Rs 27,208 Crore Order Book: This Railway Infra Company Bags Order Worth Rs 750 Crore from Rail Vikas Nigam; Stock Gains Over 240 per cent in Just 1 Year!
The company’s shares have delivered an impressive return of around 700 per cent in the past 2 years only.
Ircon International Limited (IRCON) began operations in 1976 primarily as a railway construction company and has since diversified its portfolio. Since 1985, it has evolved into an integrated engineering and construction PSU, specializing in large-scale, technologically complex infrastructure projects across various sectors such as railways and highways.
Ircon International Limited (IRCON) has been awarded a Letter of Acceptance (LOA) from Rail Vikas Nigam Limited for the design, supply, installation, testing, and commissioning of the broad-gauge ballastless track (BLT), supply of ballast, and installation of the track (excluding supply of rails and track sleepers) from chainage 6+015 (FLS) to 125+200 (FLS) for the New Broad-Gauge line between Rishikesh and Karanprayag (125km) in Uttarakhand, India.
This project will be executed through a Joint Venture known as IRCON-PARAS-PCM (JV), with a shareholding ratio of 60:25:15, respectively, involving IRCON, Paras Railtech Private Limited, and PCM Strescon Overseas Ventures Limited.
The contract is slated for completion within 42 months. It involves a substantial order valued at Rs 750,82,79,068.08 (Rupees Seven hundred and Fifty Crores Eighty-Two Lakhs Seventy-Nine Thousand Sixty-Eight and paisa Eight only), inclusive of GST.
Ircon International Limited (IRCON) shares are trading at Rs 290.75 per share. The company’s current market capitalization stands at Rs 27274.96 crore. The stock has delivered a return of over 245 per cent in just 1 year.
As per the Quarterly Results, in the fourth quarter of FY24, Ircon International Limited (IRCON)recorded a revenue of Rs 3743 crore. The operating profit for Q4 FY24 stood at Rs 273 crore while the net profit stood at Rs 247 crore.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.