Shares of this micro-cap company clocked 5 percent upper circuit after receiving an order worth Rs. 78.12 crores from the Government. The shares have delivered around 35 percent returns to its shareholders in just five trading sessions.
With a market capitalization of Rs. 191 crores, the shares of Urban Enviro Waste Management Ltd started Thursday’s trading session on a higher note at Rs. 440.65 compared to its previous close of Rs. 419. Within a few minutes of the opening bell, the shares clocked 5 percent upper circuit at Rs. 440.65 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 for 5 years from Chandrapur City Municipal Corporation, for Door to Door collection and transportation of segregated solid waste of Chandrapur City upto processing site. The said receipt of the work order is of worth Rs. 78.12 crores.
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, last week, the company received a work order from Ankleshwar Municipality, Gujarat for conducting IEC activity in the Ankleshwar municipality area under the Swachh Bharat Mission.
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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