Shares of this microcap locked 10 percent upper circuit after receiving a new contract from the Lucknow Development Authority. The stock was listed on the NSE SME platform on June 4, 2024, at a discount of 9.09 percent at Rs. 100. Since then, the stock has generated over 100 percent returns for its shareholders.
Price Movement:
With a market capitalization of Rs. 277 crores, the shares of Z-Tech (India) Ltd started Monday’s trading session on a higher note at Rs. 216.35, clocking a 10 percent upper circuit, also recorded as the company’s fresh 52-week high, compared to its previous close of Rs. 196.70 apiece.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced that the Lucknow Development Authority (LDA) had awarded a new contract to create SAPTAK PARK, along with the Fast Forward Sports Arena.
The construction has already commenced, and the park is scheduled to open by October 2024. This project signifies the launch of a new vertical dedicated to modern, new-age games.
Financials:
Looking at the company’s financial statements, the revenue zoomed by 162 percent from Rs. 25.73 crores during FY22-23 to Rs. 67.32 in FY23-24. In addition, the net profits magnified by 298 percent from Rs. 1.96 crores to Rs. 7.80 crores during the same timeframe.
Key clients:
Some of the key customers of Z-Tech (India) Ltd are Dilip Buildcon Limited, GMR Infra Limited, IRCON International Limited, Hindustan Construction Co. Ltd., Madhucon Sugar and Power Industries Limited and GVR Infra Projects Limited.
The company offers a range of specialized geotechnical services, including soil wall and slope reinforcement, slope stabilization, retaining structures, ground improvement, and coastal protection. Moreover, the company treats the chemical-laden water into reusable water but also extracts the chemicals that can be further utilized.
Furthermore, Z-Tech focuses on transforming waste materials into beautiful, functional artwork and infrastructure for theme parks. They prioritize ecological, social, and economic sustainability in their projects.
Company Profile:
Incorporated in November 1994, Z-Tech (India) Limited designs civil engineering products and provides state-of-the-art speciality Geo-Technical Solutions for infrastructure and civil construction projects in India. The company is involved in the waste management sector, focusing on creating theme parks using recycled scrap materials.
Written By Vaibhav Patil
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