Microcap stock engaged in Manufacturing Micro Irrigation Systems, Sprinkler Pipe and many others and merchant trading of Polymers & Other Products jumped upto 19 percent in the day’s trade upon receiving a new work order worth Rs. 150 Crores from Andhra Pradesh Micro Irrigation Project.
Price Action
With a market capitalization of Rs. 252 Crores, the shares of Signet Industries Limited were trading at Rs. 74.21 per equity share, up 15 percent from its previous day’s close price of Rs. 74.21.
What Happened
Signet Industries Limited has announced that it has been allocated 20,000 hectares of land for the installation of micro-irrigation systems on farmers fields by the Andhra Pradesh Micro Irrigation Project (APMIP)
The new developmental works are expected to significantly contribute to enhancing agricultural efficiency and sustainability in the region and generate a revenue of approximately Rs. 150 Crores for the Company.
About the Company
Signet Industries Limited is engaged in merchant trading of Polymers & Other Products and Manufacturing of Micro Irrigation Systems, Sprinkler Pipe / PVC Pipe & Agro fittings and its Allied Products, and all type of household & Plastic Moulded Furniture.
Financials & Ratios
Its revenue from operations declined by 12.53 percent from Rs. 288.82 Crores in Q1FY24 to Rs. 252.64 Crores in Q1FY25, accompanied by profits of Rs. 3.20 Crores to Rs. 0.49 Crores.
In terms of return ratios, it has reported a return on equity (ROE) of 7.22 percent and a return on capital employed (ROCE) of 14.8 percent. In terms of liquidity, it has reported a high debt-to-equity ratio of 1.53.
Written by: Bharath K.S
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