The shares of a Micro-Cap company, specializing in engineering, construction, and development, mainly focusing on roads, sewerage, and water distribution projects, hit a 2 percent upper circuit upon receiving a work order for Rs. 454 crores.
With a market capitalization of Rs. 451.18 crore on Monday, shares of Teerth Gopicon Limited opened at Rs. 383.5, reaching the 2 percent upper circuit compared to the previous closing price of Rs. 376.00.
What Happened
Teerth Gopicon Limited, engaged in engineering, construction, and development, mainly focusing on roads, sewerage, and water distribution projects, has received a Letter of Acceptance from Indore Smart City Development Limited.
The order intends for the freehold sale and development of 68,510.492 sq. m. of land (part of MOG Lines Land Parcel-2) as per the Indore ABD Area Master Plan. The project, valued at Rs. 454.54 crore, is to be executed within 36 months, with the company responsible for development as per the tender’s terms and conditions.
About the Company
Teerth Gopicon Limited, incorporated in 2019, is an ISO-certified engineering, construction, and development company specializing in roads, sewerage, and water distribution projects primarily in Madhya Pradesh. The company undertakes civil and electrical contracting, including building construction, pipelines, sewage networks, and treatment plants, serving government and private clients.
Teerth Gopicon Limited serves key clients & Affiliations including Indore and Ujjain Smart Cities, Jal Jeevan Mission, Equity Erfancy WRD, GWRDC, and Gujarat State Electricity Ltd, and more. These affiliations highlight its strong presence in government infrastructure and utility projects.
Financials
The company’s revenue rose by 82 percent from Rs. 37.42 crore to Rs. 68.12 crore in H1FY24-25. Meanwhile, Net profit rose from Rs. 3.42 crores to Rs. 9.52 crores during the same period.
The company has a low debt-to-equity ratio of 0.22 and strong financials, with an average ROE of 36.58 percent and ROCE of 30.89 percent over the last three years. It has also achieved an impressive 3-year average revenue growth of 49.87 percent and net profit growth of 323.03 percent.
Written by Sridhar J
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