Shares of this small-cap infra stock hit the 2 percent upper circuit in Thursday’s trading session after the company successfully bagged an order for the construction of a 4-lane bypass worth Rs 267 crores.
With a market capitalization of Rs 1,000 crores, the stocks of GPT Infraprojects Limited opened their trading session on Thursday hitting the 2 percent upper circuit at Rs 172.35 and currently, the shares are locked at the same price.
Such bullish stock price behavior is observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), intimated that the company has secured an order worth Rs 267 crores for the purpose of constructing a 4-lane bypass on EPC basis in the state of West Bengal.
Adding the above order to its portfolio, the outstading order book of the company now stands at around Rs 3,144 crores and total order inflow of Rs 1,338 crores for the Fiscal Year 2024.
According to the recent presentations, the company’s management commented on the future outlook staying optimistic with ongoing momentum in revenue growth as well as healthy order books. The growth is also expected to grow with improving balance sheet, cash flow numbers, and lower debt levels.
Coming onto the recent financial quarters, the company reported opposing movements as far as revenue from operations and net profits are concerned.
The former, on one end, reduced marginally from Rs 235 crores during Q1FY23-24 to Rs 233 crores during Q2FY23-24, and the latter, on the other end, rose from Rs 12 crores to Rs 14 crores as a result of effective cost management.
As per the shareholding pattern data available for the quarter ended December 2023, the company’s Promoters hold a 75 percent stake followed by the Public (retail) investors holding a 20.74 percent stake in the company.
Incorporated in 1980, GPT Infraprojects Limited is an infrastructure company that is engaged in the business of manufacturing concrete sleepers and allied products. With a majority of operations within India, the company manufactures monoblock and pre-stressed concrete (PSC) sleepers for varied applications.
Written by Amit Madnani
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