In Monday’s early session, shares of the leading EPC player in India hit the 10 percent upper circuit after the company received a contract to manufacture Optical Fibre Ground wire.
Advait Infratech Ltd shares touched its 52-week high of Rs 444.65 on the Bombay Stock Exchange at 11:05 a.m.The company has a market capitalization of Rs 453 crores.
As per company’s exchange filing.The company received an order for Rs 35.80 crore for the supply of 2784 KMs of Optical Fibre Ground Wire (OPGW) with a time frame of 12 months from the date of Letter of Award.
Advait Infratech’s share price has risen from Rs 99.88 to current levels, giving 345 percent multibagger returns. As a result, if an investor purchased one lakh shares in the previous year, their holdings are now worth 4.45 lakhs!
Advait has received an order from THDC in Uttarakhand,for a Green Hydrogen-based micro-grid project. The project is projected to be finished by the end of 2023 and expected to generate revenue of more than INR 80 million.
The company’s profitability ratios have grown, with return on equity increasing from 17.21 percent to 19.60 percent and return on capital employed increasing from 21.97 percent to 26.68 percent.
Advait Infratech revenue climbed by 40 percent year on year, rising from Rs 72 crore in FY 21-22 to Rs 101 crore in FY 22-23. Within the same time period, net profit increased by 43 percent, from Rs 7 crore to Rs 10 crore.
As per shareholding pattern,The promoters own 73.53 percent of the firm and retail investors own 26.46 percent.
Advait Infratech Ltd provides products and solutions in the domains of power transmission, power substations, and communications infrastructure. It also engages in other sectors, including Turnkey Telecommunication Projects, Power Transmission Installation, Substation Installation, and Telecom Products.
Written by Omkar Chitnis
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