The shares of this leading EPC Contractor firm gained up to 5 percent after the company received a work order from Tata Power Solar Systems Ltd.
With a market capitalization of Rs 58.3 Crores. HEC Infra Project Ltd, On Friday, The shares were trading at Rs 57.5 a share, an increase of 4.84 percent from the previous closing price.
According to the company filing, HEC Infra Ltd received a work order from Tata Power Solar Systems Ltd aggregating to Rs. 7.15 crore for the Supply, Erection, Testing & commissioning of the total EPC (Turnkey) of the 66kV Transmission line in the Radhanpur project.
The company has extensive experience carrying out turnkey projects for air-insulated substations up to 220 KV, switchyards up to 220 KV, overhead transmission lines up to 220 KV, underground cable laying up to 66 KV, and SCADA systems.
Looking into the company’s performance revenue increased by 73 percent from Rs 8.83 Crore in Q2FY23 to Rs 15.27 Crore in Q2FY24. During the same period, net profit increased by 178 percent from Rs 0.23 crore to Rs 0.64 crore.
Gujarat’s engineering sector reported US$ 25 billion in exports, accounting for about 36% of all engineering exports from India. The Department for Promotion of Industry and Internal Trade (DPIIT) released data showing that the amount of foreign direct investment (FDI) received by various mechanical and engineering industries between April 2000 and June 2022 was US$ 4.14 billion.
Now that the industry is 100% FDI, it is delicensed. During FY23, total budgetary support for investments in the sector stood at approximately Rs. 1.4 lakh crore (US$ 16.8 billion), having increased rapidly over the previous four years.
Throughout the year, Gujarat Energy Transmission Corporation Limited, Vadodara, Haryana Vidyut Prasaran Nigam Limited, and Ventana Specialty Pvt Ltd have all provided the company with transmission work, including layering, erection, testing, and commissioning.
Several governmental and private organizations use SITC services from EPC contractor HEC Infra Project Ltd. The Gujarati government’s Roads and Building Department has HEC listed as a registered “Class A” EPC contractor.
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Written by:- Abhishek Singh
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