Micro-cap stock that provides exploration services in the field of Mineral and unconventional energy resources, jumps marginally in the day’s trade after it received orders worth Rs. 38 Crores from Hindustan Copper Limited.
At 11:25 a.m. the shares of South West Pinnacle Exploration Limited were trading at Rs. 180.80, up 0.86 percent from its previous day’s close price of Rs. 179.25 and its market capitalization is Rs. 502 Crores.
As per the company’s filing, South West Pinnacle Exploration Limited has received a work order worth Rs. 38 Crores, from Hindustan Copper Limited for surface exploratory diamond core drilling in the state of Rajasthan.
The company’s revenue grew 5.43 percent from Rs. 117.86 Crores in FY22 to Rs. 124.26 Crores in FY23, accompanied by profits of Rs. 10.92 Crores to Rs. 8.97 Crores.
It has reported a return on equity (ROE) of 8.2 percent and a return on capital employed (ROCE) of 10.75 percent, it is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the quarter ended September 2023, the company’s Promoters hold 74.68 percent stake, the Foreign Institutional Investors (FII) hold 0.07 percent and the Domestic Institutional Investors hold 0.01 percent.
South West Pinnacle Exploration Limited is a private exploration services company operating in the field of Mineral and unconventional energy resources. It provides end-to-end drilling, exploration, and allied services to coal, ferrous, non-ferrous, base metal mining industries, unconventional energy industries, etc.
Written by: Bharath K.S
