The shares of engineering, procurement, and construction (EPC) services providers hit 5 percent lower circuit despite the company received a work order to supply the equipment for a solar power plant worth Rs 4.93 crore.
With a market capitalization of Rs 1,888.02 crore, the shares of Bondada Engineering Ltd were trading at Rs 874.00 per share, decreasing around 5 percent as compared to the previous closing of Rs 920.00 apiece.
According to the company filing, Bondada Engineering Ltd has received a work order from Sundrops Energia Pvt Ltd to supply the equipment for a solar power plant worth Rs 4.93 crore. The period to complete this project is on or before May 5, 2024.
Looking into the company’s performance, Bondada Engineering Ltd’s revenue increased by 150 percent from Rs 117 Crore in Q2FY23 to Rs 296 Crore in Q2FY24. During the same period, net profit increased by 275 percent from Rs 4 crore to Rs 15 Crore.
As of Dec 2023, Bondada Engineering Ltd. completed the 20-megawatt solar project HOTO in collaboration with KP Group. In addition, the business obtained a Rs 25 crore order from BHEL for the building of an IPP-type solar plant and a Rs 381 crore order from BSNL to extend the current contract for a 4G saturation project.
Furthermore, the installed capacity of the firm’s Tower Manufacturing Plant was extended from 12000 MTPA to 15000 MTPA when the company entered the LED lighting market and began collecting orders through its wholly-owned subsidiary.
The stock returned 488.16 percent in six months. If an investor invests Rs 1 lakh in the firm, it will be worth Rs 5.88 lakh per year.
Bondada Engineering Limited offers engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M) services to firms in the telecom and solar energy industries.
Written by:- Abhishek Singh
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