Shares of this microcap company locked a 5 percent upper circuit in Tuesday’s trading session after receiving an order worth Rs. 1.72 crores. On a YTD basis, the shares have delivered a multi-bagger return of 120 percent to its shareholders.
Price Movement:
With a market capitalization of Rs. 39.2 crores, the shares of Abhishek Integrations Ltd started Tuesday’s trading session on a higher note at Rs. 65.10, clocking 5 percent upper circuit compared to its previous close of Rs. 62 apiece.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received a work contract for the Annual Operation and Maintenance of Electrical and Mechanical installations in the Integrated Operational Offices Building and 11 KV substation and allied works at Mumbai having total contract value of Rs. 1.762 crores.
Financials:
Looking at the company’s financial statements, the revenue zoomed by 34 percent from Rs. 10.86 crores during H1FY24 to Rs. 14.59 crores in H2FY24. In addition, the net profits magnified by 85 percent from Rs. 27 lakhs to Rs. 50 lakhs during the same timeframe.
Recent Orders:
Earlier, on 12 June 2024, the company received a work order contract worth Rs 1.45 crores for Annual Repair and Maintenance Operations (ARMO) of E&M installation at Barpani Airport, Shillong. The estimated time period in which the work order needs to be completed is within 2 years. (2024-2026).
Important Ratios:
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 7.94 percent during FY 22-23 to 8.32 percent in FY 23-24, and, the return on capital employed (RoCE) zoomed from 13.56 percent to 16.47 percent during the same timeframe.
Projects:
The company has completed projects at airports pan India viz., Mumbai, Goa, Gaya, Ahmedabad, Bhopal, Ranchi, etc. for Developing, Operation and Maintenance of HT & LT Electrical and Mechanical and its installation at Terminal Buildings of Airports, installation and maintenance of Fire Fighting solutions.
Shareholding Pattern:
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.
Company Profile:
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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