This small cap stock rose almost 3% after the company’s joint venture VPRPL-B&G JV received an order worth Rs. 73 crore from Office of Municipal Board in Rajasthan. The company is the leading partner in the said joint venture.
Share price of Vishnu Prakash opened at Rs. 171.55 per share and gained up to 3% during the trading session to reach its intra- day high of Rs. 174.45 per piece. Since the listing of the stock on 5 Sep, 2023, the stock has given a return of 16.74%
On 21 Sep 2023, the company’s joint venture named as VPRPL-B&G JV, received a letter of award worth Rs. 73.07 crore from the office of Municipal Board, Piparcity in Rajasthan to provide, lay, joint, test and be in charge of commissioning of sewerage system and all ancillary works along with design, construction, supply, installation, testing and commissioning of Sewage Pumping Station/MPS on SBR Process.
As per its recent financials on a YoY basis, the company recorded a revenue of Rs. 1,168.4 crore in FY23, up by 48.73% from Rs. 785.61 crore in FY22. Its net profit of 90.64 crore in FY23 which increased 102.1% from Rs. 44.85 crore in FY22. The company has a debt to equity ratio of 0.80 and maintains a good average ROE for the last three years of 29.83%
Vishnu Prakash R Pugalia is involved in the construction business and providing engineering services for infrastructure projects for central and state governments across the country. The company has experience in design and also offers its services in Railway projects, road projects, irrigation networks and water supply projects to autonomous and private bodies.
Written by Bhumika Khandelwal
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