Listed below are some of the stocks in focus that have received new work orders in the day’s trade for a consideration of up to Rs. 321 Crores that will improve their operations and profitability.
Rites
About the Company
Rites Limited is a Navratna central public sector enterprise under the Ministry of Railways, it is a multidisciplinary engineering and consultancy organization, that provides a comprehensive range of services from concept to commissioning in all facets of infrastructure, transport, and related technologies.
Price Action
With a market capitalization of Rs. 16,429 Crores, the shares of Rites Limited were trading at Rs. 683.70 per equity share, down 1.19 percent from its previous day’s close price of Rs. 691.95.
What Happened
Rites Limited has received a new work order from the Directorate of Medical Education & Research, Mumbai, for providing Project Management Consultancy (PMC) on a turnkey basis for constructing a New Government Medical College of 100 Student Capacity & 430 Bedded Hospitals at Amravati, Maharashtra for a consideration of Rs. 321.30 Crores.
As of Q4FY24 Rites Limited has a strong order book of Rs. 5,690 Crores, its breakdown consists of Consultancy services for Rs. 2600 Crores (45.69%), Turnkey Projects for Rs. 2,505 Crores (44.02%), Exports Rs. 295 Crores (5.18%), Lease services Rs. 170 Crores (2.98%) and others Rs. 120 Crores (2.10%).
Financials and Ratios
Its revenue from operations declined by 6.67 percent from Rs. 2628 Crores in FY23 to Rs. 2453 Crores in FY24, accompanied by profits of Rs. 571 Crores to Rs. 495 Crores.
In terms of Return ratios, it has reported a return on equity(ROE) of 17.5 percent, and a return on capital employed (ROCE) of 24.8 percent. It is a debt-free company with a debt-to-equity ratio of 0.
Also read
Dee Development Engineers
About the Company
Dee Development Engineers Limited is engaged in providing specialized process piping solutions for industries like oil and gas, power (including nuclear), chemicals, and other process industries through engineering, procurement, and manufacturing.
Price Action
With a market capitalization of Rs. 2,585 Crores, the shares of Dee Development Engineers Limited were trading at Rs. 374.35 per equity share, up 2 percent from its previous day’s close price of Rs. 366.95.
What Happened
Dee Development Engineers Limited has secured a new export order from John Zink Company LLC for a consideration of $59,24,444.48 for the supply & Fabrication of Pipe Support and it should be executed within September 2024 to October 2024.
In Addition, it has secured another work order from John Cockerill S.A., Belgium for a consideration of $49,70,000 for the Supply of CS, P11, P22, and P92 Prefabricated HRSG Piping for a project in Uzbekistan, and it should be executed within March 2025 to August 2025.
Financials and Ratios
Its revenue from operations grew by 32.45 percent from Rs. 596 Crores in FY23 to Rs. 789 Crores in FY24, accompanied by profits of Rs. 13 Crores to Rs. 26 Crores.
In terms of Return ratios, it has reported a return on equity(ROE) of 5.99 percent, and a return on capital employed (ROCE) of 8.89 percent. It has reported a debt-to-equity ratio of 1.02.
Written by: Bharath K.S
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. Dailyraven Technologies 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.
