Penny Stock Under Rs 25: Company Secures Order Worth Rs 11.82 Crore from Rithwik Projects for MMRDA Metro Line Work
The company’s shares have delivered an impressive return of over 75 per cent in the past year.
Incorporated in 1995, this micro-cap company that specializes in excavation and piling services has secured a significant work order today.
As per the company's press release, Manav Infra Projects is pleased to announce that it has received a piling contract from Rithwik Projects Private Limited for the MMRDA Metro Line No. 4 and 5 Car Depot at Kasheli. The total value of the project is approximately Rs 11,82,20,375 (Eleven Crores Eighty-Two Lakhs Twenty Thousand Three Hundred and Seventy-Five Only), exclusive of GST.
The company offers excavation, piling, road construction, and pre-stressed rock anchoring solutions. It boasts a comprehensive fleet of earth-moving equipment, including excavators, JCBs, loaders, piling rigs, rock breakers, and vehicles, which are available for rent across India. With operations in Maharashtra, Goa, Gujarat, Rajasthan, Karnataka, Telangana, and Andhra Pradesh, the company serves a wide geographical area.
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Share Performance
Today, the shares of Manav Infra Projects closed the day at around Rs 23.25 per share on the BSE. The current market capitalization stands at Rs 15.89 crore. The company’s shares have delivered an impressive return of around 75 per cent in the past year.
Financial Performance
The company doesn’t announce Quarterly Results, and in half-yearly results in September 2024, Manav Infra Projects reported a revenue of Rs 6.35 crore compared to Rs 5.52 crore. The company posted an operating profit of Rs 1.48 crore with a margin of around 23.31 per cent compared to Rs 0.99 crore with a margin of around 17.93 per cent. The company reported a net profit stood at Rs 0.21 crore for the period compared to a profit of Rs 0.09 crore.
Looking at the annual performance, the company generated a revenue of Rs 14.31 crore in FY24 compared to Rs 11.95 crore in FY23 representing a growth of around 20 per cent YoY. The operating profit for FY24 was Rs 3.30 crore compared to a profit of Rs 2.80 crore in FY23. The company reported a net profit of Rs 1.16 crore compared to a profit Rs 0.60 crore.
Disclaimer: The article is for informational purposes only and not investment advice.