The shares of the railway component manufacturer gained up to 5 percent after the company received a work order worth Rs 16.04 crore for railway wagon components.
With a market capitalization of Rs 647.21 crore, the shares of Cosmic CRF Ltd were trading at Rs 987.65 apiece, decreasing around 0.60 percent as compared to the previous closing price of Rs 940.65 per share.
According to the company filing, Cosmic CRF Ltd received work orders worth Rs 16.04 crore from three domestic clients: Jindal Rail Infrastructure Limited for Rs 1.53 crore, Eastern Railway for Rs 1.41 crore, and Hindusthan Railway Wagon Industries Limited for Rs 13.09 crore, all for the supply of Cold Rolled Formed Sections for BOXNHL/BCFCM/BVCM Wagons. The order is scheduled to be finished within four months.
Looking into Cosmic financials, the company’s revenue increased by 846 percent, from Rs 13 crore in Q2FY23 to Rs 123 crore in Q2FY24. During the same period, net profit grew by 600 percent, from Rs 1 crore to Rs 7 crore.
The stock has given multi-bagger returns of 224.99 percent in the previous six months and 291.79 percent in a year. A shareholder’s Rs. 1 lakh investment in the firm is worth Rs. 2.91 lakh in a year.
In the December quarter, the business received a Rs 25.48 crore (including GST) order from Sail-Rites Bengal Industry to deliver Cold Rolled Formed Sections for BOXNHL Wagon.
As of FY 22-23, the company’s order book stands at Rs 400.74 crore, and Cosmic successfully completed 25 orders for the supply of cold rolled stainless sections.
The company’s profitability measures show a rise in return on equity (RoE) from (3.07) percent in FY 21-22 to 56.27 percent in FY 22-23, while, during the same period return on capital employed (RoCE) grew from (1.02) percent to 26.08 percent.
Cosmic CRF Limited supplies cold rolled stainless sections to various wagon manufacturers, including Titagarh Wagons Limited, Hindusthan Engineering & Industries Limited, Melbrow Engineering Works Private Limited, Jindal Rail Infrastructure Limited, and Allied Construction Engineers & Fabricators.
Written by:- Abhishek Singh
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