Civil construction company bags new order worth Rs 45,25,39,846.92 from Odisha Mining Corporation Ltd
The stock is up over 70 per cent from its 52-week low of Rs 148 per share.
SRM Contractors Limited secured a contract valued at Rs 45,25,39,846.92 from Odisha Mining Corporation Ltd (OMC) for the construction of a Gabion Wall at the South Kaliapani Chromite Mine. This Mechanically Stabilized Earth Wall with Gabion Facia is designed to improve the holding capacity of the overburden dump, a key element for both operational efficiency and environmental safety at the mine site. The project is expected to be completed within 12 months.
Earlier, the company secured multiple significant projects from the National Highway Authority of India (NHAI). The company has been awarded two EPC projects: one worth Rs 100.45 crore for slope protection on NH55 in Himachal Pradesh and another worth Rs 278.48 crore for upgrading NH-244 in Jammu and Kashmir. Additionally, SRM Contractors has secured a 5-year PBMC contract valued at Rs 171.23 crore for strengthening and maintenance works on the Jetpur-Somnath highway in Gujarat.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
SRM Contractors Ltd, founded in 2008, is an engineering construction and development company focused on building roads (including bridges), tunnels, and stabilizing slopes, primarily in Jammu & Kashmir and Ladakh. They are ISO 9001:2015 certified and hold a Class A contractor registration with the Public Work (R&B) Department in Jammu & Kashmir. The company can bid on government-funded projects up to 30,000 lakhs for roads and bridges and 50,000 lakhs for tunnels (EPC contracts). They take on projects as an EPC contractor, on an item-rate basis, or through joint ventures with other construction companies. SRM Contractors Ltd also works as a subcontractor for major infrastructure companies like HCC Ltd, Gammon and Patel Engineering Ltd.
The company has a market cap of over Rs 500 crore with an ROE of 28 per cent and an ROCE of 28 per cent. The stock is up over 70 per cent from its 52-week low of Rs 148 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.