The share price of a company that offers water and environmental solutions is currently trading in the green, up by 0.55 percent at Rs. 363 in the morning session on Monday, and the company recently announced receiving a Notification of Award (NoA).
With a market cap of Rs. 451.68 crore, the shares of Felix Industries Ltd. opened at Rs. 363.0 on February 19th, compared to its previous close of Rs. 361.00.
According to the recent filings on NSE, the subsidiary company of Felix Industries, Rivita Solutions Private Limited, received a Notification of Award (NoA) from Oil and Natural Gas Corporation Limited (ONGC), for the hiring of services for Operations and Maintenance Management (O&M) of three WIP’s (Lim.-1, Lim-2 & Gamij) of Ahmedabad Asset.
Furthermore, the estimated contract value is Rs. 1.659 crore, inclusive of all taxes and duties, and the contract period will be 6 months, with a provision for early termination of the contract by ONGC by giving prior notice of 7 days to the contractor.
In terms of financials, the revenue from operations of Felix Industries increased by 24.21% from Rs. 9.5 crore in Q2 FY22-23 to Rs. 11.8 crore in Q2 FY23-24, accompanied by an increase in net profit by 19.7% to Rs. 0.97 crore in Q2 FY23-24 from Rs. 0.81 crore in Q2 FY22-23.
Felix Industries Limited is an environmental conservation company located in Ahmedabad, Gujarat, with the objective of ‘Recycle-Reuse-Recover-Reduce’.
The company’s strategy is to recycle waste water, reuse it, recover products, and reduce effluents, as well as to take advantage of any opportunity that allows for water processing, purification, and recycling to ensure water sufficiency for future generations.
Written by Shivani Singh
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