The shares of this micro-cap stock surged 6.5 percent to Rs 187 per share after the company received an order from Bharti Airtel for network maintenance.
At 2:40 p.m., Steelman Telecom Ltd shares were trading at Rs 180.60 per share, up 2.94 percent from the previous close price on the exchange. The company has a market capitalization of Rs 176 crore.
According to the company’s exchange filing, Steelman Telecom Ltd received work orders worth Rs.29 crores 70 lakhs from Bharti Airtel Services Limited for Network Maintenance of Bharti Airtel.
The company’s revenue has increased 31 percent yearly, from Rs 100 crore in Q2FY23 to Rs 131 crore in Q2FY24. During the same timeframe, Net profit has increased by 66 percent from Rs 3 crore to Rs 5 crore.
Steelman Telecom Ltd shares have gained 4 percent in the last month and 35 percent in six months. Some of the company’s notable clients include Paytm, BSNL, VI, Indus Tower, and Samsung.
In FY 22-23, the company partnered with Leading CPO’s and OEMs in the EV Charging Space. In addition, the company registered its first overseas subsidiary Company with the name Steelman Installation Services PLC.
Steelman Telecom Ltd deals in the installation, Commissioning, and integration of Telecom equipment. It provides services for Network Survey Planning and installation.
In the recent year, the company’s net profit margin stands at 4.23 percent and operating margin at 6.50 percent. Further, the return on capital is employed at 19.79 percent and the return on equity stands at 13.98 percent.
As per recent shareholding, the company promoter holds a 71.98 percent stake, while foreign institutional investors hold 2.32 percent and retail investors hold a 25.71 percent stake in the company.
Written by Omkar Chitnis
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