Penny stock engaged in the business of manufacturing and supplying a wide range of Lubricants jumped 3 percent in the day’s trade upon receiving a work order worth Rs. 24.27 Crores from Bharat Heavy Electricals Limited (BHEL).
With a market capitalization of Rs. 85.99 Crores, the shares of Arabian Petroleum Limited were trading at Rs. 78.95, up 1.61 percent from its previous day’s close price of Rs. 77.70.
Arabian Petroleum Limited has received an order worth Rs. 24.27 Crores from the Bharat Heavy Electricals Limited (BHEL) plants and units across the country for the supply of Lubricants and Greases.
The above order may be received following the company’s letter sent earlier to Bharat Heavy Electricals Limited (BHEL) regarding the supply of Lubricants and Greases to the BHEL Plants and units across the country.
Arabian Petroleum Limited is engaged in the business of manufacturing and supplying a wide range of Lubricants including specialty oils, coolants, and many more used for application in automobiles, industrial machines, and appliances.
Its revenue from operations grew by 27.18 percent from Rs. 191 Crores in FY22 to Rs. 243 Crores in FY23, accompanied by increasing profits of Rs. 4 Crores to Rs. 5 Crores.
It has reported a return on equity (ROE) of 24.8 percent and a return on capital employed (ROCE) of 17 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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