The shares of Likhitha Infrastructure Limited gained as much as 2 percent till the afternoon on Tuesday and were trading at Rs 237 levels. The scrip gained after the company reported that it has received orders worth Rs 120 crore from various Oil and Gas Distribution Companies during the quarter from October 2022 to December 2022.
Likhitha Infrastructure Limited is engaged in the business of Pipeline Laying providing comprehensive erection, testing, and commissioning of Oil & Gas Pipelines, City Gas Distribution Projects, and Operation and Maintenance (O & M) Services.
The shares of the company have zoomed from Rs 95.85 levels in January 2021 up to the current levels logging a multibagger return of 148 percent in two years. Ace investor Ashish Kacholia has the stock in his portfolio. In December he bought 3.97 lakh shares of the company at a price of ₹386 apiece through a bulk deal.
Likhitha Infrastructure is the first execution company from India to execute the first ever Trans-National Hydrocarbon (Multi-product) Pipeline Project between India and Nepal. Some of their clientele include Bharat Petroleum Corporation Limited, GAIL India Limited, Indraprastha Gas Limited, and Indian Oil Corporation Limited.
In Q2FY23, the company reported a total revenue of Rs 81.31 Crore which was an increase of 38 percent from Rs 58.81 Crore in the same period a year earlier. Their net profit jumped 39 percent from Rs 10.39 up to Rs 14.41 Crore in the latest quarter.
The company has a market capitalization of Rs 941 Crore and a dividend yield of 0.52%. The promoters hold a 74.11 percent stake and haven’t pledged any shares.
Written by Anoushka Roy
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