This small-cap steel fabrication and infrastructure stock rose 5 percent to Rs 53.90 on Tuesday’s early trade after the company commissioned a new Zinc Galvanization Plant with an Annual Capacity of 96000 Metric Tons.
At 10:40 a.m., Salasar Techno Engineering Ltd shares were trading at Rs 52.50 apiece, up 2.93 percent from the previous close price and the company has a market capitalization of Rs 1,657 crore.
According to the company’s exchange filing, Salasar Techno Engineering Ltd has successfully installed and commenced operation of a new zinc galvanization facility with an annual capacity of 96000 metric tonnes, With effect from September 25th, 2023, at the company’s Unit – III, located in Village – Khera P.O. Pilkhuwa, Tehsil Dhaulana, Distt- Hapur, Uttar Pradesh, India.
The new Zinc Galvanization Plant is a significant milestone in the company’s growth and expansion. With its cutting-edge technology and increased capacity, the plant, which is one of the largest in the world, is poised to play a critical role in meeting the growing demand for high-quality galvanized products in a variety of industries, particularly gearbox line monopoles and large-scale structures such as infrastructure, construction, and automotive.
Salasar Techno Engineering revenue has increased by 24 percent yearly, from Rs 210 crore in Q1FY23 to Rs 261 crore in Q1FY24. During the same time, the company’s net profit has increased by 43 percent from Rs 7 crore to Rs 10 crore.
Salasar Techno Engineering shares have delivered returns of 45 percent in the last six months and 74 percent in a year.
According to the latest shareholding pattern, the promoters of the company hold a 63.07 percent stake, while foreign institutional investors hold 9.04 percent and retail investors hold a 27.87 percent stake in the company.
Salasar Techno Engineering is specialized in the development of customized steel fabrication and infrastructure solutions. Engineering, design, manufacture, galvanization, and deployment are all services offered by the company.
Written by Omkar Chitnis
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