The shares of one of the leading infrastructure services consultancy firm gained around 3 percent to ₹95 per share on Thursday’s early trade after the company received a work order from the National Highway Authority of India.
Artefact Projects Ltd. belongs to the micro-cap category of stock, with a market capitalization of ₹67.2 crore. At 12:05 p.m, the company shares were trading at ₹93 per share, up 0.77 percent from the previous close price on the stock exchange.
According to the company’s exchange filing, Artefact received a work order from the National Highway Authority of India (NHAI) for a value of ₹5.50 crores for consultancy services for the Authority Engineer for supervision of rehabilitation & upgrading of existing two lanes to four-lane standards from Duburi to Chandikhole section of NH-200 including the major bridge over the Brahmani river, and rehabilitation and upgrading of NH-149 under EPC Mode in the State of Odisha.
Artefact Projects Ltd revenues have increased by 52 percent year on year, from ₹4.17 crore in Q3FY23 to ₹6.38 crore in Q3FY24, while net profit has increased by 60 percent in the same period, from ₹1.14 crore to ₹1.82 crore
Artefact Projects Ltd. shares have increased by 82 percent in the last six months, with a multibagger return of 117 percent in a year. For example, a shareholder investment of ₹ 1 lakh in the company, would be worth ₹ 2.17 lakhs in a year.
Artefact Projects Ltd. is engaged in the project consultancy business in India, such as engineering, architectural, and project management services for infrastructure projects, viz. Highways, urban infrastructure, airports, mining services, and railways.
In the fiscal year of FY22-23, the company experienced a simultaneous reduction in manpower costs and administrative expenditures due to the completion of projects. This led to an increase in EBITDA and PBT levels. Profit After Tax (PAT) saw substantial growth, rising from Rs. 4.13 crore to Rs. 5.34 crore.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
