On Wednesday’s second half of trading, the share price of this penny stock hit a 10 percent upper circuit to Rs 34.83 apiece after the company received a cumulative order value of Rs 29.8 crore.
Ecoboard Industries Ltd hit a 10 percent upper circuit and the company belongs to the penny stock category with a market capitalization of Rs 62.11 crore.
According to the company’s exchange filing, Ecoboard Industries Ltd received new orders from three customers with cumulative values over Rs. 29.8 crores.
The following is the list of customers and their order values.
1) The company received an order worth Rs 9.49 crores from Sitaram Maharaj Sakhar Kharkhana Ltd for the supply erection and commissioning of a Biogas Plant with a capacity of 1000-1080 M3/Day and Distillery Spent Wash.
2) The Tamil Nadu Cooperative Milk Producers Federation Ltd awarded an order value of Rs 8.05 crores for the Design, Supply, Erection, Commissioning, Installation, and Testing of an Effluent Treatment Plant (ETP) with Civil works for 10 LLPD Capacity Dairy at Madhavaram.
3) AMJ Overseas EXIM Pvt. Ltd awarded the business work order value of Rs 12.26 crores for the Supply of ECOBOARD PANELS 8 x 4′ (60 Kg).
Looking into the company’s financials, revenues have decreased by 36 percent year on year from Rs 10.21 crore in Q2FY23 to Rs 6.49 crore in Q2FY24, as well as net profit declined from Rs 0.87 crore to a loss of Rs 1.70 crore
Ecoboard Industries Ltd shares have gained 65 percent in the last six months and 11 percent in the last month. Ecoboard Industries Limited is engaged in manufacturing and selling Eco-Friendly Particle Boards and BioSystems.
The company is engaged in two business lines such as laminated particle boards made from agro-residues mainly bagasse, and Anaerobic wastewater treatment plants for distilleries and other industries.
Ecoboard Industries Limited belongs to the Penny stocks category with a low market capitalization and a low trading volume. So retail investors must conduct extensive research before investing in penny stocks because such penny stocks are volatile, are rarely traded, and a small number of trades may result in a circuit limit.
Written by Omkar Chitnis
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