On Tuesday’s trading session, the shares of a company operating in telecom, solar energy, and infrastructure, hit a 5% upper circuit on BSE to Rs. 2,666.9, after the company received orders for a total of nearly Rs. 16.3 crores from three different entities.
At 02:22 p.m., the shares of Bondada Engineering Limited were trading in the green at Rs. 2,620, up by 3.2 percent, as against its previous closing price of Rs. 2,539.95, with a market cap of Rs. 5,761 crores.
What’s the News:
Bondada Engineering Limited informed the stock exchanges about securing orders from three different entities for a total of Rs. 16.3 crores on 23rd July.
The first order, amounting to Rs. 1.71 crore, was from Bharti Airtel Limited for the delivery of a 6-meter Height GI pole Wt 60kg (Hot Dipped Galvanised) without Base to Tamilnadu.
The second order, valued at nearly Rs. 5 crore, was awarded by Svojas Power Private Limited for the fabrication, galvanising, and supply of various types of towers and tower parts, tower extensions (complete), including hangers, D-Shackles, pack washers, etc., to Jharkhand, with an execution period of 2 months from the receipt of the work order.
The third order worth Rs. 9.6 crore was received by its subsidiary Bondada Green Engineering Private Limited (BGEPL) from GameChange Solar, based in the United States.
This order is for the supply of Solar Module Mounting Structures (MMS), with a scheduled completion timeline of 14 weeks from the issuance of the work order.
Previous Order:
On 18th July, Bondada Engineering received a work order worth Rs. 59 crore from KPI Green Energy Limited to supply BOS Items & Services for EPC Works across 2 locations in Gujrat, to be executed by 30th September 2024.
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of around 116 percent from Rs. 371 crore in FY22-23 to Rs. 801 crore in FY23-24.
Similarly, its net profit increased during the same period from Rs. 18 crore to Rs. 46.3 crore, indicating a growth of 157.2 percent YoY.
Bondada has delivered revenue from Rs. 7 crore in FY12-13 to Rs. 800 crore in FY23-24 revenue with a Compound Annual Growth Rate (CAGR) is 53 percent.
As of March 2024, the closing order book stood at Rs. 1,747 crore, while the orders in pipeline stood at Rs. 1,260 crore.
About the Company:
Incorporated in 2012, Bondada Engineering Limited engaged in the business of providing Engineering, Procurement and Construction (EPC) and Operations and Maintenance (O&M) services to customers operating in the telecom and solar energy industries.
The company provides passive telecom infrastructure services including turnkey services for cell site construction, erection, O&M of telecom towers with civil, electrical, and mechanical works; supply of poles and towers, laying and maintenance of optical fibre cables, supply of power equipment and other related services.
Written by Shivani Singh
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