Stock hit upper circuit after bagging order worth Rs 1,28,00,000 from Bharat Heavy Electricals Ltd
The company has a market cap of Rs 82.2 crore and the stock is up by 57 per cent from its 52-week low of Rs 83.03 per share.
On Wednesday, shares of Indobell Insulations Ltd hit a 5 per cent upper circuit to Rs 130.45 per share from its previous closing of Rs 124.25 per share. The stock also made a new 52-week high of Rs 166.75 per share while its 52-week low is Rs 83.03 per share.
Indobell Insulations Limited has been awarded a significant domestic order valued at Rs 1.28 crore for the Supply and Application of Thermal Insulation for the Turbine Island Package (TIP) by Bharat Heavy Electricals Limited (BHEL). The project entails both the supply and application of the insulation materials and is scheduled for completion by November 8th, 2027. This new contract underscores Indobell's capabilities in providing thermal insulation solutions for critical industrial applications within the domestic market.
About the Company
Indobell Insulations Ltd., established in 1972, is a prominent manufacturer of insulation products. Their core offerings encompass mineral and ceramic fiber nodules, along with prefabricated thermal insulation jackets. The company's expertise extends beyond manufacturing, encompassing a comprehensive range of services including consultancy, engineering, fabrication, material supply, installation, supervision, and project management. Their clientele spans diverse sectors such as power plants, railways, aeronautics, and navigation.
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Indobell Insulations boasts a significant market presence, with 66.29 per cent of its FY24 revenue generated domestically, primarily from Tamil Nadu, Uttarakhand, and West Bengal. Furthermore, the company enjoys a substantial export market, with 33.71 per cent of its revenue derived from international sales, particularly to countries like Switzerland, the USA, Taiwan, Germany, and South Korea. While the company maintains a diverse customer base, it exhibits a moderate degree of customer concentration, with the top 5 customers contributing to 86 per cent of its overall revenue.
The company has a market cap of Rs 82.2 crore and the stock is up by 57 per cent from its 52-week low of Rs 83.03 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.