The shares of the infrastructure developer hit 5 percent upper circuit of Rs 11.86 apiece after the company received a Letter of acceptance for the Construction of a Railway Bridge worth Rs 20.74 crore.
With a market capitalization of Rs 319.72 crore, the shares of Madhav Infra Projects Ltd were trading at Rs 11.86 per share, increasing around 5 percent as compared to the previous closing price of Rs 11.30 apiece.
According to the company filing, Madhav Infra Projects Ltd has received a letter of acceptance for the Construction of a Railway over a Bridge in the Katni section between Sagar Bus Stand to Sadar Bazar Road Sagar (M.P.) from the office of the executive engineer public work department, Sagar (MP) worth Rs 20.74 crore.
Furthermore, The construction of the Railway Bridge is not just a milestone for Madhav Infra Projects, but also a significant achievement for Sagar City. It is planned to simplify transportation, shorten travel times, and increase connectivity between vital regions of town.
Looking into Madhav Infra Projects Ltd’s performance, revenue decreased by 37 percent from Rs 138.99 crore in Q3 FY23 to Rs 87.78 crore in Q3 FY24. During the same period, net profit increased by 7 percent, from Rs 4.30 crore to Rs 4.62 crore.
The stock has delivered returns of 93.79 percent in the last six months and a multi-bagger return of 185.10 percent. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 2.09 lakh in a year.
Looking at the company’s profitability indicators, the return on equity (RoE) increased from 7.62 percent in FY 21-22 to 13.29 percent in FY 22-23, while the return on capital employed (RoCE) jumped from 9.34 percent to 12.24 percent.
Madhav Infra Projects Limited is an India-based firm that develops, builds, operates, and maintains infrastructure projects. The company also operated in the electricity generating business, which included solar and hydro.
Written by:- Abhishek Singh
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