96,000 Metric Tons Capacity: This multibagger engineering company successfully installs and commences operation of new zinc galvanization plant!
The stock gave multibagger returns of 420 per cent in just 3 years while the BSE Sensex Index is up by 76.59 per cent.
Salasar Techno Engineering Ltd, a leading player in the engineering, designing, procurement, fabrication, galvanization, and EPC sectors, announced the successful installation and commissioning of its new Zinc Galvanization Plant (GI Plant). This state-of-the-art facility boasts an annual capacity of 96,000 metric tons and has commenced operations at its Unit - III, located in Village - Khera P.O. Pilkhuwa, Tehsil- Dhaulana, Distt - Hapur, Uttar Pradesh, India, with effect from September 25, 2023.
The new Zinc Galvanization Plant represents a significant milestone in Salasar Techno Engineering Limited's journey of growth and expansion. With its cutting-edge technology and enhanced capacity, the plant being among one of the largest in the world, is poised to play a pivotal role in meeting the growing demand for high-quality galvanized products in various industries, especially for transmission line monopoles & large size structures including infrastructure, construction, automotive, and more.
Earlier, the company was awarded a prestigious contract worth USD 9.40 million equivalent to Rs 752.38 million by Energy Development Corporation Ltd. for the Rwanda Transmission System Reinforcement and Last Mile Connectivity project. This order is in line with the management's vision to provide exceptional and cutting-edge EPC solutions across international markets. The order will be completed in 18 months from LOI.
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On Monday, shares of Salasar Techno Engineering Ltd plunged 0.47 per cent to Rs 51.09 per share from its previous closing of Rs 51.33. The stock’s 52-week high is Rs 58.66 and its 52-week low is Rs 27.60
Established in 2006 as a tower manufacturer, Salasar Techno Engineering Ltd has emerged as a fast-growing steel structure manufacturer & EPC infrastructure company, providing services across the telecom, energy and railways sectors. The company reported amazing numbers in its Quarterly Results and annual results. In the financial year 2022-2023, the company conducted a stock split, reducing the share value from Rs 10 to Rs 1, with a record date set on June 27, 2022.
The stock gave multibagger returns of 420 per cent in just 3 years while the BSE Sensex Index is up by 76.59 per cent. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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