45 per cent returns from its 52-week low: This micro-cap company receives order worth Rs 6.24 crore from Water Resource Division!

The stock is up by 45 per cent from its 52-week low of Rs 83.36 per share.

Mahindra EPC Irrigation Ltd (MEIL) is part of the Mahindra Group of companies informed that the company has been awarded a contract from the Office of the Executive Engineer, Water Resource Division. The order includes the supply of pressurised micro-irrigation systems for 100 Ha. The order is worth Rs 6.24 crore and will be completed within 11 months from the letter of intent (LOI).

Earlier, the company received a contract from an overseas customer. The order includes the supply of micro-irrigation systems. The order is worth Rs 7.23 crore and will be completed within nine months from the letter of intent (LOI).

Mahindra EPC Irrigation Ltd is engaged in the business of manufacturing and selling Irrigation systems. The solutions provided by the company through micro-irrigation systems help in sustainable agriculture.

Talking about the finances, MEIL has a market cap of Rs 333 crore. The net sales stood at Rs 53.25 crore, up 12.53 per cent in Q1FY24 compared to Q1FY23. The company reported a net loss of Rs 0.81 crore in Q1FY24 compared to a net loss of Rs 6.41 crore in Q1FY23.

According to the shareholding pattern, the promotors of the company (Mahindra & Mahindra Ltd) own a 54.26 per cent stake, FIIs own 0.13 per cent and the rest 43.61 per cent stake is owned by the general public.

On Friday, shares of MEIL surged 2.45 per cent to Rs 119.20 per share with an intraday high of Rs 121.75 and an intraday low of Rs 117.65. The stock’s 52-week high is Rs 133.85 and its 52-week low is Rs 83.86.

The stock is up by 45 per cent from its 52-week low of Rs 83.36 per share. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.