Multibagger penny stock below Rs 50 with Rs 14,400 million order book: This small-cap engineering company reports stellar quarterly & half yearly results!
The stock gave multibagger returns of 350 per cent in just 3 years while the BSE Sensex Index is up by 55 per cent.
Salasar Techno Engineering Ltd announced its stellar Quarterly Results and half-yearly results for the fiscal year 2024 with robust order book. Here are the details:
Results: According to the quarterly results, the net sales increased by 6.4 per cent to Rs 27,535.26 lakh and the net profit increased by 20.5 per cent to Rs 905.16 lakh in Q2FY24 compared to Q2FY23. According to the half-yearly results, the net sales increased by 14.5 per cent to Rs 53,721.2 lakh and the net profit increased by 29.5 per cent to Rs 1,919.88 lakh in H1FY24 compared to H1FY23.
Order book: As of 30th September 2023, STEL has a strong diversified order book worth Rs. 14,400 million providing strong revenue visibility. STEL's order book comprises domestic EPC orders valued at Rs 10,090 million, international EPC orders worth Rs 2,110 million, orders under the heavy steel structure division worth Rs 1,300 million, monopoles worth Rs 530 million, and telecom tower and pole exports worth Rs 370 million. Additionally, STEL receives recurring monthly orders for telecom towers worth approximately Rs 300-350 million.
On Wednesday, shares of Salasar Techno Engineering Ltd gained 1.77 per cent to Rs 47.23 per share from its previous closing of Rs 46.71. The stock’s 52-week high is Rs 58.66 and its 52-week low is Rs 27.60
Established in 2006 as a tower manufacturer, Salasar Techno Engineering Ltd has emerged as a fast-growing steel structure manufacturer & EPC infrastructure company, providing services across the telecom, energy and railways sectors. In the financial year 2022-2023, the company conducted a stock split, reducing the share value from Rs 10 to Rs 1, with a record date set on June 27, 2022.
The stock gave multibagger returns of 350 per cent in just 3 years while the BSE Sensex Index is up by 55 per cent. Investors should keep an eye on this Small-Cap engineering stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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