During Monday’s trading session, the shares of one of the leading manufacturers and wholesalers of high tensile steel straps, strapping seals, and strapping tools hit a 5 percent upper circuit on NSE, after the company secured orders worth a total of Rs. 65.7 crores from Vedanta Group.
Price Movement
With a market capitalisation of Rs. 292.3 crores, the shares of Krishca Strapping Solutions Limited closed in the green at Rs. 206, up by around 0.2 percent, as against its previous closing price of Rs. 205.5.
What’s the News
As per the latest regulatory filings with the NSE, Krishca Strapping Solutions Limited secured orders, with a combined contract value of Rs. 68.75 crores, from ESL Steel Limited (Vedanta Group) from Jharkhand at its Mappedu facility.
The first order, valued at Rs. 18.38 crores, is for the strapping and wrapping of WRM coils and bar bundles, to be executed in 3 years. The second order worth Rs. 47.36 crores is for the strapping and wrapping of WRM coils & bar bundles and compactor handover services, to be executed in 5 years.
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Financial Performance
Krishca Strapping Solutions experienced significant growth in its revenue from operations, showing a year-on-year fall of around 33.3 percent from Rs. 48 crores in H1 FY24 to Rs. 64 crores in H1 FY25. However, its net profit decreased during the same period from Rs. 6 crores to Rs. 5 crores, indicating a decline of around 16.6 percent YoY.
About the Company
Headquartered in Chennai, Krishca Strapping Solutions Limited is engaged in the business of manufacturing steel straps & seals, and providing total packaging solutions. The company primarily caters to the Indian Market with some export operations to countries in the Middle East.
The company commenced commercial production in March 2020, pioneering India’s first “Lead-Free” and eco-friendly heat treatment process for steel strapping. It is also Tamil Nadu’s first major steel strap manufacturing unit. With an integrated manufacturing facility in Chennai, Krishca boasts a production capacity of 30,000 MT of Steel Straps and 120 MN Strapping Seals annually.
Written by Shivani Singh
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