On Monday, the micro-cap stock hit its upper circuit of 5 percent of Rs 184.40 from its previous close of Rs 175.65, after the company received an order from Modern Coach Factory (MCF), Indian Railways.
According to the filling of Oriental Rail Infrastructure Ltd, the company has received an order worth 12.14 crore from Modern Coach Factory, Indian Railways for Manufacturing and Supplying 126 sets of Seat and Berths for LHB AC 3 Tier Economy coaches. The period of order execution is May 31, 2024.
Furthermore, the order’s terms and conditions stated that 95 percent of the payment is to be received against an Inspection Certificate issued by the nominated inspection agency as specified in the contract and proof of dispatch and delivery of the material, with the remaining 5 percent due after receipt, inspection, and acceptance of the goods.
Looking at the Oriental Rail Infrastructure Ltd financials, the net revenue increased by 96 percent year over year, from Rs 58.29 crore in Q2FY23 to Rs 114.76 crore in Q2FY24. Their revenue rose by 23 percent sequentially from Rs 92.81 crore in Q1FY24 to the current levels.
In addition, the company’s net profit rose by 39 percent year over year, from Rs 5.49 crores in Q2FY23 to Rs 7.68 crores in Q2FY24. Their profit climbed from Rs 5.43 crore in Q1FY24 to the current levels on a sequential basis, a 41 percent increase.
Oriental Rail Infrastructure Ltd is a micro-cap company with a market capitalization of Rs 993 crores. The promoter owns 58 percent of the company, while the general public owns 42 percent.
The share price of the company rose 322 percent in the last six months and 141 percent in the year to date. For instance, if an investor invested Rs 1 Lakh six months ago the current value of the investment will be 4.22 lakh.
Oriental Rail Infrastructure Ltd is a company that deals in timber wood and all of its products as well as the production, purchasing, and selling of all varieties of Recron, Seat & Berth, and Compreg Boards.
Written by Sriram KV
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