Vijay Kedia-backed multibagger façade systems company bags new order worth Rs 110,00,00,000 from Prestige Mulund Realty Pvt Ltd
The stock is up by 34 per cent from its 52-week low of Rs 141.05 and gave multibagger returns of over 300 per cent in 3 years.
On Friday, shares of Innovators Facade Systems Ltd surged 5.29 per cent to Rs 189 per share from its previous closing of Rs 179.50. The stock’s 52-week high is Rs 263.70 and its 52-week low is Rs 141.05.
Innovators Facade Systems Limited (IFSL) determines materiality for disclosures based on its significance to the financial performance, financial position, or cash flows of the Company. In line with this policy, IFSL has secured a substantial order from Prestige Mulund Realty Private Limited for the design, development, supply, fabrication, and installation of facade work, including stone cladding, for the Prestige Trade Centre project in Mulund, Mumbai. The order, valued at Rs 110 crore (including taxes), is expected to be executed within a 15-month timeframe from the commencement of work. This significant order aligns with IFSL's strategic growth plans and underscores its strong position in the facade solutions market.
Innovators Facade Systems Limited operates as a building finishing contractor. The company offers facade design, fabrication, and installation services. Innovators Facade Systems serves residential and commercial sectors in India.
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The company has a market cap of Rs 357 crore and working capital requirements have been reduced from 195 days to 126 days. According to half-yearly results, net sales increased by 14 per cent to Rs 114 crore and net profit increased by 60 per cent to Rs 10.21 crore in H2FY24 compared to H1FY24. In FY24, net sales increased by 18.7 per cent to Rs 215.11 and net profit increased by 81.2 per cent to Rs 15.26 crore compared to FY23.
An ace investor, Vijay Kedia owns 20,10,632 shares or a 10.66 per cent stake in this company. The stock is up by 34 per cent from its 52-week low of Rs 141.05 and gave multibagger returns of over 300 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.