Shares of this microcap infrastructure company gained 8 percent today after the company received a contract order worth Rs. 5.45 crores from National Highway Authority of India.
At 9:25, 23th October shares of Artefact Projects Ltd were trading at Rs. 64.98 per share, up by 8.6 percent from previous closing price of Rs. 59.83 per share.
Such bullish stock price movement were observed after the company announced through a regulatory filing on Bombay stock exchange (BSE) that the company bagged a project worth 5.45 crores from National Highway Authority of India (NHAI) of operation and maintenance of 75 km of NH-30 highway(Lucknow- Sitapur section) in the state of Uttar pradesh to build, operate and transfer basis.
Looking at the financials of the company, revenue decreased by 5.14 percent to Rs. 4.23 crores in Q1FY24 from Rs. 4.47 crores in Q1FY23, in the same time period net profit increased by 15 percent to Rs. 1.28 crores from Rs. 1.11 crores.
Talking about the profitability ratios, the company reported return on equity (ROE) of 10.1 percent and return on capital employed (ROCE) of 12.36 percent in the last financial year.
Artefact Projects Ltd is an Infrastructure Services Consultancy Organization which provides Engineering, Architectural and Project Management services for Infrastructure Projects viz. Highways, Urban Infrastructure, Airports, Mining Services, and Railways.
Written by: Vinit Israni
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