During Friday’s trading session, the shares of a railway components manufacturer hit a 5 percent upper circuit at Rs. 1,809.6 on BSE, after the company bagged an order worth Rs. 127.44 crores from an infrastructure industry.
With a market capitalisation of Rs. 1,467.4 crores, at 02:07 p.m., the shares of Cosmic CRF Limited were trading in the green at Rs. 1,790, up by nearly 3.86 percent, as against its previous closing price of Rs. 1,723.45.
What’s the News:
As per the latest regulatory filings, N. S. Engineering Projects Private Limited, a subsidiary of Cosmic CRF Limited, has secured an order valued at Rs. 127.44 crores from the infrastructure industry.
The order is for the supply of 18,000 MT cold-formed steel sheet piles (Z Type & U Type), with an execution period of 12 months.
Previous News:
Earlier on 14th September, Cosmic CRF received an order worth Rs. 10.21 crores from a Railway Wagon Manufacturing Company for 200 sets of CRF Sections-BOXNHL, Design-D (UMBS) Wagons, to be executed within 8 months.
Financials:
The company reported a significant growth in its revenue from operations, showing a year-on-year rise of around 109 percent, rising from Rs. 121 crores in FY23 to Rs. 253 crores in FY24, and expects to double the growth year on year.
Similarly, its net profit increased from Rs. 6 crores to Rs. 13 crores during the same period, reflecting a growth of nearly 116.6 percent.
In Q4 FY24, the management reported that the order book for Cosmic CRF and its subsidiary, N.S. Engineering Projects Pvt Ltd, has reached an all-time high of Rs. 550 crores.
According to management estimates, the total installed capacity at N.S. Engineering Projects Pvt. Ltd. stands at 35,000 tons per annum, while Cosmic CRF has an installed capacity of 36,000 tons per annum.
The management plans to increase capacity to 70,000 tons per annum at N.S. Engineering Projects by March 2025.
The management reiterates that, the total installed capacity at Cosmic CRF has been achieved as planned, with expectations for sales volume to reach higher levels by the end of FY24-25, driven by orders worth around Rs. 119 crores in the pipeline.
Additionally, management is engaged in discussions with a major Russian railway giant regarding a technology partnership to enhance its ambitions in the wagon industry.
Stock Performance
The stock has delivered multibagger returns of nearly 666.5 percent of returns in one year, and around 99 percent of positive returns in the last six months. So far in 2024, the shares of Cosmic CRF have given multibagger returns of about 191 percent.
About the Company:
Incorporated in 2021, Cosmic CRF Limited is primarily engaged in the business of manufacturing Cold Rolled Form (CRF), Engineering Solutions, Sheet, Piles and Railway Components to renowned Railway Wagon manufacturing companies including Indian Railways.
Cosmic CRF, one of the largest manufacturers of cold rolled forming in the world, manufactures engineering items for sectors like electrical transmission, defence, and real estate.
Written by Shivani Singh
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