Signet shines on bagging order worth Rs. 51.84 crore

Signet Industries Limited has bagged an order worth Rs. 51.84 crore from Tata Projects Limited (TPL) for supply of HDPE pipes for Hanotha Dam Irrigation project.

The company is expecting to execute the order in the current fiscal itself. As per its management, there is a huge market for the world class products in this segment. It plans to enhance and upgrade its manufacturing capabilities to cater to the growing demand.

The company's standalone revenue for Q1FY20 came in at Rs. 225.32 crore as against Rs. 216.77 crore in the corresponding quarter last year, registering 3.9 per cent yoy increase. EBITDA for the quarter rose by 4.5 per cent yoy to Rs. 18.53 crore as against Rs. 17.73 crore in the corresponding quarter last year, with a corresponding margin expansion of 4 bps. The PAT for the quarter came in at Rs. 4.51 crore as against Rs. 4.01 crore in the corresponding quarter last year, recording a yoy increase of 12.5 per cent.

Signet Industries is a diversified company engaged in manufacturing of plastic products and wholesale trade of chemicals and plastics. The company’s manufacturing segment is comprised of irrigation and plastic products.

On Wednesday, Signet Industries opened at Rs. 22.10. It was up by 10.9 per cent making intra-day high of Rs. 25. At the end of the session, it closed at Rs. 24.30 on BSE.