Synopsis:
Oval Projects Engineering Ltd is in focus after securing LoA from Tripura Urban Planning and Development Authority.
An infrastructure development company specializing in the Oil & Gas, City Gas Distribution, Urban Development, and Energy sectors across India, is in the spotlight after receiving a Letter of Award from TUDA worth Rs. 21.04 crore.
With the market capitalization of Rs. 147.19 crore, the shares of Oval Projects Engineering Ltd is trading at Rs. 70.87, touching an upper circuit of 5 percent from its previous day’s close price of Rs. 67.50 per equity share
Work Order
Oval Projects Engineering Limited has received a Letter of Award from the Tripura Urban Planning and Development Authority (TUDA) for constructing a Vegetable and Fish Market at Vidhyasagar Market, Belonia, South Tripura, under the Special Assistance for Capital Investment (Urban Reform Part-III) for FY 2023-24. The project, valued at Rs. 21.04 crore, is to be completed within 730 days, starting 15 days after the issuance of the work order.
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About the Company & Others
Incorporated in 2013, Oval Projects Engineering Limited is an infrastructure development company active in Oil & Gas, City Gas Distribution, Urban Development, and Energy sectors across India.
It provides turnkey solutions covering upstream, midstream, and downstream activities such as pipeline laying, gas processing plants, CGS work, EPC projects, and O & M services for power plants and CNG stations.
The company has executed over 900 km of pipeline installations and expanded into special civil infrastructure projects supported by government and global agencies like the World Bank and ADB. With a strong presence in regions including Agartala, Tripura, and other parts of India, the company employed 123 people as of March 31, 2025.
With a price range of Rs. 80 to Rs. 85 per equity share, Oval Projects Engineering Ltd launched its SME IPO ( initial public offering). The subscription period was open from August 28 to September 1, 2025.
On September 4, 2025, the company’s shares went public on the BSE platform, initially trading for Rs. 85.25 each. This indicated strong investor interest and represented a listing gain of about 0.29 percent over the upper end of the issue price.
A return on equity (ROE) of about 20.6 percent, a return on capital employed (ROCE) of about 22.2 percent and debt to equity ratio at 0.96 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 16x lower as compared to its industry P/E 20.7x.
The company’s total income in FY25, stood at Rs. 103.44 Crore, up from from Rs. 78.99 Crore in FY24, similarly profit after tax also stood at Rs. 9.33 crore increased from Rs. 4.4 crore in FY24.
Written by Akshay Sanghavi
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