This S&P BSE Smallcap Stock rose 3.3% within the first hour of markets opening after reporting that it has received an order from Mumbai Metropolitan Regional Development Authority (“MMRDA”). The company has a market cap of Rs. 3,327 crore and is 2% away from its 52 week high, trading at Rs. 441.00 versus Rs. 428.55 at previous close.
The stock is seeing volumes that are over 1x the monthly average. The company’s shareholding has significant institutional holding with 15% held by DIIs and 10% held by FIIs. Key Institutional holders include Mukul Agarwal, HDFC Group & SBI Group.
In a filing dated 16th October 2023, J Kumar Infraprojects Ltd (“JKumar”) stated its Receipt of ‘Letter of Acceptance’ from Mumbai Metropolitan Region Development Authority for the project:
Design, Supply, Fabrication and Erection of pre-engineering building structural steel works and execution of internal & external architectural finishings, plumbing works including interior fitouts for 5 elevated stations Viz. Diamond Garden, Shivaji Chowk, BSNL Metro, Mankhurd & Mandale of Metro Line 2B Corridor [D.N. Nagar to Mandale] of Mumbai Metro Rail Project of MMRDA, for the contract amounting to Rs. 99,29,71,000 or Rs. 99.3 crore approx. The time frame of execution/ completion for the project is 56 weeks or 4.67 years.
Financially, the company has been delivering consistent growth over the years, barring the covid year. In FY23, the company’s revenue grew 19% YoY from Rs. 3527 crore to Rs. 4203 crore. Net profits during the same period grew 33% YoY from Rs. 206 crore to Rs. 274 crore.
JKumar Infraprojects is a construction company that works on a variety of infrastructure projects, such as civil engineering, irrigation projects, transportation engineering, and piling work. Roads, flyovers, bridges, monorails, metrorails, and skywalks are all part of its transportation engineering business.
Written by Sandeep N
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