The shares of this microcap company jumped around 2 percent in Thursday’s trading session after receiving an order from the National Highways Authority of India. In one year, the stock has delivered more than a 40 percent return to its shareholders.
Price Movement:
With a market capitalization of Rs. 55.4 crores, the shares of Artefact Projects Ltd started Thursday’s trading session on a higher note at Rs. 79, gaining around 2 percent compared to its previous close of Rs. 76.06 and are currently trading at Rs. 76.80 apiece.
What Happened:
Such a positive movement in the share price was observed after the company in an exchange filing announced that it had been awarded a project from the National Highway Authority of India for consultancy services worth Rs. 4.09 crores.
As per the filings, the company has been appointed as the Independent Engineer for a new highway project in Telangana.
This involves overseeing the construction of a 31.466 km, 4-lane access-controlled section of the Mancherial-Warangal route, extending from Narva village to Puttapaka village. This project is part of the Nagpur-Vijayawada economic corridor under the Hybrid Annuity mode.
Also read
Financials:
Looking at the company’s financial statements, the revenue increased by 12 percent from Rs. 6.38 crores during the December quarter to Rs. 7.12 crores in the March quarter. Due to an increase in expenditure, the net profits decreased by 88 percent from Rs. 1.82 crores to Rs. 22 lakhs during the same timeframe.
Important Financial Ratios:
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 8.82 percent and a return on capital employed (RoCE) of 11.05 percent for the period spanning FY23-24. Further, the net profit margin stood at 21.65 percent during the same period.
Other Details:
Artefact Projects Ltd has completed several projects including detailed design and DPR for over 681.50 kilometres of highways and other roads, project management services for highway projects such as the Chhattisgarh Rural Roads Development project funded by ADB and consultancy assignments for urban transport infrastructure projects in Mumbai and Agra.
Shareholding Pattern:
According to the latest shareholding pattern, the Promoters maintain ownership of 39.09 percent, while Foreign Institutional Investors possess 0.69 percent of the stake. The remaining 60.22 percent of shares are held by Retail Investors.
Company Profile:
Headquartered in Nagpur, Artefact Projects was incorporated in 1987. The company is a leading infrastructure services consultancy organization that provides project management services for highways, urban infrastructure, and airports.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
