The shares of the leading Infrastructure company touched a 5 percent upper circuit after the company bagged Projects worth Rs. 14.7 crores from NHAI.
In Thursday’s early session, Artefact Projects Ltd shares hit a 5 percent upper circuit of Rs 52.50 a share on the Bombay Stock Exchange. The company has a market valuation of Rs 38 crore.
According to the company’s exchange filing, the Company received three projects for Rs 14.7 crores from the National Highway Authority of India.For the Construction of a four-lane access-controlled highway from Samarlakota to Achampet Junction, construction and maintenance of four lanes of the Bhavnagar-Talaja section of NH-51, and Operation and Maintenance of NH26 in the states of UP and MP under the North-South corridor (NHDP Phase-II).
Year on year, the Company’s revenue has remained constant at Rs 4 crores in Q1FY23 and Q1FY24. In a similar time frame, net profit over the same period remained at Rs 1 crore.
The Company’s profitability ratios have improved with a return on equity of 9.60 percent and a return on capital employed at 10.18 percent. In addition, the company’s net profit margin has increased from 17.54 percent to 29.41 percent.
According to the latest company’s shareholding pattern, the promoters own 39.09 percent of the company, while retail investors hold 59.88 percent.
Artefact Projects Ltd is engaged in the project consultancy business, Such as project management services for highways, airports & urban development projects.
Since penny stocks are illiquid in nature even a small number of orders might cause a circuit limit. Individual investors should do extensive research before buying any penny stocks as those stocks lack consistency in performance and hence create a high risk to retail investors.
Written by Omkar Chitnis
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