Shares of pipeline infrastructure service provider rose 7 % to Rs 291.65 rupees after receiving an order worth Rs 235.50 crore from GAIL.
Likhitha Infrastructure Ltd shares were trading at Rs 295.60 a share on the NSE at 12:45 p.m., up 16.30 Rs or 5.86 percent, with a market capitalization of Rs 1,165 crores.
As per Company’s BSE filing, Company received an order worth Rs.235.50 Crores from GAIL(India) for Pipeline laying and composite works for Phase-2, (Salem to Coimbatore Pipeline section of KKBMPL -II Project),which is expected to be completed in 15 months.
Ace investor Ashish kacholia holds 7,94,000 shares in the firm as of the June 2023-24 quarter, equivalent to 2.01 percent.
Likhitha Infrastructure Ltd is in the business of laying oil and gas pipelines as well as offering full erection, testing, and commissioning of oil and gas pipelines and City Gas Operation and Maintenance (O & M) Services.
Likhitha Infrastructure share increased from Rs 146.93 to Rs298, yielding multibagger returns of 103 percent. As a result, if an investor bought 1 lakh shares of the company in the previous year, their holdings are now worth 2.03 lakhs!
Company’s revenue climbed by 36 percent year on year, rising from Rs 257 crore in FY 21-22 to Rs 350 crore in FY 22-23. Within the same time period, net profit increased by 33 percent, from Rs 45 crore to Rs 60 crore.
As per shareholding pattern,The promoters owns 70.03 percent of the firm and retail investors own 29.72 percent,
Written by Omkar Chitnis
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