Power stock engaged in manufacturing of electrical equipment such as switchboards, transformers, vacuum contactors, and many more, hit a 5 percent upper circuit in the day’s trade upon receiving a work order worth Rs. 126 Crores from Maharashtra Industrial Township Limited.
With a market capitalization of Rs. 158 Crores, the shares of Akanksha Power and Infrastructure Limited hit a 5 percent upper circuit at Rs. 84.95.
The joint venture partnership of Megha Electrical Services and Akanksha Power and Infrastructure Limited has received a Letter of Award (LOA) worth Rs. 126 Crores from the Maharashtra Industrial Township Limited.
The said order is for Carrying out the Power Distribution work and associated activities of Metering, Billing and Collection, Operation & Maintenance of Electrical Network and related work, including metering billing and collection activities, installation of AMR smart metering infrastructure, the establishment of Billing and analytics system with customer care system and it should be executed within 10 years.
Akanksha Power and Infrastructure Limited is engaged in the manufacturing of electrical equipment such as switchboards, transformers, and vacuum contactors for institutions, industries, and utilities and provides EPC services related to it.
Its revenue from operations declined by 11.09 percent from Rs. 51.84 Crores in FY22 to Rs. 46.09 Crores in FY23, accompanied by profits of Rs. 2.41 Crores to Rs. 2.91 Crores.
It has reported a return on equity (ROE) of 20.3 percent and a return on capital employed (ROCE) of 19.5 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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