JMC Projects bags orders worth Rs. 616 crore; stock surges

JMC Projects India Limited has bagged new orders worth Rs. 616 crores. The orders include residential and commercial projects in South India.

Company’s management has informed that these new orders are confined to its buildings & factory (B&F) business. Most of the orders are repetitive business from the existing clients.

Earlier, in the month of March, company had secured orders worth Rs. 547 crore. The orders included water pipeline project for Rs. 315 crore and residential & commercial projects for Rs. 232 crore.

JMC’s order book as on March 31, 2019 stood at Rs. 9,962 crore and the order inflows during FY19 were worth Rs. 5,629 crores.

In FY19, the company reported revenue growth of 18 per cent yoy while the net profit during the year was up 33.9 per cent yoy. For FY19, company’s Board of Directors recommended dividend of Rs. 0.70 per equity share.

On Thursday, the stock of JMC Projects closed at Rs. 118.25. On Friday, it opened at Rs. 122 and surged by 13.6 per cent touching Rs. 134.40 level.