In Wednesday’s trading session, the shares of a company engaged in the business of power and infrastructure development hit a 5% upper circuit at Rs. 1,979.7, after the company secured an order worth Rs. 296 crores from Solar Energy Corporation of India Limited.
With a market cap of Rs. 2,020.8 crores, the shares of Advait Infratech Limited opened at Rs. 1,875, as against its previous closing price of Rs. 1,885.45.
What’s the news:
According to the latest regulatory filings with the BSE, Advait Infratech Limited received an order worth Rs. 296 crores from Solar Energy Corporation of India Limited (SECI).
The 5-year contract is for setting up manufacturing capacities of 200 MW of Alkaline Electrolysers in India under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme.
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Previous Orders:
On 18th July, Advait Infratech received an order worth Rs. 35.07 crores for EPC work including design, engineering, supply, testing, service, and commissioning of OPGW Live Line Installation from Power Grid Corporation of India (PGCIL) for the Ladakh Region.
On 20th August, the company bagged Rs. 20.3 crore order for EPC work including supply, installation, testing and commissioning of 11 KV 55mm2 AAAC Medium Voltage Covered Conductor (MVCC) with its accessories from Dakshin Gujarat Vij Co. Ltd (DGVCL) at Southern Gujarat Region.
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of around 117.5 percent from Rs. 27.5 crores in Q1 FY24 to Rs. 59.8 crores in Q1 FY25.
Similarly, its net profit increased during the same period from Rs. 1.5 crores to Rs. 5.4 crores, indicating a rise of nearly 260 percent YoY.
Shareholding Pattern:
As per the latest shareholding pattern, the Promoters hold a 69.44 percent stake in the company, Foreign Institutional Investors (FII) hold a 0.01 percent stake, while Retail Investors hold a 30.54 percent stake in Advait Infra.
As of July 2024 shareholding data available with the BSE, the ace investor Ashish Kacholia holds a 2.67 percent stake in the company.
Stock performance:
The stock has delivered multibagger returns of nearly 353 percent in one year and around 36.8 percent of positive returns in the last six months. So far in 2024, the shares of Advait Infratech have given about 232.4 percent of multibagger returns.
About the company:
Established in 2009, Advait Infratech Limited is involved in the business of providing products and solutions for power transmission, power substation and telecommunication infrastructure fields.
The company operates with various verticals such as manufacturing, EPC of our manufactured products in the transmission and telecom sector, and BOOT (Build, Own, Operate, Transfer)-based projects.
Advait Infratech is engaged in the manufacturing and supply of power transmission products such as stringing tools, OPGW (Optical Fibre Ground Wire), OFC cables, ACS (Aluminium Clad Steel Wire), ERS (Emergency Restoration System), and OPGW joint boxes.
Written by Shivani Singh
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