Synopsis: Expo Engineering and Projects Ltd. surged 3% after securing a ₹14.53 crore order from IOCL for Tank M and I Agency services at Haldia Refinery, to be completed within 24 months.
The shares of the penny stock company specializing in manufacturing process plant equipment and providing site engineering and construction project solutions, jumped upto 3 percent upon receiving a work order from Indian Oil Corporation.
With a market capitalization of 166.14 Crores on Wednesday, the shares of Expo Engineering And Projects Ltd jumped upto 3 percent, reaching a high of Rs. 73.98 compared to its previous close of Rs. 71.81.
What Happened
Expo Engineering and Projects Ltd, engaged in manufacturing process plant equipment and providing site engineering and construction project solutions, has received a work order worth Rs.14.53 crore (inclusive of taxes) from Indian Oil Corporation Limited (IOCL), Haldia Refinery.
The order is part of the company’s normal business operations and is related to a rate contract for Tank M and I Agency services at the Haldia Refinery. The project is to be completed within 24 months.
Financial & Others
The company’s revenue declined by 53 percent from Rs. 31.90 crore to Rs. 15.00 crore in Q2FY26. Meanwhile, the Net profit rose from Rs. 0.66 crores to Rs. 0.85 crores during the same period.
The company has a decent return on capital employed (ROCE) of 12.8% and a return on equity (ROE) of 12.0%, indicating good profitability relative to its capital and equity. It has also reduced its debt, with a debt-to-equity ratio of 0.82, suggesting a relatively balanced approach to leveraging its finances.
Expo Engineering and Projects Ltd. (formerly Expo Gas Containers Ltd.) is an Indian company that provides integrated engineering and construction solutions, specializing in manufacturing process plant equipment and undertaking site engineering projects. Founded in 1982, the company is based in Mumbai.
The company specializes in the manufacturing of critical industrial products like pressure vessels, heat exchangers, and storage tanks. These products are essential for the efficient and safe operation of plants in industries such as oil and gas, petrochemicals, and fertilizers.
The company serves prominent clients in the energy sector, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL). These are some of India’s largest oil and gas companies, which highlight the company’s strong position and reliability in catering to major industry players.
The company manufactures process plant equipment such as pressure vessels, heat exchangers, reactors, columns/towers, tonners, Horton spheres, and bullets. Its services include the maintenance and installation of heat exchangers, columns, column trays and internals, and piping within the battery limits.
The company also undertakes site construction projects, including cone/dome roof tanks, floating roof tanks, cryogenic tanks, mounded storage tanks, project piping, material handling systems, and turnkey projects.
Written by Sridhar J
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