Shares of this multibagger steel stock under the ‘small-cap’ category are in focus after the company successfully bagged an order worth Rs 200 crores for the supply of solar structures. Year-to-date, the company’s stock rose nearly 92 percent.
With a market capitalization of Rs 4,029.98 crores, the stocks of Salasar Techno Engineering Limited started their trading session on Wednesday at Rs 27.50 and currently trade at Rs 25.53. The company’s scrip witnessed an intra-day high, the same as the opening price, exhibiting a gain of around 4.70 percent compared to the previous close of Rs 26.27 apiece.
In a recent regulatory filing with the exchange, the company intimated about the receipt of an order from “ZETWERK Business Private Limited” worth Rs 200 crores for the purpose of supplying 25,000 MT of Solar Structures. The abovementioned order is expected to be completed within 12 months.
“This agreement further strengthens our order book, contributing to our ongoing growth trajectory. This not only broadens the scope of our operations but also reflects our dedication to contributing to the global push for renewable energy.”, the Management Team of Salasar Techno Engineering commented.
Keeping a purview of six months, the company’s stock delivered multibagger returns of approximately 145 percent, i.e., if someone had invested Rs 1 lakh into the company’s stock six months ago, it would have converted to Rs 2.45 lakhs.
During the recent financial quarters, the company’s basic business indicators, such as operating revenues as well as after-tax profits, showed positive movements with the former rising from Rs 275 crores during Q2FY24 to Rs 303 crores during Q3FY24, and the latter, keeping the timeframe the same, moving from Rs 9 crores to Rs 16 crores.
As per the data available in the company presentations, the company’s total order book stands at Rs 2,326 crores with the ‘Domestic EPC’ orders constituting 81 percent of the order book, i.e., Rs 1,879 crores followed by the ‘International EPC’ orders worth Rs 221 crores.
Founded in 2001, Salasar Techno Engineering Limited is engaged in the business of manufacturing galvanized steel structures and other associated activities for telecom & transmission towers, high mast poles, stadium lighting poles, railway electrification, etc.
Written by Amit Madnani
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