This Microcap stock rose 3.4% on Tuesday within the first hour of markets opening after bagging an order from Hinduja Renewable Energy. The company has a market cap of Rs. 392 crore and is 12% away from its 52 week high, trading at Rs. 181.60 versus Rs. 176.70 at closing on Friday.
The stock saw volumes that are 0.2x the monthly average, trading 0.8% respectively above its 20 day moving average. The company was listed roughly a month ago on August 30th 2023.
In a filing dated 30th September 2023, Bondada Engineering Ltd (“Bondada”) announced that it has received an order from Hinduja Renewables Energy Private Limited for Supply, Service, Erection, Testing Commissioning of 16.5 MW Project at Sivgangai, Tamil Nadu worth Rs. 9.54 crore inclusive of GST.
Bondada Engineering Limited provides engineering, procurement, and construction services and operations and maintenance services to customers operating in the telecom and solar energy industry in India. The company listed on 30th August 2023 and closed the listing day with 99.5% gains. It has returned 11% since listing.
The company reported robust financials for the last three years in its IPO filings. Revenue was Rs. 288 crore in FY21, Rs. 334 in FY22 and Rs. 371 crore in FY23. During the same periods, the company’s Net Profits were Rs. 9.2 crore, Rs. 10.1 crore and Rs. 18.3 crore respectively. Net margins during FY21 were 3.2%, 3% for FY22 and 4.9% in FY23. Additionally, the company’s ROE was 22.8%, ROCE at 35.6% and a debt to equity ratio of 1.07.
Written by Sandeep R
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