Multibagger stock engaged in the business of manufacturing and supplying rubber and steel-based Industrial conveyor belts hit a 5 percent upper circuit in the day’s trade upon receiving a work order worth Rs. 63.29 from NLC India Limited.
With a market capitalization of Rs. 143 Crores, the shares of Somi Conveyor Beltings Limited hit a 5 percent upper circuit in the day’s trade at Rs. 121.35.
Somi Conveyor Beltings Limited has received a new work order worth Rs. 63.29 Crores from NLC India Limited for the supply of 30,200 quantities of Steel Cord Conveyor Belt 2000 mm.
Somi Conveyor Beltings Limited is engaged in the business of manufacturing and supplying rubber and steel-based Industrial conveyor belts. The product offerings include general-purpose, heat-resistant, oil-resistant, special conveyor belts, and many more.
Somi Conveyor Beltings Limited has delivered multi-bagger returns of 214 percent in a year. A shareholder’s investment of Rs. 1 Lakh in the company would be worth Rs. 3.14 Lakh in a year.
Its revenue from operations grew by 64 percent from Rs. 57 Crores in FY22 to Rs. 94 Crores in FY23, accompanied by increasing profits of Rs. 2 Crores to Rs. 3 Crores
It has reported a return on equity (ROE) of 5.31 percent and a return on capital employed (ROCE) of 7.92 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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