Rs 5,000 million order book: This multibagger industrial product company bags new orders worth Rs 6,582 million; hits fresh 52-week high!

Shares of the company have gained about 60 per cent in the last six months.

Shares of Tega Industries Limited made a fresh 52-week high of Rs 1,100.00 on Friday, gaining about 1.83 per cent. The stock has gained over 60 per cent in the last six months.

On Friday, the company informed in the exchange filing that it has entered into an agreement with the largest copper mine in Europe, to supply, install and manage the company’s Mill and Non-Mill products for the mineral processing plant of the mine. The Agreement covers supply, maintenance, and other services for a period of five (5) + one (1) years from January 1, 2024.

The Agreement is linked to production and the minimum amount the customer is expected to spend during the six (6) year term of the Agreement is estimated to be Rs 6,852 million.

Furthermore, the company declared the results for Q1FY24, the company reported a revenue of Rs 268.07 crore which grew by 9.67 per cent YoY. The operating profit of the company stood at Rs 47.47 crore, growing 10.66 per cent YoY while the PAT of the company showed a degrowth of 7.14 per cent YoY staying at Rs 20.49 crore.

Tega Industries Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 492.60 on August 11, 2022, to Rs 1079.20 on August 11, 2023, an increase of about 110 per cent in one year holding period.

Tega Industries is a leading manufacturer and distributor of specialized, critical, and recurring consumable products for the global mineral beneficiation, mining, and bulk solids handling industry. Globally, Tega Industries are the second largest producer of polymer-based mill liners, based on revenues for the year 2020.

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