Shares of this microcap company clocked 5 percent upper circuit in Monday’s trading session after receiving an order from Airport Authority of India. On a YTD basis, the shares have delivered around 40 percent to its shareholders.
With a market capitalization of Rs. 23.4 crores, the shares of Abhishek Integrations Ltd started Monday’s trading session on a higher note at Rs. 38.95, clocking a 5 percent upper circuit compared to its previous close of Rs. 37.10 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that they had been awarded the work contract from the Airport Authority of India (AAI), Dehradun Airport for worth Rs. 2.70 crores including GST.
The company was awarded the contract for the Annual Repair and Maintenance Operations (ARMO) of Electrical and Mechanical Installations within operational zones, encompassing GLF systems, UPS, various AC units, Water Coolers / RO systems, Fire Hydrant Systems, and Fire Alarm and Detection Systems at Dehradun Airport for the period spanning 2024-2026.
Looking at the company’s financial statement, the revenue decreased by 20 percent from Rs. 13.76 crores during H2 FY22 to Rs. 10.86 crores in H1 FY23. On the other hand, the net profits declined by 21 percent from Rs. 34 lakhs to Rs. 27 lakhs during the same period. As of 30th June 2023, the order book of Abhishek Integrations in FY23 was reported to be Rs. 2,40,509 million.
Due to increasing operating revenue and profits on a YoY basis, the profitability metrics of the company improved with the return on equity (RoE) increasing from 6.45 percent during FY 21-22 to 7.94 percent in FY 22-23, and, the return on capital employed (RoCE) zoomed from 8.12 percent to 13.56 percent during the same timeframe.
According to the latest shareholding pattern, the Promoters of the company retain a significant ownership stake, accounting for 67.72 percent of the total shares outstanding. The remaining 32.28 percent of shares are held by Retail Investors.
Headquartered in Gujarat, Abhishek Integrations was incorporated in 2017, the company engaged in developing, operating and maintaining electrical and mechanical installation at various Airports in India.
Written by Vaibhav Patil
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