This infrastructure and construction stock under Rs 40 rose up to 3.5 percent to Rs 38.95 a share on Wednesday after the company received two work orders from the Public Work Department and Border Roads Organisation.
At 12:40 p.m. on Wednesday, Niraj Cement Structurals Ltd shares were trading at Rs 38.30 a share on the National Stock Exchange, up 1.86 percent from the previous close price. The company has a market capitalization of Rs 153 crore.
Niraj Cement Structurals Limited has received four work orders from the Public Work Department (PWD) Maharashtra worth Rs. 74.43 Crores such as,
Construction of a submersible bridge on Rui Masola Road in Yavatmal, followed by the Construction of a Major Bridge on Manesar-Khamari Road at Mohadi, Construction of a lane cement concrete road in Talasari – Sutrakar and the Construction of a Railway Over Bridge in lieu of L.C. 46A on Virar Surat Railway Line.
In addition, The company received another order worth Rs 7.38 crore from the Border Roads Organisation(BRO) in Uttarakhand for the Design and construction of the Balance Work of a 104.50-meter span PMT Bridge with Steel superstructure over the Subaigadhera River at km 20.05 on Joshimath-Malari Road.
The company’s operational revenue has increased by 70 percent year on year, from Rs 356 crore in FY 21-22 to Rs 606 crore in FY 22-23. In the same time frame, net profit has increased by 100 percent from Rs 2 crore to Rs 4 crore.
As per the latest shareholding pattern, promoters hold a 24.26 percent stake in the company, while retail investors hold 75.74 percent.
Niraj Cement Structurals Ltd is in the business of infrastructure projects that provide end-to-end solutions in areas such as transportation, urban infrastructure, BRTS projects, industrial infrastructure, and irrigation.
Written by Omkar Chitnis
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