Salt Manufacturer Bags New Order Worth Rs 21,86,39,777.04 from Food & Consumer Affairs Department, Jharkhand Government
The stock is up by 53 per cent from its 52-week low of Rs 123.50 per share.
Goyal Salt Limited has secured a significant work order valued at Rs 21,86,39,777.04 from the Food & Consumer Affairs Department, Jharkhand Government. This substantial contract marks another major milestone for the company.
The work order entails the distribution of 1,99,125.48 quintals of free-flow, refined iodized salt to priority households and Antyodaya Anna Yojana beneficiaries under the National Food Security Act. Additionally, it covers green ration card holders under the Jharkhand State Food Security Scheme. This domestic contract, valued at Rs 21,86,39,777.04, must be completed within 45 days of receipt.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
Goyal Salt Limited is a Rajasthan-based company established in 2010. Specializing in salt refinement, the company procures raw salt from underground brine sources within the state. Their production process yields a range of high-quality salt products including triple-refined free-flow iodized salt for household consumption, industrial salt for various applications, fortified salt enriched with essential nutrients, and triple-refined half-dry salt. The company has a market cap of Rs 338.31 crore.
On Friday, shares of Goyal Salt Ltd gained 2.58 per cent to Rs 189 per share from its previous closing of Rs 184.25. The shares of the company have an ROE of 58 per cent and an ROCE of 50 per cent. The stock is up by 53 per cent from its 52-week low of Rs 123.50 per share.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: This EPC contractor bags a new order worth Rs 28.50 crore from Arcelor Mittal Nippon Steel India Limited