In Wednesday’s trading session, the shares of a company engaged in the business of power and infrastructure development surged 3.6 percent to Rs. 2,010 on BSE, after securing a work order worth Rs. 20.3 crores for Engineering, Procurement, and Construction (EPC) work.
With a market capitalisation of Rs. 1,995.6 crores, at 10:56 a.m., the shares of Advait Infratech Limited were trading in the green at Rs. 1,955, up by 0.74 percent, as against its previous closing price of Rs. 1,940.65.
What’s the News:
According to the latest regulatory filings with the BSE, Advait Infratech Limited received an order worth Rs. 20.3 crores from Dakshin Gujarat Vij Co. Ltd. (DGVCL) for EPC work of MVCC installation in Southern Gujarat.
The turnkey contract involves the supply, installation, testing and commissioning of 11 KV 55mm2 AAAC Medium Voltage Covered Conductor (MVCC) with its accessories, to be executed in 12 months.
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Previous Order:
On 9th July, Advait Greenergy Private Limited, a subsidiary of Advait Infratech Limited, secured two work orders from KP Group of Companies aggregating nearly Rs. 72.7 crores.
The first Letter of intent (LOI) included the EPCC work for a 30 MW Solar Project at Khavda, Gujarat worth Rs. 59 crores, while the other LOI was for the EPC contract for 1 MV Green Hydrogen Plant at Matar worth nearly Rs. 13.7 crores.
Further, on 18th July, the company bagged 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, to be executed in 24 months.
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of nearly 117.5 percent from Rs. 27.5 crores in Q1 FY23-24 to Rs. 59.8 crores in Q1 FY24-25.
Similarly, its net profit increased during the same period from Rs. 1.5 crore to Rs. 5.4 crore, indicating a growth of 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 370 percent in one year and around 30 percent of positive returns in the last six months. So far in 2024, the shares of Advait Infratech have given about 229 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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