Multibagger penny stock at Rs 24 with Rs 2,326 crore order book: This engineering company likely to receive orders worth Rs 200,00,00,000 from various clients!
The stock gave multibagger returns of 165 per cent in 1 year and a whopping 890 per cent in 5 years.
Today, the Indian stock market witnessed was down, with the BSE Sensex and NSE Nifty indices plunging by 0.60 per cent and 0.66 per cent respectively. Though the market was in red, one multibagger penny stock gained 2.1 per cent of Rs 24 per share from its previous closing of Rs 23.51 per share. The stock’s 52-week high is Rs 34.08 and its 52-week low is Rs 7.20.
The stock name is SALASAR TECHNO ENGINEERING LTD (STEL).
Established in 2006 as a tower manufacturer, Salasar Engineering Limited has emerged as a fast-growing Steel structure manufacturer & EPC infrastructure company, providing services across telecom, energy and railways sectors. The company has an order book of Rs 2,326 crore as of December 31, 2023, out of which Rs 1,879 crore are domestic EPC orders, Rs 221 are international EPC orders, orders under heavy steel structure division are worth Rs 110.7 crore, Monopoles orders are worth Rs 72.1 crore and exports orders (telecom towers and poles) are worth Rs 43.2 crore.
Salasar Techno Engineering Ltd is setting its sights on a booming opportunity: monopoles. With over 16 years of experience in crafting various kinds of towers and structures, the company is well-equipped to capitalize on the rising demand for these space-saving, efficient supports.
Monopoles, previously popular in the West, are now gaining traction in India due to their distinct advantages over traditional lattice towers. They require significantly less space, offer faster erection times, and are even considered eco-friendly thanks to their smaller footprints. Recognizing these benefits, various sectors like power corporations, highway authorities, and smart city projects are increasingly turning to monopoles.
Salasar Techno is a pioneer in this space, being among the first in India to design, test, and manufacture steel monopoles. Their decade-long expertise positions them as a preferred partner for national and international companies. Their commitment to quality is evident in their ISO certifications and a strong in-house engineering team that handles projects from conception to completion.
Recent ground-breaking deliveries further solidify their leadership:
- A 220kV D/C pole with a remarkably short peak, delivered to Tata Power.
- A 220kV M/C pole with the highest groundline reactions, supplied to UPPTCL.
- Design, manufacturing, and supply of a 66kV D/C multilevel pole for MPSEZ Utilities.
- Delivery of a 132kV M/C special pole to Bihar State Power Transmission.
Riding on all these factors, The Company is receiving a high volume of inquiries from big customers, already having orders worth ~Rs. 720 Mn from various prestigious clients like UPPTCL, Karnataka Power Corporation, TKG infrastructure etc and is confident of getting firm orders to manufacture and supply Monopoles amounting to ~Rs. 2,000 Mn within the next 12 months.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
The company plans to raise Rs 806.4 crore by issuing equity shares and convertible warrants to non-promoters and promoters. The Board of Directors also approved a bonus issue of 4 shares for every 1 share held by members on record as of February 1, 2024. This move is expected to inject substantial capital into the company and support its ambitious growth plans. Specific investors like North Star Opportunities Fund, Intuitive Alpha Investment Fund, and Coeus Global Opportunities Fund have been earmarked for significant share allocations.
According to Quarterly Results (Q3FY24), the net sales increased by 26.32 per cent to Rs 304.35 crore and net profit increased by 56.75 per cent to Rs 167.10 crore compared to Q3FY23 while in nine-month results (9MFY24), the net sales increased by 18.43 per cent to Rs 841.10 crore and net profit increased by 40.89 per cent to Rs 35.96 crore compared to 9MFY23. As of December 2023, promoters own 63.07 per cent, FIIs own 8.85 per cent and the public own 28.08 per cent.
The stock gave multibagger returns of 165 per cent in 1 year and a whopping 890 per cent in 5 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
For more such updates on the go, Click here to join our WhatsApp Channel
Related articles
-
Multibagger stock at Rs 26 with Rs 2,326 crore order book: This engineering company forms a JV with RVNL for an order worth Rs 173.99 crore from MPPTCL
-
Multibagger penny stock with Rs 1,440 crore order book: Board announced bonus shares and proposed merger with Hill View Infrabuild Limited!
-
Rs 1,440 crore order book: Multibagger penny stock hit fresh 52-week high on January 04; Board announces bonus shares!
-
Multibagger penny stock below Rs 60 with Rs 1,440 crore order book: This small-cap engineering company bags new order worth Rs 364 crore from TANGEDCO!
-
Multibagger penny stock below Rs 50 with Rs 14,400 million order book: This small-cap engineering company reports stellar quarterly & half yearly results!
-
4:1 bonus shares in FY24; Rs 2,460 crore order book & FIIs bought 3.27 per cent stake: Multibagger engineering stock under Rs 21 surges over 4 per cent!
-
4:1 Bonus Share & FIIs bought 3.27 per cent stake: Multibagger penny stock at Rs 19.97 with Rs 2,326 crore order book hit upper circuit on May 14
-
4:1 bonus shares & Rs 2,326 crore order book: This multibagger engineering company emerged as the highest bidder in the acquisition of EMC Ltd
-
Multibagger penny stock at Rs 22: This electrical equipment company bags new orders worth Rs 40,00,00,000 in West Bengal
-
Multibagger penny stock at Rs 34 with Rs 2,326 crore order book: Heavy buying in this engineering stock, hit back-to-back upper circuits & 52-week highs!
-
Multibagger penny stock at Rs 31 with Rs 1,400 crore order book: This engineering company reports stellar results and allotted 1,26,28,21,120 shares by way of bonus issue!
-
Back-to-back upper circuits and 52-week highs in this multibagger penny stock after a 4:1 bonus share; order book stands over Rs 1,400 crore
-
Rs 33,700 crore order book: LIC-backed multibagger stock below Rs 70 hit fresh 52-week high on January 30; wins Rs 1,719.5 crore arbitration claim against NHAI!
-
Keep an eye on this multibagger small-cap stock that was locked in upper circuit on January 29; gains over 100 per cent YTD and announces bonus shares & fund-raising plan!
-
Multibagger penny stock under Rs 100 & Rs 2,845 crore order book: This civil construction company bags new order worth Rs 416 crore from Capgemini Technology Services India Ltd!
-
4:1 Bonus Share: Multibagger penny stock under Rs 100 with Rs 1,440 crore order was locked in 20 per cent upper circuit on January 20
-
Heavy buying witnessed: Multibagger penny stock hit 5 per cent upper circuit with robust order book of Rs 361 crore & FIIs increase stake!
-
FIIs bought 1,71,80,366 shares of this multibagger penny stock: Company increased authorized share capital to Rs 80,00,00,000 and issue of equity shares to non-promoter on preferential basis!
-
Multibagger penny stock under Rs 100: This micro-cap company bags new order worth Rs 1,10,00,000 from OJU Subansiri Hydro Power Corporation Pvt Ltd!
-
Multibagger penny stock under Rs 80: This micro-cap company bags new order worth Rs 110,61,79,200 from Uttar Pradesh Development Systems Corporation Ltd!