Waste Management stock engaged in providing Waste Management Solutions, Municipal Solid Waste Management services, and many more hit a 2 percent upper circuit in the day’s trade upon receiving new work orders worth Rs. 50.28 Crores from Bhilai Municipal Corporation.
Price Action
With a market capitalization of Rs. 283 Crores, the shares of Urban Enviro Waste Management Limited hit a 2 percent upper circuit in the day’s trade at Rs. 653.70 per equity share, from its previous day’s close price of Rs. 640.90.
What Happened
Urban Enviro Waste Management Limited has received a new work order from Bhilai Municipal Corporation, Chhattisgarh for Door-to-Door Garbage Collection and transportation from residential and commercial areas, drain cleaning, roads, markets, and other areas by using three-wheeler rickshaws/E-rickshaws for a consideration of Rs. 50.28 Crores for one year.
Bonus Issue
The Board of Directors of Urban Enviro Waste Management Limited has considered and approved issuing Bonus Equity shares in the ratio of 1:1, where one equity share with a face value of Rs. 10 will be issued to each equity share held by the company’s shareholders as on the record date.
Recent Work Orders
It earlier received a new work order from Dhandhuka Nagarpalika, Gujarat, for Door-to-Door/Gate MSW collection and transportation ULBs/own closed body vehicles, with tipping arrangement including labors for 1 year for a consideration of Rs. 70.80 Lakhs.
This was followed by a work order by Khambhat Municipality (Anand District, Gujarat) for Door to door garbage Collection with a close body garbage tipper vehicle including Fuel and sufficient manpower for Khambhat Nagarpalika for a consideration of Rs. 1.47 Crores.
Lastly, it secured a work order from Anand Municipality, Anand District, Gujarat for providing Door-to-Door Collection & Transportation and Transportation work through the Latest Technology, Systems of Anand Nagarpalika for a consideration of Rs. 4.55 Crores for 1 year.
About the company
Urban Enviro Waste Management Limited is engaged in providing Waste Management Solutions, Municipal Solid Waste Management services, and many more. Its services include solid waste collection, transportation, segregation of waste, and processing and disposal services, street sweeping projects, providing manpower, skilled/unskilled labourers, and many more.
Financials and Ratios
Its revenue from operations grew by 57 percent from Rs. 46 Crores in H1FY24 to Rs. 72 Crores in H1FY25, accompanied by profits of Rs. 4 Crores to Rs. 8 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 36.52 percent and a Return on capital employed (ROCE) of 34.64 percent. It has reported a debt-to-equity ratio of 0.79.
Written by: Bharath K.S
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