Multibagger stock hit 2 percent upper circuit in the day’s trade after it announced new joint venture with PT Tubular Services Indonesian to expand its operations and introduce new products into the market.
In the day’s trade the shares of Trishakti Industries Limited hit 2 percent upper circuit at Rs. 116.45 and its market capitalization is Rs. 34.59 Crores.
Trishakti Industries Limited intends to form a joint venture with PT Tubular Services Indonesian to set up a seamless pipe plant with estimated project value of ~Rs. 600 crore. The intend of this strategic move is to expand its operations and introduce new products into the market.
The seamless pipe plant will cater to the growing demand for high-quality pipes in industries such as oil and gas, construction, automotive, and infrastructure development.
The joint venture will bring together the technical expertise and resources of both companies to establish a state-of-the-art facility that will meet the stringent quality standards and production requirements of the industry.
It has delivered multibagger returns of 153 percent in a year and 79 percent in the last six months. A shareholders investment of Rs. 1 lakh in the company would be worth Rs. 2.53 lakh in a year.
The company’s revenue declined 27 percent from Rs. 26.5 Crores in FY22 to Rs. 19.34 Crores in FY23, accompanied by profits of Rs. 0.52 Crore to Rs. 0.51 Crore.
It has reported a return on equity (ROE) of 5.04 percent and a return on capital employed (ROCE) of 6.7 percent, it is making decent returns on its equity and capital employed.
Trishakti Electronics and Industries Limited is a infrastructure & Oil & Gas exploration service provider. Its major clients include ONGC, Oil India, Larsen and Toubro and Reliance Industries.
Written by: Bharath K.S
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