Shares of this micro-cap company clocked 10 percent upper circuit in Monday’s trading session after receiving an order from the Gujarat Government under the Swachh Bharat Mission. The shares have delivered 30 percent returns to its shareholders in just five trading sessions.
With a market capitalization of Rs. 171 crores, the shares of Urban Enviro Waste Management Ltd started Monday’s trading session on a higher note at Rs. 367 compared to its previous close of Rs. 360.55. During the trading session, the shares clocked 10 percent upper circuit at Rs. 396.60 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received a work order from Ankleshwar Municipality, Gujarat for conducting IEC activity in the Ankleshwar municipality area under the Swachh Bharat Mission.
Coming onto the company’s financial statements, the revenue magnified by 99 percent from Rs. 19.69 crores during FY21-22 to Rs. 39.16 crores in FY22-23. In addition, the net profits zoomed by around 35 percent from Rs. 1.61 crores to Rs. 2.16 crores during the same timeframe.
Earlier, in January, the company received a work order from the Health Department, Municipal Council Kamptee, District Nagpur for Swaccha Maharashtra Abhiyan (civil) 2.0, Nagar Parishad regarding starting the work of Biomining (Legacy Waste Remediation) on old stored waste at dumping yard on Kamptee area for worth Rs. 1.05 crores.
Looking at the company’s important financial ratios, the return on equity (RoE) stood at 47.89 percent during FY22-23 and the return on capital employed was recorded at 17.44 percent during the same period. Furthermore, the net profit margin stood at 5.52 percent during FY22-23.
According to the latest shareholding pattern, the Promoters have 51.19 percent of stakes and the remaining 48.1 percent of shares are with the Retail Investors.
Headquartered in Mumbai, Urban Enviro Waste Management was incorporated in 2011. The company provides Waste Management Solutions and Municipal Solid Waste (MSW) Management services.
Written By Vaibhav Patil
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