Rs 5,254 Crore Order Book: Navratna PSU Telecom Company Bags New Order Worth Rs 24,50,00,000 From Haryana State Electronics Development Corporation Ltd
The stock is up by 59.50 per cent from its 52-week low of Rs 279 per share and gave multibagger returns of 250 per cent in 2 years.
RailTel Corporation of India Ltd. has secured a CAMC work order valued at Rs 24,50,00,000 (inclusive of taxes) from the Haryana State Electronics Development Corporation Limited. The order, awarded by a domestic entity, mandates a Performance Bank Guarantee (PBG) of 3 per cent of the total project value within 10 days of the Letter of Intent (LOI) issuance. The project is domestically sourced and is slated for completion by December 31, 2029.
Established in 2000, RailTel Corporation of India Ltd (RCIL) is a "Navratna" public sector enterprise under the Indian government, offering diverse telecom services including broadband, VPN, and data centres. With its extensive network spanning over 6,000 stations and 61,000+ km of fibre optic cables, RailTel reaches 70 per cent of India's population. This achievement has led to the prestigious "Navratna" status conferred by the Department of Public Enterprises, Ministry of Finance. This recognition underscores RailTel's substantial contributions to the Indian economy and its position as a leading force in telecommunications and information technology. The "Navratna" status empowers RailTel with greater autonomy, financial flexibility, and the capacity for larger investments, propelling it towards innovation and sustained growth. The company has a market cap of over Rs 13,000 crore.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Quarterly Results: The net sales increased by 41 per cent to Rs 843.49 crore and net profit increased by 7 per cent to Rs 72.64 crore in Q2FY25 compared to Q2FY24.
Annual Results: The net sales increased by 31.2 per cent to Rs 2,567.82 crore and net profit increased by 30.8 per cent to Rs 246.21 crore in FY24 compared to FY23.
As of September 30, 2024, the company’s order book stands at Rs 5,254 crore wherein Government Nomination Contribution is 22.4 per cent, Tender Contribution is 75.7 per cent and Private Contribution is 1.9 per cent. The stock is up by 59.50 per cent from its 52-week low of Rs 279 per share and gave multibagger returns of 250 per cent in 2 years.
Disclaimer: The article is for informational purposes only and not investment advice.