The shares of Ahluwalia Contracts India Ltd gained 9 percent on Tuesday’s first half session, reaching a 52-week high of Rs 643.95. The company has a market capitalization of Rs 4,279 crores. Such a movement in the stock price was noticed after the company received a new order.
According to the exchange filing, the company obtained a work order from Aerocity, New Delhi for the Construction of Civil Structure and External Development work for the Retail Block, for the worth of Rs. 426.57 Crores. The order inflow of the company stands at Rs 4,177.83 crore as of FY 2023-24.
At 12:15 hrs, the stock was trading at Rs 638.60 on the NSE, up 8.79 percent from its previous close.
In the past six months, the stock has gained 38.18 percent from Rs 461.20 to current levels, and in the previous year, the stock gained 50.43 percent from Rs 423.65 to current levels.
Ahluwalia Contracts (India) Ltd has been engaged in the construction industry for more than 40 years and is specialized in planning and scheduling manpower, equipment, materials, and many more.
According to the company’s financials, net profit grew by 71% in Q4FY23 to Rs 72 crore from Rs 42 crore in Q4FY22. Furthermore, revenue from operations climbed by 18% to Rs 863 crore from Rs 730 crore in the previous year’s quarter.
Revenues increased marginally year on year, rising from Rs 2,692 crore in FY 21-22 to Rs 2,838 crore in FY 22-23. For the same time period, the net profit has increased from Rs 155 crore to Rs 194 crore.
Profitability ratios increased marginally from FY22 to FY23. ROE for FY23 is 15.79 percent, while ROCE is 21.41 percent. Similarly, the net profit margin is 6.83 percent.
As per the shareholding pattern, promoters of the company hold a 55.32 percent stake,Foreign institutional investors hold 11.5 percent and domestic institutional investors hold a 27.97 percent stake in the company for FY 22-23.
Written by Omkar C
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