The shares of the micro cap company touched 2% upper circuit after it received a contract worth Rs. 6.00 crores for the development of machinery from Jindal Paradip Port Ltd.
Share price variations:
With a market capitalization of Rs. 177.86 crores, the shares of Trishakti Industries Ltd hit its upper price band of 2% in BSE on Wednesday and closed at 122.10 from its previous closing of Rs. 119.75 per share. The share price has shown a growth rate of 307% on a year-to-date basis.
Reason for Rise:
As per the exchange filings Trishakti Industries Ltd has secured the largest contract in the company’s history from Jindal Paradip Port Ltd for development of machinery worth Rs. 6.00 Crores. With this contract the company has now surpassed more than 50% of the projected capital expenditure for the financial year 2024-25.
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Recent Contracts:
The company recently received work order contracts for providing crane rental services to KEC International Ltd worth Rs. 2.5 crores in September and from Jindal Stainless Ltd worth Rs. 4 crores in the month of July 2024.
Future Outlook:
The company has also ventured into the infrastructure sector with the introduction of a heavy equipment rental division in the beginning of financial year 2024-25 by investing Rs.10 Crores for the purchase of heavy machinery.
Financial Performance:
For the June quarter FY25 the company reported a net profit of Rs. 1.26 crores from 0.03 crores compared to quarter ended June FY24 and the Revenue from operations increased to 9.79 crores from 5.34 crores in comparison to the same period.
About the Company:
Incorporated in 1985 Trishakti Industries Ltd operates in multiple sectors including sectors of logistics & infrastructure , Oil & Gas , Food related items and agency service and recently into heavy equipment rental business.
The company also has a supply network base from China & UAE and has experience in the petrochemical industry over the past 30 years. The clients base consists of both Indian names like Reliance, L&T, Tata, RVNL, ONGC etc and foreign players like Kuwait oil Company, Pertamina, Sinopec and many others.
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Written By: Joseph Pv
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