On Monday this small-cap stock climbed more than 4% after the company received an order worth Rs. 75 Cr. The stock has delivered 24% returns in six months and 60% returns in one year. The stock closed 10% below the 52-week high. The company shares are currently, trading above both the 50-day and 200-day moving averages.
Salasar Techno Engineering Ltd
The company has a market capitalization of Rs. 1,684 Cr., making it a small-cap. On Monday stock gained more than 4% and closed 2.9% up at Rs. 53.35 on NSE.
According to the company filing, Salasar Techno Engineering has been awarded a prestigious contract worth Rs. 75.2 Cr by Energy Development Corporation Limited for setting up 110kv transmission lines connecting the Africa region of Rwinkwavu-Kirehe, Gabiro-Nyagatare and Rulindo-Gicumbi. The project is expected to be completed within 18 months.
As per the company filing, total revenue increased by 24% from Rs. 211.25 Cr in Q1 FY23 to Rs. 262.35 Cr in Q1 FY24 and for the same period, net profit grew by 38% from Rs 7.3 Cr to Rs. 10.1 Cr.
As per the latest shareholding information, Promoters hold 63.07%, FIIs hold 9.04%, DIIs hold 0.01% and the Public hold a 27.88% stake in the company.
Salasar Techno Engineering Ltd produces and fabricates steel structures for telecom towers, transmission towers, utility poles, high mast poles, stadium lighting poles, flag poles, and poles for smart cities. The company also produce substation structures, rail electrification (OHE), and solar module mounting structures.
Written by Sheshadri N
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