This Infra stock, which deals in the business of infrastructure development related to power transmission, water treatment, waste management, and civil infrastructure, hit 5 percent after receiving an order worth ~Rs. 618 crore for Irrigation Project in Jharkhand.
Share Price Movement
In Monday’s trading session, SPML Infra‘s share price touched a day’s high of Rs. 175.65, which is 5.00 percent higher. The share price remained in the upper circuit limit, which is 5 percent higher than the previous closing price of Rs. 167.30 apiece. In the past year, the stock has given around 63 percent returns and outperformed the Nifty Index.
What Happened
The company’s stock was in focus after SPML Infra’s exchange filing revealed that they have signed an agreement with the Water Resource Department, Hazaribagh for an irrigation project under the Konar Irrigation project on a turnkey basis. This award is in partnership with Vijay Kumar Mishra Construction.
This project aims to improve irrigation infrastructure across 12,599.43 hectares of agriculture land in Bisnugarh block (Hazaribagh), Nawadih block (Bokaro), and Dumri block (Giridih) in Jharkhand.
The project involves reconstructing, repairing, and strengthening canals, building an approach channel, canal lining, solar-powered pump house, and a pressure pipe system. It includes installing a pipeline network with advanced distribution, civil works such as Boundary Walls, Approach Roads, and service roads. Further, it includes a 10-year post-construction Operation, Maintenance, and Management phase.
Management Commentary
Commenting on the order, the Chairman of SPML Infra, Subhash Sethi said “We are proud to contribute to the development of Jharkhand’s irrigation infrastructure. This project aligns with our commitment to delivering sustainable water management solutions that enhance agricultural productivity and improve farmers’ livelihoods.
By leveraging advanced technology and efficient execution, we aim to complete the project within the stipulated timeline while ensuring high standards of quality and reliability. SPML Infra continues to focus on large-scale bulk water supply projects that ensure equitable water distribution for irrigation and drinking water needs across the country.”
Financials
In its latest filing for the quarter ending December 2024, the company reported a 26.15 percent decline in revenue, reaching Rs. 186.27 crore compared to Rs. 252.24 crore in Q3FY24. During the same period, net profit increased by 771.92 percent to Rs. 9.94 crore in Q3FY25, compared to Rs. 1.14 crore in Q3FY24.
Business segment
SPML Infra recognises its operating revenue under the Engineering, Procurement and Construction (EPC) as its sole segment as of the December 2024 quarter.
Company Overview
SPML Infra Limited is a leading infrastructure development company with over 43 years of experience, specializing in water, power, environment, and infrastructure projects across India, executing over 700 projects on EPC, PPP, and BOOT models.
Written by – Santhosh S
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