Microcap engineering shares hit upper circuit after receiving an order worth 11.75 crore from Andrtiz Technologies. The share has given a multibagger return to its investors, in just 6 months it has given a whopping 119 percent return.
For example, if someone had invested Rs. 1 lakh six months ago then the worth of these shares would be 1.19 lakh now.
With a market capitalization of Rs. 530 crore, the shares of Artson Engineering Ltd went to hit a 2 percent upper circuit at Rs. 146.50 in just a few minutes of the morning bell.
Such a bullish sentiment was observed after the company in an exchange filing mentioned that it had received an order from Andrtiz Technologies Ltd worth Rs. 11.75 crore to manufacture and supply bed heat exchangers. The order is to be executed in 40 weeks.
Digging into the financial statement of the company, the revenue declined from Rs. 41.89 crore during the June quarter to Rs. 30.12 crore in the September quarter. On a Contrasting note, the net profit increased from Rs. 1.03 crore to Rs. 3.3 crore during the same period.
Looking at the important financial ratio, during FY 22-23 the company had a zero return on equity(RoE) due to increasing losses YoY. In addition to this return on capital employed was recorded at -22.4 percent during the same timeframe.
According to the latest shareholding pattern, Promoters have a 75 percent stake in the company, the Public or the Retail Investor has a 24.99 percent share, and the remaining 0.01 percent shares are with DIIs.
Artson Engineering Ltd is a subsidiary of Tata Projects Ltd. Headquartered in Hyderabad, the company was established in the year 1987. The company has a diversified range of businesses in Pressure Equipment Manufacturing for Oil and Gas, Petrochemicals, Power, Metallurgy Industry, Construction of bulk liquid storage farms, Industrial Piping, Structure Fabrication, Ship Construction, Maintenance, and other Industrial Services.
Written By Vaibhav Patil
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