This mining and mineral micro-cap company secured an order worth Rs 8,48,87,000 from Vedanta!

The order pertains to exploration activities at Kalarangitta Chromite Mines in Jajpur and Katasahi Manganese Mines in Barbil, both situated in the state of Odisha.

In the latest update, this micro-cap company has received a Letter of Intent from Vedanta FACOR (Ferro Alloy Corporation Ltd.), a subsidiary of Vedanta Limited for exploration activities at Kalarangitta Chromite Mines in Jajpur and Katasahi Manganese Mines in Barbil, located in the state of Odisha. The total value of the contract is approximately Rs 848.87 Lakh plus GST, as applicable. This project is of short duration and is expected to be completed within 5 months.

Incorporated in 2006, Southwest Pinnacle Exploration Limited specializes in coal, minerals, and coal-bed methane exploration and drilling. SWPEL, an ISO 9001:2015 certified company, offers comprehensive services in mineral and unconventional energy resource exploration. Their expertise lies in drilling and exploring coal, minerals, and coal-bed methane.

Share Performance:

On Tuesday, the company's stock closed at around Rs 103 per share, with a market capitalisation of Rs 287.39 crore. The stock has delivered a negative return across the time frame.

Financial performance:

According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 45 crore compared to Rs 38 crore and a net profit of Rs 2.24 crore compared to Rs 3.33 crore. In FY24, the company reported a revenue of Rs 133 crore compared to Rs 124 crore, and a net profit of Rs 7 crore, compared to a profit of Rs 8 crore in the previous year.

Investors must keep this micro-cap stock on their radar.

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