Under Rs 60: Microcap Company Signs EPC Contract Worth Rs 115.13 Crore – Stock Gains Around 9 Per cent with Volume Surge by 2.25 Times on Friday!
The company’s shares have delivered an impressive return of over 400 per cent in the past 3 years.
Incorporated in 2003, this micro-cap which operates across the iron and steel, power, real estate, and agriculture sectors has signed an EPC contract.
As per the press release, the company has signed and executed an EPC contract with SR Corporate Consultant Private Limited for the development of a 36.25 MWp solar power plant. The project is expected to be completed within 240 days from the date of financial tie-up, with an estimated development cost of Rs 115.13 crore.
On Friday, the shares of Vaswani Industries Ltd rallied over 8 per cent and finally closed at around Rs 56.77 per share on the BSE. The company’s current market capitalization stands at Rs 170.31 crore. Additionally, the shares have delivered an impressive return of over 70 per cent in Just 1 Year.
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As per the Quarterly Results, in Q1FY25 Vaswani Industries Ltd recorded a revenue of Rs 91.74 crore compared to Rs 93.55 crore. The operating profit stood at Rs 5.26 crore. The net profit stood at Rs 2.52 crore compared to a profit of Rs 2.76 crore. Looking at the annual performance, the company generated a revenue of Rs 389 crore in FY24. The operating profit for FY24 was Rs 22 crore with an operating profit margin of 6 per cent. The company reported a net profit of Rs 9 crore in FY24 compared to Rs 6 crore in FY23.
According to the company's shareholding pattern, the promoters hold a 58.33 per cent stake while public investors own 41.67 per cent of the shares.
Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.