Rs 209.60 crore order book: Ashish Kacholia-backed multibagger cable company bags new order worth Rs 35,07,57,712 from Power Grid Corporation of India
The stock gave multibagger returns of 465 per cent in just 1 year and a whopping 7,280 per cent in 3 years.
On Friday, shares of Advait Infratech Ltd gained 0.34 per cent and made a fresh new 52-week high of Rs 2,260 per share from its previous closing of Rs 2,252.35. At the closing bell, shares of the company were trading at Rs 2,139.80 per share, down 5 per cent.
Advait Infratech Ltd is pleased to announce that they have secured a Rs 35,07,57,712 (excluding GST) EPC order for live line installation of OPGW cable in the Ladakh region from Power Grid Corporation of India (PGCIL). This domestic contract involves the design, engineering, supply, testing, commissioning and overall service for the OPGW cable project with a completion timeframe of 25 months.
Earlier, Advait Greenergy Ltd, a subsidiary of Advait Infratech, landed contracts worth Rs 72.69 crore for two clean energy projects in India: a 30 MW solar power plant to be built in Khavda, Gujarat (EPC contract valued at Rs 59 crore) and a 1 MW green hydrogen plant to be constructed in Matar, Gujarat (EPC contract valued at Rs 13.69 crore)
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 2,100 crore with a 3-year stock price CAGR of 325 per cent. The company reported excellent numbers in its both Quarterly Results (Q4FY24) and annual results (FY24). The net sales increased by 46.2 per cent to Rs 59.73 crore and net profit increased by 106.2 per cent to Rs 7.23 crore in Q4FY24 over Q4FY23. 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 465 per cent in just 1 year and a whopping 7,280 per cent in 3 years. Investors should keep a close eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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