Ashish Kacholia Bought 2,88,185 & Rs 209.60 Crore Order Book: Cable Stock to Keep Under Radar as Company Received Approval from Registrar Of Companies for Change of Name
The stock gave multibagger returns of 350 per cent in just 1 year and a whopping 3,800 per cent in 3 years.
On Tuesday, shares of Advait Infratech Ltd gained 2 per cent to an intraday high of Rs 1,725 per share from its previous closing of Rs 1,690.60 per share.
The company has received approval from the Registrar of Companies for Change of Name from Advait Infratech Limited to “Advait Energy Transitions Limited” vide Certificate of change of name dated October 21, 2024.
Additionally, Advait Energy Holdings AS, a wholly owned subsidiary of the Company, has made a further investment in TECO 2030 AS, a Norwegian-based clean-tech listed company. This investment brings Advait's total shareholding in TECO 2030 AS to 4.89%. This strategic move aligns with the Company's MOU with TECO 2030 AS, which aims to collaborate on developing, manufacturing, and commercializing TECO 2030 Fuel Cell Technology in India and the SRAAC Market.
Earlier, Advait Infratech Limited has secured two significant contracts in recent times. The company has been awarded a contract by SECI to establish 200 MW of alkaline electrolysers manufacturing capacity in India, valued at approximately Rs 296 crore. This project is part of the SIGHT Scheme and will be completed in 5 years. Additionally, Advait Infratech has been awarded an EPC contract by DGVCL for the installation of MVCC in Southern Gujarat, valued at Rs. 20,32,50,440. This turnkey contract involves the supply, installation, testing, and commissioning of 11 KV 55mm2 AAAC MVCC and its accessories. The contract is expected to be completed within 12 months from LOI.
Advait Infratech Ltd is engaged in providing products and solutions for power transmission, power substation, and telecommunication infrastructure fields. Also, it operates with various verticals such as turnkey telecommunication projects, installation of power transmission, telecom products, etc. As of March 31, 2024, the company has a Rs 209.60 crore order book.
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In Q1FY25, an ace investor, Ashish Kacholia bought 2,88,185 shares or 2.67 per cent in the company at Rs 1,388 per share (face value is Rs 10) aggregating to Rs 40,00,00,780 via preferential issue of shares.
Regarding the financials, Advait Infratech has a market cap of over Rs 2,000 crore with a 3-year stock price CAGR of 305 per cent. The company reported excellent numbers in its both Quarterly Results (Q1FY25) and annual results (FY24). The net sales increased by 118 per cent to Rs 59.81 crore and net profit increased by 265 per cent to Rs 5.36 crore in Q1FY25 over Q1FY24. The net sales increased by 100.4 per cent to Rs 208.85 crore and the net profit increased by 159.3 per cent to Rs 21.88 crore in FY24 over FY23.
The shares of the company have an ROE of 38 per cent and an ROCE of 38 per cent. The stock gave multibagger returns of 350 per cent in just 1 year and a whopping 3,800 per cent in 3 years. Investors should keep a close eye on this small-cap cable stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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