Rs 2,388 crore order book: Multibagger penny stock under Rs 20; Company to consider and approve proposed amalgamation with Hill View Infrabuild Ltd
The stock is up by 13.26 per cent from its 52-week low of Rs 12.90 per share and gave multibagger returns of 1,350 per cent in 5 years.
On Thursday, shares of Salasar Techno Engineering Limited (STEL) jumped 5.95 per cent to Rs 14.61 per share from its previous closing of Rs 13.79 per share. The stock’s 52-week high is Rs 34.08 per cent and its 52-week low is Rs 12.90 per share.
Salasar Techno Engineering Limited informed that a meeting of the Board of Directors of the company is scheduled to be held on Monday, December 30, 2024, at 05:00 P.M. at its registered office situated at Kh. No. 265, 281 to 288, Parsaun, Jindal Nagar, Hapur, Uttar Pradesh - 201015 inter-alia, to consider and approve, the proposed amalgamation of Hill View Infrabuild Limited with Salasar Techno Engineering Limited.
Earlier, Salasar Techno's strategic acquisition of EMC Limited, a distinguished EPC player in power transmission and distribution, for a substantial Rs 178 crore, marks a pivotal moment in the company's growth trajectory. This strategic move, further solidified by a preferential issue of 290.77 crore, empowers Salasar Techno to actively participate in highly lucrative 765 kV transmission line and substation projects. By integrating EMC's extensive expertise and leveraging its valuable assets, Salasar Techno significantly enhances its capabilities to execute complex EPC orders, reinforcing its position in the industry.
Established in 2006, Salasar Techno Engineering Limited (STEL) is a leading provider of customised steel infrastructure solutions in India. They offer a comprehensive range of services, including engineering, design, fabrication, galvanization and installation. STEL's product portfolio includes various towers (telecom, power transmission, lighting, etc.), substations, solar structures, railway electrification components, bridges and custom steel structures. Moreover, they act as an EPC contractor, managing complete projects for rural electrification, power lines and solar plants. As of September 30, 2024, STEL has a strong order book of Rs 2,388 crore.
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According to Quarterly Results (Q2FY25), the revenue increased by 2.2 per cent to Rs 281.49 crore and net profit increased by 6.9 per cent to Rs 9.68 crore compared to Q2FY24 while in its half-yearly results (H1FY25), the net sales increased by 7.1 per cent to Rs 575.49 crore and net profit increased by 5 per cent to Rs 20.17 crore compared to H1FY24.
The company issued bonus shares in a 4:1 ratio to its shareholders on February 1, 2024 (ex-date). This means that for every one share a shareholder held, they received four additional shares. The stock is up by 13.26 per cent from its 52-week low of Rs 12.90 per share and gave multibagger returns of 1,350 per cent in 5 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.