5:1 stock split & Rs 3,000+ crore order book: Multibagger solar company bags new orders worth Rs 1522,50,21,214 from MAHAGENCO
The stock gave multibagger returns of over 1,300 per cent from its 52-week low of Rs 41.37 per share.
On Monday, shares of Bondada Engineering Ltd plunged 4.95 per cent to Rs 582.50 per share from its previous closing of Rs 612.85. The stock’s 52-week high is Rs 753.98 per share and its 52-week low of Rs 41.37 per share.
Bondada Engineering Limited has secured significant new contracts from M/s. Maharashtra State Power Generation Company Limited (MAHAGENCO). These contracts, valued at a combined Rs. 15,22,50,21,214, encompass the design, engineering, supply, erection, testing, and commissioning of Crystalline Ground-mounted solar PV power plants across various districts in Maharashtra. The projects are part of the MSKVY 2.0 scheme and include a three-year operation and maintenance period.
The contracts involve two distinct scopes of work. The first contract, worth Rs 11,32,24,64,036, focuses on the design, engineering, supply, erection, testing, and commissioning of Crystalline Ground-mounted solar PV power plants. The second contract, valued at Rs 3,90,25,57,178, specifically addresses the design, engineering, manufacture, supply, erection, testing, and commissioning of Crystalline Solar PV technology Grid interactive Solar PV power plants with dry cleaning. Both contracts are domestic projects and are expected to be completed within one year from the date of land allotment.
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The shares of the company ex-traded stock split in the ratio 5:1 on September 02, 2024, i.e., the existing 1 equity share of the company having a face value of Rs 10 each fully paid-up shall be sub-divided/split into 5 equity shares having a face value of Rs 2 each fully paid-up.
Incorporated in 2012, Bondada Engineering Limited provides engineering, procurement, and construction (EPC) services and operations and maintenance (O&M) services to companies operating in the telecom and solar energy industry. As of March 31, 2024, the company’s order book stands at Rs 1,747 crore and including the above orders, the company order book crossed Rs 3,000 crore.
The company has a market cap of Rs 6,291 crore. The stock gave multibagger returns of over 1,300 per cent from its 52-week low of Rs 41.37 per share. The shares of the company have an ROE of 37 per cent and an ROCE of 35 per cent. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.