This microcap Construction company received an order from East Coast Railway, stock jumps 5 per cent today
With just a market capitalization of Rs 44.41 Crore company bagged orders worth Rs 15.40 Crore.
ARSS Infrastructure Projects Limited in its latest exchange filing announced that the company has secured an order worth approximately Rs 15.40 crore from East Coast Railway Boudh.
The project involves the construction of a "Reinforced Earth (RE) Wall" designed to last for a period of 100 years. This wall is being constructed for the purpose of creating an approach to two railway overbridges (ROB-542 and ROB-489A). The locations of the construction are specified as "Railway Km.206-370" and "Km.180.380" on the Khurda Road-Bolangir new Broad Gauge (BG) Rail Link project of the East Coast Railway.
The construction work will take place between "Purunakatak" at Km.180 and "Boudh" at Km.207.0. These locations are part of the Khurda Road-Bolangir new BG Rail Link project. The award of the work order is confirmed through a Letter of Acceptance (LOA), dated August 07, 2023.
Today, the shares of ARSS Infra experienced a sharp rise. The stock opened at Rs 18.90, flat from the previous day's closing price of Rs 18.60. Throughout the intraday session, the stock surged by 5 per cent. Ultimately, the company's shares concluded the session at Rs 19.53, up by Rs 0.93 on the BSE.
The stock's 52-week highs and lows are recorded at Rs 27.51 and Rs 16.68, respectively. The market capitalization of the company is Rs 44.41 Crore.
When examining the company's financials, the company’s revenue increased by 39 per cent in FY23, going from Rs 289 crore to Rs 403 crore. The operating loss narrows from Rs 112 to Rs 9 crore, The net profit of the company in FY23 amounted to Rs 9 crore thanks to other income of Rs 18 crore reported by the company during the same period.
ARSS Infrastructure Projects Ltd specializes in the execution of diverse civil and infrastructure projects. The company is actively involved in construction operations, particularly excelling in railway construction ventures. Beyond railway expertise, the company extends its proficiency to other construction domains, including the creation of roads, highways, bridges, and irrigation projects.