Board likely to announce bonus shares next week: Waste management company bags new orders worth Rs 6,76,84,176 from Gujarat
The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 265 per share.
Urban Enviro Waste Management Limited has secured a significant contract from Anand Municipality in Gujarat. The scope of this work order encompasses comprehensive door-to-door waste collection and transportation services, implemented through the latest technological systems. This project, valued at Rs 4,55,00,976, will be executed over one year, with an option for extension.
In another key development, Urban Enviro Waste Management Limited has been granted a contract by Dwarka Municipality in Gujarat. This project involves a comprehensive waste management program, including door-to-door and gate-level collection from residential and commercial sources, as well as the transportation of collected waste using company-owned closed-body vehicles equipped with tipping mechanisms. The project will be carried out for two years, adhering to the solid waste management rules of 2016. This contract, is valued at Rs 2,21,83,200 for the two-year duration.
Furthermore, Urban Enviro Waste Management has scheduled a meeting of its Board of Directors on Wednesday, December 25, 2024, at the company's Registered Office. The primary agenda items include considering a proposal to issue bonus equity shares to the company's shareholders and transacting any other incidental or ancillary matters.
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Incorporated in 2011, Urban Enviro Waste Management Limited provides waste management solutions & municipal solid waste (MSW) management services. The company has a market cap of Rs 290 crore and has a good return on equity (ROE) track record: 3-year ROE 84 per cent.
According to the annual results, the net sales increased by 162 per cent to Rs 102 crore, operating profit increased by 125 per cent to Rs 18 crore and net profit increased by 250 per cent to Rs 7 crore in FY24 compared to FY23.
The shares of the company have an ROE of 52 per cent and a ROCE of 30 per cent. The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 265 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.