Synopsis:
Atmastco Ltd, witnessed gains after announcing two fresh orders and one letter of intent from L&T–MHI Power Boilers Pvt. Ltd. worth Rs. 54.99 crore.
A fabrication and EPC stock moved higher after disclosing significant fresh order wins, boosting investor confidence despite recent margin weakness. The stock reacted positively as investors factored in the company’s expanding order book and sustained demand outlook across engineering and infrastructure segments.
Atmastco Ltd, with a market capitalization of Rs. 553.56 crore, opened at Rs. 219.90 after a previous close of Rs. 217.90. The stock touched an intraday high of Rs. 227, marking a rise of 4.17 percent from the prior close.
What’s the News?
The company announced the receipt of two purchase orders from L&T–MHI Power Boilers Pvt. Ltd. for the supply of ceiling girder and interconnecting beam fabrication material for the Gadarwara Unit 3 and 4. The total consideration for this contract is Rs. 36.97 crore.
In addition, the company received a letter of intent from L&T–MHI Power Boilers Pvt. Ltd. for the fabrication and supply of buckstay, valued at Rs. 18.02 crore. Together, the orders amount to nearly Rs. 55 crore, further strengthening Atmastco’s project portfolio.
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Financial Snapshot
From September 2024 to March 2025, sales rose from Rs. 139 crore to Rs. 151 crore, an increase of 8.63 percent. Operating profit, however, declined from Rs. 25 crore to Rs. 17 crore, a fall of 32 percent. Profit before tax dropped from Rs. 20 crore to Rs. 8 crore, down 60 percent, while net profit fell from Rs. 14 crore to Rs. 5 crore, a decline of 64.3 percent.
On a year-on-year basis, sales increased from Rs. 148 crore in March 2024 to Rs. 151 crore in March 2025, up 2.03 percent. Operating profit decreased from Rs. 23 crore to Rs. 17 crore, a decline of 26 percent. Profit before tax fell from Rs. 14 crore to Rs. 8 crore, down 42.9 percent, while net profit slipped from Rs. 10 crore to Rs. 5 crore, a fall of 50 percent.
Order Book and Other Highlights
The company reported an order book position of Rs. 342.27 crore as of July 2025, supported by fresh inflows worth Rs. 900 crore. This reflects Atmastco’s established presence in EPC and engineering fabrication segments, backed by experienced management.
According to a report from Acuité Ratings & Research Limited, Despite the robust pipeline, margins declined in FY25 due to EPC operations, where costs were incurred but bills could not be raised because of pending quality clearances.
This led to unrealized revenue and higher variable costs. Still, the company’s financial risk profile remained healthy with gearing below unity, adequate liquidity, and comfortable debt protection metrics, though bank limit utilization stayed high owing to a working-capital-intensive cycle.
About the Company
Atmastco Ltd is engaged in the design, manufacturing, and supply of precision equipment and heavy fabrication structures for diverse industrial applications. The company specializes in producing ceiling girders, railway girders, columns, bracings, bolted structures, pressure ducts, and box columns.
These products cater to power, steel, cement, railways, water treatment, refineries, fertilizers, and pre-engineered buildings. With over two decades of execution experience, Atmastco has established itself as a reliable player in the heavy fabrication industry.
written By Manan Gangwar
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