction equipment and machinery, development of educational infrastructure, execution and supervision of all types of industrial, residential, commercial, and public utility projects.
Written by Shivani Singh
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