Heavy buying: This multibagger SME stock secures Rs 20.25 order from Vedanta Limited!

Shares of the company have gained more than 120 per cent in the last one year.

Krishca Strapping Solutions, one of the leaders in steel industry packaging, has secured a major 3-year contract worth Rs. 20.25 crore from Vedanta Limited. This marks Krishca's largest contract to date and their first collaboration with Vedanta. The contract involves securing finished goods trucks and containers with lashing, choking, and tarpaulin covers. This win strengthens Krishca's position for securing even larger contracts with government-owned companies (PSUs). Owning to the positive news, the stock gained over 13 per cent on Thursday.

To better serve eastern India, Krishca plans to establish a warehouse and office near Jharsuguda. This facility will manage existing and future contracts with a dedicated team, working closely with Vedanta's logistics team. This partnership positions Krishca as a key contributor to Vedanta's logistics and solidifies its leadership in the strapping industry, paving the way for future growth.

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In Q3FY24, the company posted a revenue of Rs 27.62 crore. The operating profit of the company stood at Rs 5.71 crore, while the PAT of the company stood at Rs 3.44 crore. The company has a PAT margin of 12.46 per cent and an EBITDA margin of 20.66 per cent.

Krishca Strapping Solutions Limited is a startup venture in the business of manufacturing Steel Straps, Seals, and providing other allied packaging solutions with the vision of providing total packaging solutions to the steel industry. It started its commercial production at its Chennai plant in March 2020. Crafting a high-calibre product at a good value for customers is the fundamental objective of the company. The company secures a substantial competitive edge by harnessing cutting-edge technology.

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