This Microcap stock which specializes in the business of civil and electrical contractor work hit a 5 percent upper circuit after the company received an order from SJVN for the implementation of a 5705 kWp grid-connected rooftop.
Price Action
With a market capitalization of Rs. 707.98 Crores, the shares of Teerth Gopicon Limited were up by 5 percent in the day’s trade touching a day’s high of Rs. 609.50 per share. The stock reiterated from the day’s high of Rs. 609.50 per share which is 1.64 percent higher than the previous closing price of Rs. 580.50. The stock has delivered a return of 372 percent which has outperformed the Nifty Index on the YTD basis.
What Happened
The company has received a letter of award from SJVN for a successful bid for a cumulative capacity of 5830 kW grid-connected rooftop solar power projects (without battery storage) spread over in the states of NCT of Delhi, Uttar Pradesh, Madhya Pradesh, Gujarat, Haryana, Rajasthan, Maharashtra under RESCO mode through Tariff based Competitive bidding under PM Surya Ghar’s Muft Bijli Yojna. The company won the contract for the Implementation of a tentative 5705 kWp capacity grid-connected Roof Top Plant on Government Buildings in the state of NCT of Delhi, Uttar Pradesh, Madhya Pradesh, Haryana, Gujarat & Maharashtra under RESCO or PPA. The time period for execution is 6 months.
About the Company
Teerth Gopicon Limited was established in 2019. It is an engineering construction and development company based in Madhya Pradesh, India. They specialize in road construction, water distribution projects, and sewerage systems. They operate as a registered civil contractor for various government and private sector projects which include residential towers and infrastructure improvements.
Their business model focuses on securing government contracts while ensuring steady revenue streams, and addressing critical infrastructure needs in particularly in water management. Teerth Gopicon aims to leverage its expertise to improve operational efficiency and contribute to regional development.
Financials & Ratios
Its Revenue from operations grew by 83 percent year on year from Rs. 37 Crores in H1FY24 to Rs. 68 Crores in H1FY25, accompanied by a profit of Rs. 3 Crores to a profit of Rs. 10 Crores.
In terms of Return ratios, the company has a return on capital employed (ROCE) of 75.31 percent and the return on equity (RoE) stood at 84.13 percent. The net profit margin stood at 11.02 percent and the debt-to-equity ratio stood at 0.64 as of FY24.
Shareholding Pattern
As of September 2024, the shareholding pattern with the promoter’s stake holding a share of 64.34 percent in Teerth Gopicon, Foreign Institutional Investors (FII) holding around 0.23 percent, and public holdings standing at 35.43 percent.
Written by Santhosh S
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