The shares of oil & gas pipeline infrastructure service providers gained up to 2 percent after the company received a work order from Bharat Petroleum Corporation Ltd worth Rs 33.32 crore.
With a market capitalization of Rs 1,043.45 crore, the shares of Likhitha Infrastructure Ltd were trading at Rs 264.50 per share, increasing around 1.42 percent as compared to the previous cloning of Rs 260.80 apiece.
As per the exchange filing, Likhitha Infrastructure Ltd has received a work order for Laying & Construction of a 3LPE Coated carbon steel underground pipeline & associated works for Erode, Sri Ganganagar, Lakhimpur-Kheri & Koriya GA from Bharat Petroleum Corporation Ltd worth Rs 33.32 crore.
Looking into Likhitha Infrastructure Ltd’s performance, revenue increased by 11 percent from Rs 91 crore in Q3 FY23 to Rs 101 crore in Q3 FY24. During the same period, net profit increased by 7 percent, from Rs 15 crore to Rs 16 crore.
As of December 31, 2023, Likhitha Infrastructure Ltd has a total order book value of Rs 1,595 crore and the company has some big players in its client portfolio which include Bharat Petroleum, Gail, Indian Oil, ONGC, Torrent Gas, HP, and many more.
Ace investor Ashish Kacholia holds 7,00,000 shares, i.e. equivalent to 1.77 percent of the company as of December quarter 2023.
The company’s pipeline infrastructure business includes projects for laying pipes in cross-country pipeline projects, as well as putting up city gas distribution networks and building accompanying facilities.
The Company has successfully installed over 1500 km and ongoing projects that involve the laying of more than 1000 kilometers of Oil and Gas pipelines.
Likhitha Infra has a widespread footprint, functioning in 19 states, two union territories, and Nepal. The Company has effectively expanded its worldwide reach into new geographical areas by forming a Joint Venture Company in the Kingdom of Saudi Arabia in 2023.
Likhitha Infrastructure Limited is an Indian oil and gas pipeline infrastructure service company. The company focuses on installing pipeline networks, constructing accompanying facilities, and providing operations and maintenance services to Indian oil and gas industries.
Written by:- Abhishek Singh
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