Share price of this micro-cap stock moved up by nearly 10.8 percent on NSE to hit an intraday high at Rs. 156.2 in the morning trading session of Tuesday, after the company announced securing construction work orders worth Rs. 81.93 crore from three different clients.
With a market capitalisation of Rs. 371.44 crores, at 10:56 a.m. the shares of Chavda Infra Limited were trading in the green at Rs. 150.65, up by 6.84 percent.
According to recent regulatory filings with the NSE, Chavda Infra Limited bagged work orders worth Rs. 81.93 crores for the Construction of Commercial Buildings.
Rajshree Proinfra LLP is the first client, and the order, valued at Rs. 11.59 crore, is for construction work that includes R.C.C. work, masonry, and plaster, among other works. The duration of the “RAJSHREE REGALIA” residential project is 18 months.
The second client is Kamal Corporation with the project name “24 CARAT GOLDCOIN” for the same construction work. The project is priced at Rs. 13.09 crore, with a duration of 24 months.
Finally, Nirma Education and Research Foundation is the third client with the same construction work of an institutional project named “HOSTEL BUILDING 5,” has a 24-month duration with a value of Rs. 57.25 crore.
With the aforementioned projects, the company’s order book on hand stands for the value of Rs. 879.07 crores to date.
In terms of financials, the company’s revenue from operations fell by nearly 0.46 percent from Rs. 103.06 crore in H2 FY22-23 to Rs. 102.58 crore in H1 FY23-24, accompanied by a decrease in the net profit by 16.8 percent from Rs. 7.97 crore to Rs. 6.63 crore during the same period.
As of March 2024, FIIs hold 1.04 percent of the shares, while DIIs hold 0.44 percent of the shares in the company, aggregating to 1.48 percent of the institutional holdings.
Chavda Infra Limited, a part of the Chavda group, is an integrated civil construction company that provides a wide range of construction and associated services for residential commercial and institutional projects in Gujarat, especially in Ahmedabad and Rajkot.
The company has experience of over 18 years in the civil construction industry and is engaged in the business of residential and commercial projects on a contract basis.
Written by Shivani Singh
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