Multibagger iron & steel stock under Rs 50 emerges as the lowest bidder (L1) for an order worth Rs 117 crore from BHEL & NTPC
The stock has delivered multibagger returns of 170 per cent in 2 years and a whopping 900 per cent in a decade.
Welspun Specialty Solutions Ltd (WSSL) has been selected as the preferred supplier (L1 bidder) by Bharat Heavy Electricals Ltd (BHEL) to provide seamless stainless steel boiler tubes for NTPC's Talcher 2x660 MW supercritical thermal power project. WSSL secured the contract after a thorough assessment process conducted by both BHEL and NTPC. The total value of the supply contract is approximately Rs 117 crore (including GST).
Welspun Specialty Solutions Ltd is engaged in the business of manufacturing alloy, stainless steel & its products such as seamless tubes & rolled products and hence the entire turnover is from alloy and SS steel & its products. As of March 31, 2024, the company order book stands at 4,111 MT valued at Rs 166.1 crore.
The company has a market cap of over Rs 2,200 crore and has delivered good profit growth of 26.9 per cent CAGR over the last 5 years. According to the Quarterly Results, the net sales increased by 10 per cent to Rs 151.27 crore and net profit skyrocketed by 397 per cent to Rs 40.03 crore in Q4FY24 compared to Q4FY23. In FY24, the net sales skyrocketed by 67 per cent to Rs 696.97 crore compared to FY23. The company reported a net profit of Rs 62.47 crore in FY24 compared to a net loss of Rs 13.74 crore in FY23, an increase of 555 per cent.
Also Read: Rs 1,00,00,000 revenue per annum: Penny stock at Rs 23.62 is in focus as company successfully agreed with Australian Broadcasting Corporation
As of March 2024, an ace investor, Dilip Kumar Lakhi owns a 23.04 per cent stake in the company. Today, shares of Welspun Specialty Solutions Ltd gained 2.9 per cent to an intraday high of Rs 43.47 while an intraday low was Rs 42. The stock’s 52-week high is Rs 46.03 and its 52-week low of Rs 25.85.
The stock has delivered multibagger returns of 170 per cent in 2 years and a whopping 900 per cent in a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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