Shares of this microcap company clocked 5 percent upper circuit in Friday’s trading session after receiving an order worth Rs. 4.43 crores. On a YTD basis, the shares have delivered around 40 percent returns to its investors.
With a market capitalization of Rs. 23.8 crores, the shares of Abhishek Integrations Ltd started Friday’s trading session on a higher note at Rs. 40.50, clocking a 5 percent upper circuit in the morning session compared to its previous close of Rs. 38.60.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it was awarded the work contract for the operation and maintenance of E and M installations at the terminal building and other ancillary buildings etc. along with the operation of Lifts, escalators and baggage handling system for 2 years having total contract value of Rs. 4.43 crores by Airport Authority of India (AAI), Coimbatore Airport.
Earlier, the company had ranked as L1 for the work contracts for operation and maintenance (2023-25) of Ground Lighting Facilities, Standby DG Sets and associated Power supply Systems at HAL Airport Bengaluru having a total contract value of Rs. 1.52 crores.
Looking at the company’s financial statement, the revenue decreased by 20 percent from Rs. 13.76 crores during H2 FY22 to Rs. 10.86 crores in H1 FY23. On the other hand, the net profits declined by 21 percent from Rs. 34 lakhs to Rs. 27 lakhs during the same period. As of 30th June 2023, the order book of Abhishek Integrations in FY23 was reported to be Rs. 2,40,509 million.
Coming onto the company’s important financial ratios, the return on equity decreased from 9.41 percent during FY21-22 to 8.24 percent in FY22-23. On a contrasting note, the return on capital employed increased from 11.55 percent to 12.02 percent during the same timeframe. Furthermore, the net profit margin declined from 3.18 percent in FY21-22 to 2.54 percent during FY22-23.
According to the latest shareholding pattern, the Promoters have 67.72 percent of the stake and the remaining 32.28 percent of shares are with the Retail Investors.
Headquartered in Gujarat, Abhishek Integrations was incorporated in 2017, the company is in the business of developing, maintaining and operating Airports and allied businesses.
Written By Vaibhav Patil
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