Rs 53,320 crore order book: This multibagger civil construction company reports stellar results; scrip up by 300 per cent in just 1 year!
The stock gave multibagger returns of 120 per cent in just 6 months and over 300 per cent in 1 year.
Power Mech Projects Limited (PMPL), one of the leading industrial services and construction company providing versatile and comprehensive services in the power and infrastructure sector, announced its Quarterly Results ended June 30, 2023. Details below:
According to the quarterly results, the net sales increased by 15.87 per cent to Rs 865.13 crore, the operating profit increased by 22.50 per cent to Rs 104.78 crore and the net profit increased by 21.36 per cent to Rs 50.59 crore in Q1FY24 compared to Q1FY23.
According to the annual results, the net sales increased by 32.86 per cent to Rs 3,601.19 crore and net profit increased by 53.05 per cent to Rs 215.46 crore in FY23 compared to FY22.
Recently, the company has been awarded a Mine Development & Operation (MOO) project, Tasra OCP located in Jharia Coal Fields, Dhanbad, Jharkhand, by Steel Authority of India Ltd for an estimated value of Rs 30,438 crore over the contract period. The project has been awarded to a consortium of Power Mech Projects Limited and PC Patel Infra, wherein PMPL is the consortium leader with a 74 per cent equity stake and PC Patel Infra will hold 26 per cent stake. Including this order, the company's current order book stands at Rs 53,320 crore.
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On Thursday, shares of PMPL surged 3.18 per cent to Rs 4,078.80 per share from its previous closing of Rs 3,949.30. The stock’s intraday high was Rs 4,113.65 and its intraday low was Rs 3,835.
The company has a market cap of Rs 6,074.04 crore. The stock gave multibagger returns of 120 per cent in just 6 months and over 300 per cent in 1 year. Investors should keep an eye on this Small-Cap civil construction company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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