Shares of this infrastructure company, operating in the engineering and construction sector, surged nearly 2 percent after securing a Rs.10 crore order for the supply of Galvanized Iron (GI) poles to Bharti Airtel Limited.
Price Variation
In Thursday’s trading session, Bondada Engineering Limited‘s share price hit an intraday high of Rs.614 per share, up 1.7 percent from its opening price of Rs.603.65 apiece. The share has since retreated and is currently trading at Rs.590.55 each.
What is the news
Bondada Engineering Ltd has received a domestic order from Bharti Airtel Limited for the supply of 8-meter height poles (82 kg) and 6-meter height Galvanized Iron (GI) poles (60 kg, hot-dipped galvanized) to Haryana.
The order, valued at Rs.10,20,25,000 (including GST), includes poles with plates, brackets, and cross-sections for cable General Business Power Agreement (GBPA) for GI poles. There is no specified execution timeframe for the contract.
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Order Book
As of March 31, 2024, the company’s order book stands at Rs.1,747 crore, with an additional Rs.1,260 crore worth of projects in the pipeline. These figures reflect a robust project portfolio and a healthy outlook for future business opportunities in the infrastructure and construction sector.
Recent Developments
The company has completed its first Independent Power Producer (IPP) project, with a capacity of 2.80 MW and a 25-year Power Purchase Agreement (PPA) with BHEL. Revenue generation from this project will commence in May 2024.
Additionally, the uPVC profile extrusion plant, branded as “TruVu,” is nearing completion, which will complement the company’s existing uPVC doors and windows fabrication business.
Moreover, the company is also setting up an aluminum doors and windows fabrication facility under the brand name “Alurise.”
Financial Performance
Bondada Engineering Ltd reports its financial statements on a half-yearly basis. In H2FY24, the company’s revenue from operations surged by 99 percent year-on-year, reaching Rs.505 crore, compared to Rs.254 crore in H2FY23. Additionally, revenue from a specific segment grew by 139 percent, rising to Rs.31 crore in H2FY24 from Rs.13 crore in H2FY23.
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Company Overview
Bondada Engineering Limited specializes in providing engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services, primarily for companies in the telecom and solar energy sectors.
Written by – Siddesh S Raskar
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