Vijay Kedia-backed multibagger façade systems company bags new order worth Rs 45,17,00,000 from K. Raheja Corp Private Limited
The stock is up by 67 per cent from its 52-week low of Rs 141.05 and gave multibagger returns of over 500 per cent in 3 years.
On Tuesday, shares of Innovators Facade Systems Ltd surged 0.23 per cent to Rs 235.20 per share from its previous closing of Rs 234.65. The stock’s 52-week high is Rs 288.50 and its 52-week low is Rs 141.05.
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.
Innovators Facade Systems Limited has secured a significant work order valued at approximately Rs 45.17 crore (excluding taxes) for the design, development, supply, fabrication, and installation of facade window work for Tower B of the Modern Mill Project in Mumbai. This project, awarded by the renowned K. Raheja Corp Private Limited, represents a major win for Innovators Facade Systems and underscores the company's expertise in handling complex facade projects. The project is expected to be completed within approximately two years of commencement.
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The company has a market cap of Rs 443 crore and working capital requirements have reduced from 196 days to 126 days. According to half-yearly results, net sales increased by 14.4 per cent to Rs 114.76 crore and net profit increased by 102.2 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 67 per cent from its 52-week low of Rs 141.05 and gave multibagger returns of over 500 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.
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