Rs 1,430 crore order book: This multibagger railway wagons company received RDSO approval to manufacture 2,400 wagons in 1 year!
The stock is up by 31 per cent in 3 months and gave multibagger returns of 120 per cent in 6 months.
Today, one of the Top Gainers on BSE, shares of Oriental Rail Infrastructure Ltd surged 2 per cent upper circuit to Rs 83.64 per share from its previous closing of Rs 82. The shares of the company saw a spurt in volume by more than 2.21 times on BSE. In the recent trading sessions, the stock is hitting back-to-back upper circuits.
Oriental Rail Infrastructure Ltd inform you that Oriental Foundry Private Limited, a wholly-owned subsidiary of the company has received Research Design & Standard Organization (RDSO) approval for the enhancement of its manufacturing capacity of Wagons up to 2400 Wagons per year. Also, Oriental Foundry Private Limited, a wholly-owned subsidiary of the company has met the requirements of infrastructure, manufacturing, testing and quality assurance for the manufacturing of railway wagons
The company's Quarterly Results showed a significant increase in both net sales and net profit. Net sales skyrocketed by 131 per cent to Rs 92.81 crore in Q1FY24, compared to Q1FY23. Net profit also increased by 46 per cent to Rs 5.44 crore in Q1FY24.
The company's net sales have been on a steady increase over the past year. In FY23, net sales increased by 88.37 per cent from Rs 172.60 crore in FY22 to Rs 325.13 crore in FY23. The company also reported a net profit of Rs 3 crore in FY23, compared to a net profit of Rs 16 crore in FY22.
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Additionally, Oriental Rail Infrastructure announced that the company along with its subsidiary company (Oriental Foundry Private Ltd) has total orders in hand of approx. Rs 1,430 crore.
Oriental Rail Infrastructure Ltd (BSE Scrip Code: 531859) is engaged in the manufacturing, buying, and selling of all types of recron, seat & berth, compreg boards and is also engaged in trading timber woods and all its products. The company has a market cap of Rs 450 crore.
The stock is up by 31 per cent in 3 months and gave multibagger returns of 120 per cent in 6 months. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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