On Friday, the shares of the oil and gas utility service provider surged to ₹136 per share, reaching a 20% upper circuit, following the company’s receipt of a ₹400 crore work order for an EPC contract.
At 12:50 p.m., Pratham EPC Projects Ltd shares hit a 20 percent upper circuit to ₹136 per share on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹242 crore.
Pratham EPC Projects Limited has been awarded a work order worth ₹ 400 crore by Sun Petro Chemicals Private Limited, as stated in the company’s exchange filing. The contract entails the construction of onshore/offshore crude oil pipelines in the Gulf of Khambhat and other fields in Gujarat, with a project duration of 36 months.
In the fiscal year 2021-2022, Pratham EPC Projects experienced a notable increase in annual profits, marking a 58% surge in revenue to ₹7.65 crore from ₹4.42 crore in the previous fiscal year 2020-2021. Meanwhile, the company’s revenue remained consistent at approximately ₹50.4 crore for both fiscal years.
Pratham EPC Projects Limited provides end-to-end services to oil and gas utilities in India.It also offers Operations & Maintenance services to the City Gas Distribution (“CGD”) Companies It provides end-to-end services to Oil & Gas distribution companies in India.
The emerging company Pratham EPC Projects, focused on gas pipeline infrastructure services, is making strides with its nationwide projects. Since its listing on March 18, 2024, its shares have surged by 22 percent.
Pratham EPC Projects Limited recently debuted on the stock exchange with a fresh issue of 4,800,000 shares, totaling ₹36.00 crore. The company intends to utilize the net proceeds for acquiring new machinery and fulfilling working capital requirements.
Based on the most recent shareholding pattern, the company’s majority stake of 72.97 percent is held by its promoters, with Foreign Institutional Investors holding 8.11 percent, and retail investors owning 18.77 percent of the company.
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.
