The shares of this microcap company jumped around 2 percent in Tuesday’s trading session after receiving an order worth Rs. 273 crores from Maharashtra State Infrastructure Development Corporation.
Price Movement:
With a market capitalization of Rs. 729 crores, the shares of Hazoor Multi Projects Ltd started Tuesday’s trading session on a higher note at Rs. 402.50, gaining around 2 percent compared to its previous close of Rs. 383.35 and are currently trading at Rs. 389 apiece.
What Happened:
Such a positive movement in the share price was observed after the company in an exchange filing announced that it had emerged as the Lowest Bidder for the Project of Maharashtra State Infrastructure Development Corporation (MSIDC). The contract is valued at Rs 273.74 crores and will be executed domestically for 2.5 years.
The company received the project for the widening and improvement of Paldhi Amalner Dondaicha Nandurbar Dhanora to Gujarat State Border Road.
Financials:
Looking at the company’s financial statements, the revenue declined by 85 percent from Rs. 463.93 crores during the March quarter to Rs. 70.26 crores in the June quarter. On the other hand, the net profits decreased by 82 percent from Rs. 53.94 crores to Rs. 9.46 crores during the same period.
Important Financial Ratios:
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 26.95 percent and a return on capital employed (RoCE) of 23.08 percent for the period spanning FY23-24. Furthermore, the net profit margin during FY23-24 was 11.71 percent.
Shareholding Pattern:
According to the latest shareholding pattern, Retail Investors hold the majority of the shares at 59.75 percent, while Promoters own 21.08 percent and Foreign Institutional Investors (FIIs) hold 19.18 percent.
Company Profile:
Incorporated in 1992, Hazoor Multi Projects Ltd is in the business of infrastructure development as an EPC Contracting company.
It works as a sub-contractor in executing various national highway road projects awarded by government authorities such as Maharashtra State Road Development Corporation Ltd. and the National Highways Authority of India.
Written By Vaibhav Patil
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