Telecom stock engaged in manufacturing, trading, and servicing of telecommunication equipment, and rendering other associated and ancillary services in focus upon receiving work orders worth Rs. 95 Crores from the Government of Uttarakhand.
Price Action
With a market capitalization of Rs. 27,986 Crores, the shares of ITI Limited closed at Rs. 291.25 per equity share, down 0.33 percent from its previous day’s close price of Rs. 292.20.
What Happened
ITI Limited has engaged in manufacturing, trading, and servicing of telecommunication and other associated equipments has received a new work order from the Directorate of Geology & Mining, Government of Uttarakhand for a consideration of Rs. 95 Crores for five years.
The said work order is for the Mining Digital Transformation & Surveillance System (MDTSS) project for effective prevention of illegal mining and mineral transportation and to increase its revenue in the state.
It involves the development, implementation, and maintenance of the Mining Digital Transformation & Surveillance System (MDTSS) in the districts of Dehradun, Haridwar, Udham Singh Nagar, and Nainital.
The systems will be installed at 40 check gates across Dehradun, Haridwar, Nainital, and Udham Singh Nagar. Dehradun will have 8 check gates, Haridwar 13, Nainital 10, and Udham Singh Nagar 9.
The new system is equipped with bullet cameras, RFID radars, and LED floodlights. With Mining State Control Centre (MSCC) being set up in Dehradun, along with mini command centers at district headquarters in Dehradun, Haridwar, Nainital, and Udham Singh Nagar.
About the Company
ITI Limited is engaged in manufacturing, trading, and servicing of telecommunication equipment, and rendering other associated and ancillary services.
It manufactures telecom and electrical equipments, including electronic switching exchanges, transmission equipment, microelectronic telephone instruments Digital Mobile Radio systems, smart energy meters, mini personal computers, Smaash Laptop, three-dimensional printing, bank automation products, and others.
Financials & Ratios
Its Revenue from operations grew by 312 percent from Rs. 246 Crores in Q1FY24 to Rs. 1,016 Crores in Q1FY25, accompanied by losses of Rs. 126 Crores to Rs. 70 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of -7.66 percent, and a return on capital employed (ROCE) of -30.92 percent. It has reported a debt-to-equity ratio of 1.05.
Written by: Bharath K.S
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