The shares of this microcap stock primarily engaged in manufacturing Railway Signaling Products and Metro Rail Rolling Stock Products, hit a 10 percent upper circuit after bagging multiple work orders from BEML and others with a total consideration of Rs 2.5 crore.
Stock Performance
With a market capitalization of Rs 87.87 crore, Presstonic Engineering Ltd hit a 10 percent upper circuit at Rs 114.20 per share in Tuesday’s trading session as compared to its previous closing price of Rs 103.85 per share. The shares retraced from the day’s high and were trading at Rs 114.
What Happened
Presstonic Engineering Ltd has received a purchase order from BEML Limited, Bengaluru for the supply of Floor Seat Screws for BMRCL-5 RSDM Project. The total consideration for this order is valued at Rs 92 lakh.
Further, on April 1 the company announced the receipt of a prestigious order from the Spanish Railway Giant M/s. CAF (Construcciones y Auxiliar de Ferrocarriles) to supply Support Kit Structure to RENFE High Speed Trains, delivered to Spain. This contract is valued at 1,66,670.92 EURO or Rs 1.5 crore.
Company Overview
Presstonic Engineering Ltd is primarily engaged in the manufacture of Metro Rail Signalling Products, Metro Rail Rolling Stock Products, Infrastructure Products and other products to Global and Domestic OEM’s. The company’s major clients include Hyderabad Metro Rail, Namma Metro, Chennai Metro Rail and Kolkata Metro Rail among others.
Financials
When looking at the financial statements of the company, Presstonic Engineering reported a 78 percent decline in revenue from Rs 14.25 crore to Rs 3.08 crore during H1 FY24-25. The company also announced a net loss of Rs 4.4 crore as compared to a net profit of Rs 2.03 crore during the same period last year.
Written by Shwetha Sairam
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