Under Rs 200: This Microcap Iron & Steel Company Secures Rs 5,01,00,000 Order for Castable Materials for 350 TPD DRI Plant Expansion!
Incorporated in 2003, Chaman Metallics Ltd specializes in the manufacture and sale of iron and steel products. As part of the GS Group, the company produces ISI Grade MS Ingots and TMT Bars. Through its sponge iron business, Chaman Metallics caters to the metallic needs of steel producers in specific regions.
Read Penny Stock Under Rs 5: Company Bags Order Worth Rs 280 million for its Agro and Infrastructure divisions, Stock Gains Over 450 per cent!
Today, the company has announced that it has received an order from Passary Minerals Madhya Private Limited for the supply of castable materials for a 350 TPD DRI Plant expansion project. The order is expected to be completed within approximately 15-20 days from the date of issuance. The total value of the order is around Rs 5.01 crore, including taxes.
On Friday shares of Chaman Metallics Ltd closed at around Rs 66.10 per share. The company’s current market capitalization stands at Rs 159.53 crore.
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As per the Quarterly Results, in Q4 FY24, Chaman Metallics Ltd recorded a revenue of Rs 97 crore. The operating profit for Q4 FY24 stood at Rs 6 crore along with an operating profit margin of 6 per cent. The net profit for Q4 FY24 stood at Rs 4 crore compared to Rs 10 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 189 crore in FY24. The operating profit for FY24 was Rs 18 crore with a net profit of Rs 13 crore compared to a net profit of Rs 17 crore in FY23.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.