On Friday, shares of a company that is involved in engineering and construction projects touched a 5 percent upper high after the company received a Rs 40 crore order.
In early trade on Friday, RBM Infracon Ltd shares reached an all-time high of Rs 117.35 per share, up 5 percent from the previous close price.
According to the company’s exchange filing, RBM Infracon received a contract of Rs 40.57 crores from Nayara Energy Limited for the supply of arc for 4 nos. of crude tank M&I jobs that is to be completed by July 31, 2024.
In the last month, The company’s share price increased from Rs 53 to Rs 117.35, generating multibagger returns of 121 percent. As a result, if an investor bought 1 lakh company shares a month before, their holdings are now worth 2.21 lakhs!
The company’s revenue from operations increased by 75 percent year on year to Rs 83.19 crore in FY 22-23, up from Rs 47.54 crore in FY 21-22. During the same period, the company’s net profit increased by 16 percent to Rs 2.21 crore, up from Rs 1.91 crore the previous year.
RBM Infracon’s profitability ratio for the recent fiscal year was 12.83 percent return on equity and 20.21 percent return on capital employed.
As per the latest shareholding pattern, the promoters hold 72.45 percent of the company, and retail investors hold a 27.55 percent stake.
RBM Infracon Limited is involved in the engineering, execution, testing, commissioning, operating, and maintenance of mechanical and rotary equipment for oil and gas refineries, coal/gas power plants, and other facilities.
Written by Omkar Chitnis
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