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Small-cap stock engaged in the business of Mining Iron Ore, Manufacturing Iron Ore Pellets, generating electricity and many more jumped 7 percent in the day’s trade following multiple events like Q3FY24 results, environment clearance, and others. 

With a market capitalization of Rs. 10,958 Crores, the shares of Godawari Power & Ispat Limited were trading at Rs. 806.10, up 5.84 percent from its previous day’s close price of Rs. 761.60. 

Godawari Power & Ispat Limited has received environmental clearance for the expansion of the Iron Ore Pelletization Capacity of the Company from 2.7 MTPA to 4.7 MTPA capacity at Siltara Industrial Area, Raipur, Chhattisgarh. 

It has also commenced the operations of its 23 MWp Captive Solar PV Power Plant situated at Khairagarh (Rajnandgaon) Chhattisgarh. The generation of Solar Energy will support the green initiatives of the Company and reduce the carbon footprint. 

In Addition to this Godawari Power & Ispat Limited has released its Q3FY24 results, Its revenue from operations declined by 10.53 percent YoY from Rs. 1,462.99 Crores in Q3FY23 to Rs. 1,308.92 Crores in Q3FY24 and it grew 1.38 percent QoQ from Rs. 1,291.04 Crores in Q2FY24 to Rs. 1,308.92 Crores in Q3FY24. 

Its Net Profit grew by 70.12 percent YoY from Rs. 139 Crores in Q3FY23 to Rs. 236.48 Crores in Q3FY24 and it declined 13.22 percent QoQ from Rs. 272.51 Crores in Q2FY24 to Rs. 236.48 Crores in Q3FY24. 

Godawari Power & Ispat Limited is engaged in the business of Mining Iron Ore and Manufacturing Iron Ore Pellets, Sponge Iron, Steel Billets, Wire Rods, H.B. Wire, and Ferro Alloys, along with the generation of Electricity 

Written by: Bharath K.S 

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