Penny stock under Rs 30: This multibagger EPC infrastructure company bags new orders worth Rs 2,000 million; gains 140 per cent in just six months!
Shares of this company jumped more than 200 per cent in the last one year.
Salasar Techno Engineering Limited, a leading provider of engineering and infrastructure solutions, has secured a major order worth over Rs 2,000 million from ZETWERK Business Private Limited. This significant agreement involves supplying 25,000 metric tonnes of solar structures to ZETWERK or its affiliates for export purposes. This win strengthens Salasar's order book and is expected to be completed within 12 months, contributing to healthy EBITDA margins. This news positions Salasar as a key player in the growing solar energy sector and highlights their expertise in manufacturing and supplying high-quality solar infrastructure.
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In Q3FY24, the company 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.
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 customised galvanized & non-galvanized steel structures. The stock also delivered multibagger returns of over 200 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.
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