Rs 800 Crore Order Book: Penny Stock Bags New Order from Maharatna PSU, Trades at 11x PE

This penny stock currently trades at a P/E ratio of 11x and has gained 11.5 per cent over the past month.

A penny stock is likely to be in focus during Tuesday’s trading session as it has secured an order from a Maharatna company controlled by the Government of India. This penny stock currently trades at a P/E ratio of 11x and has gained 11.5 per cent over the past month.

Konstelec Engineers Limited has received a new work order valued at Rs 9.17 crore (basic price) from Indian Oil Corporation Limited (IOCL). The project is to be executed at Vallur Station in Tamil Nadu and involves establishing a 33/6.9 Kv, 6 MVA ONAN indoor substation.

The scope of the contract includes design, engineering, supply, erection, installation, testing, and commissioning. The assignment falls under the CCCPL Project and is expected to be completed within eight months from the date of acceptance, which is noted as 12 April 2024 in the letter of acceptance.

The order is domestic in nature and has been awarded on the basis of standard contract terms agreed between IOCL and Konstelec Engineers.

Konstelec Engineers, listed on the National Stock Exchange under the symbol KONSTELEC, provides consulting engineering and EPC (Engineering, Procurement and Construction) services. The development represents continued activity in the infrastructure and power systems segment, particularly in collaboration with public sector undertakings.

Company’s total order book stands at Rs 800 crores, with Rs 485 crores unexecuted. The company has a robust pipeline of over Rs 1,000 crores in bids, with a win ratio of 10-15 per cent.

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