Small-cap stock rose 4.2 percent to its intraday high of Rs 216.50 per share from its previous close of Rs 207.75 per share after the company announced it was redeveloping a luxury property in Mumbai.
Man Infraconstruction Limited (MICL) Group is redeveloping a property at Pali Hill, Bandra West, Mumbai into a luxury residential project. The project will offer limited edition apartments with a total carpet area of 50,000 sq. ft. and is expected to generate revenue of Rs. 500 crores, according to their filling.
The company has reported that net revenue decreased by 46 percent year on year from Rs 401.25 crores in Q2FY23 to Rs 215.29 crores in Q2FY24.
Their net profit increased from Rs 53.28 crores in Q2FY23 to Rs 69.65 crores in Q2FY24, a 30.7 percent year-over-year increase.
Man Infraconstruction Limited (MICL) has a market capitalization of Rs 5,678 crores. The company has a low debt-to-equity ratio of 0.19 and a low price-to-earnings ratio of 24.
Additionally, It has a return on equity (ROE) of 29.6 percent, a return on capital employed (ROCE) of 33.5 percent, and a net profit margin of 15 percent.
The share price of Man Infraconstruction Limited has increased by 89 percent in the last six months and by 186 percent year to date. For instance, if you invested Rs 1 lakh yeat to date, the current value would be Rs 2.86 lakhs.
The company’s Promoters hold a 67.15 percent stake in the company, with 3.72 percent owned by Foreign Institutional Investors, 27.04 percent owned by the General Public, and 2.09 percent owned by Domestic Institutional Investors.
Man Infraconstruction Limited (MICL) is a fully integrated EPC (Engineering, Procurement, and Construction) firm with experience and execution capabilities in the port, residential, commercial industrial, and road construction sectors.
Written by Sriram KV
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