Synopsis: In a voluntary disclosure under Regulation 30, Atmastco Limited has received a Rs. 3.38 crore order from Megha Engineering & Infrastructures for supply of pre-fabricated pipe rack structures for the HRRL refinery project in Rajasthan; the contract is non-material by the company’s own assessment but continues a pattern of project exposure to large domestic energy infrastructure via Tier-1 EPC contractoRs.
A Chhattisgarh-based heavy engineering company has received a pre-fabricated structure supply order worth Rs. 3.38 crore from Megha Engineering & Infrastructures, targeting the HRRL refinery project in Rajasthan, per a Regulation 30 voluntary disclosure filed with NSE on June 13, 2026.
With a market capitalization of Rs. 445.22 crore, the shares of Atmastco Limited last traded at Rs. 180 per share, up 1.58 percent from its previous closing price of Rs. 177.20 apiece. It is trading at a P/E of 17.8.
The order covers supply of pre-fabricated structures described in the filing as SSSCB to Caridor pipe rack configuration with finish paint for STG-9B of the HRRL project in Rajasthan. Megha Engineering & Infrastructures, the awarding entity, is a major domestic EPC contractor; HRRL (HPCL-Rajasthan Refinery Limited) is a large greenfield refinery project being developed in Barmer, Rajasthan.
At Rs. 3.38 crore, the contract accounts for roughly 1.15 percent of Atmastco’s FY26 consolidated revenue of Rs. 293 crore. The company disclosed it voluntarily, noting the value does not meet the threshold for materiality under SEBI’s listing regulations or its own materiality policy. No related-party nexus or promoter overlap with Megha Engineering was reported. Execution is governed by purchase order terms; no specific delivery period is stated in the filing.
FY26 was a year of working capital recovery for Atmastco after two consecutive years of cash outflows. Operating cash flow turned positive at Rs. 12 crore, reversing net outflows of Rs. 33 crore in FY25 and Rs. 20 crore in FY24. Debtor days improved to 113 from 206 in the prior year, the best reading in three yeaRs. Revenue grew marginally to Rs. 293 crore from Rs. 290 crore, while operating profit rose to Rs. 47 crore at a 16 percent OPM. Net profit held flat at Rs. 19 crore.
Borrowings rose to Rs. 104 crore in FY26 from Rs. 74 crore in FY25, a 40 percent increase. Working capital days extended to 199 from 179, indicating capital is being absorbed deeper into the cycle even as debtor collection improved. Current EPS stands at Rs. 7.70 on a face value of Rs. 10. Dilution from the warrant and preferential allotment, if fully executed, would reduce EPS at current profit levels, though the capital raise is intended to fund capacity and growth.
Business Overview
Incorporated in 1994, Atmastco Limited manufactures and supplies pre-fabricated heavy structures and precision mechanical equipment for steel, energy, railway, cement, and infrastructure sectors, and provides erection and commissioning services from its Bhilai, Chhattisgarh facility. For FY26, the company reported consolidated revenue of Rs. 293 crore and net profit of Rs. 19 crore, flat year-on-year, with ROCE at 20.4 percent and promoter holding at 66.14 percent.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
