Penny stock under Rs 25: This multibagger EPC infrastructure company bags new orders worth Rs 596.21 million; gains 110 per cent in just six months!

Shares of this company jumped more than 150 per cent in the last one year.

In a joint venture (JV), SALASAR Techno Engineering and RVNL secured a prestigious international contract worth Rs. 596.21 crore (approx.) from Energy Development Corporation Limited (Rwanda) for the Rwanda Transmission System Reinforcement project. This 18-month project involves designing, supplying, and installing 45.8 km of double-circuit 110 kV transmission lines. This win marks a significant step for the SALASAR-RVNL JV in the international infrastructure development space.

In Q3FY24, Salasar Techno posted a 26.2 per cent increase in its consolidated revenue at Rs 303.88 crore compared to Rs 240.80 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 37.92 crore, while the PAT of the company stood at Rs 16.76 crore, from Rs 10.69 crore last year's same quarter. The company has an order book of Rs 23,259 million order book as of Q3FY24.

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Salasar Techno is a provider of customized steel fabrication & infrastructure solutions in India. It provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization, and deployment. Salasar Techno’s product portfolio includes telecommunication towers, power transmission line towers, smart lighting poles, stadium lighting poles, solar module mounting structures, railway electrification (OHE), Road & Railway Over-Bridges (ROB) and customized galvanized & non-galvanized steel structures. The stock also delivered multibagger returns of over 150 per cent in the last one year.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.