Penny Stock Under Rs 10: This Micro-cap Infrastructure Company Has Received a Rs 63.52 Crore Work order from Shree Infracon Private Ltd (SIPL)
With a PE ratio of 19.4, the company trades at a discount compared to the industry PE of 31. The company has ROCE of 12.3 per cent and ROE of 7.94 per cent.
Nila Infrastructures Limited has received a Rs 63.52 crore work order from Shree Infracon Private Limited (SIPL) for finishing work in the slum redevelopment project "Ramapir no Tekro" at Wadaj, Ahmedabad. This project was initially awarded to SIPL by Ahmedabad Municipal Corporation (AMC) under the Slum Rehabilitation and Redevelopment Policy 2013 as part of the Pradhan Mantri Awas Yojana.
The finishing work includes both material and labor for the construction of 1,694 residential flats. The contract also includes a seven-year operation and maintenance defect liability period for all finishing work. The project is expected to be completed within 10 months.
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Nila Infrastructures had previously announced its involvement in this project on September 5, 2023, when it was awarded the main construction contract. This latest order marks another milestone in the company’s ongoing contribution to affordable housing and urban development initiatives.
Incorporated in 1990, Nila Infrastructures Ltd is involved in the construction and development of infrastructures projects.
In the Quarterly Results of December 2024, the company reported a revenue of Rs 52.34 crore, reflecting a YoY growth of 52.55 per cent compared to Rs 34.31 crore in December 2023. The operating profit stood at Rs 5.40 crore, marking a 33.00 per cent increase from Rs 4.06 crore in the same quarter last year. The profit after tax (PAT) increased by 52.96 per cent to Rs 4.91 crore from Rs 3.21 crore in December 2023.
In FY24, the company posted a revenue of Rs 184.65 crore, registering a 60.44 per cent growth compared to Rs 115.09 crore in FY23. The net profit for the year stood at Rs 11.25 crore, compared to a net loss of Rs 0.45 crore in the previous financial year.
With a PE ratio of 19.4, the company trades at a discount compared to the industry PE of 31. The company has ROCE of 12.3 per cent and ROE of 7.94 per cent.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.