The shares of the mid-cap company gained up to 11 percent after the company received a new project from the National Highway Authority of India (NHAI) worth Rs 171 crore.
With a market capitalization of Rs 625.80 crore, the shares of SRM Contractors Ltd were trading at Rs 272.75 per share, increasing around 10 percent as compared to the previous closing price of Rs 248.20 apiece.
Reason for rise:-
Today, the shares of the company have seen positive movement after SRM Contractors Ltd received a new project from the National Highway Authority of India (NHAI) worth Rs 171 crore for Strengthening and Maintenance Works/Activities on Section from Km 0.00 to Km 123.454 of Jetpur-Somnath Section excluding Junagarh Bypass (103Kms) in the state of Gujarat.
Financial analysis:-
Examining the company’s financial performance, revenue magnified by5 percent, from Rs 102.80 crore in Q4 FY23 to Rs 107.87crore in Q4 FY24. During the same period, net profit increased by 11 percent, from Rs 6.99 crore to Rs 6.17 crore.
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Project completion:-
As of March 2024, SRM Contractors has completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs including 31 road construction projects, 3 tunnel projects, 1 slope stabilization project, and 2 miscellaneous construction works.
Moreover, out of the 37 projects 29 infrastructure construction projects, including sub-contracts, were undertaken by the company independently and 8 projects were undertaken through project-specific joint ventures.
Company Snapshot:-
SRM Contractors Ltd. (SCL) is an engineering construction and development business that specializes in the building of roads (including bridges), tunnels, slope stabilization works, and other civil construction projects in the Union Territories of Jammu Kashmir and Ladakh.
Written by:- Abhishek Singh
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