Multibagger penny stock below Rs 85 with Rs 899.19 crore order book: Company bags new order worth Rs 59.3 crore for steel eco-pickling and marine loading arms
The stock gave multibagger returns of 110 per cent from its 52-week low of Rs 39.79 per share, 2,350 per cent in 3 years and a whopping 18,500 per cent in 5 years.
Lloyds Engineering Works Limited (LEWL) has secured substantial orders for Steel Eco-Pickling systems and Marine Loading Arms, totalling over Rs 59 crore. This marks a significant milestone for the company as it strengthens its market position in specialized engineering products. The Steel Eco-Pickling systems order, valued at Rs 50 crore, demonstrates LEWL's technological prowess and expertise in this niche market. Additionally, the Marine Loading Arms order, worth Rs 9.3 crore, further solidifies the company's presence in the specialized engineering sector. These orders not only highlight LEWL's first-mover advantage in India but also offer promising growth opportunities due to the niche market demand and associated enhanced margins.
Additionally, the company has made significant strides in innovation and technology partnerships. Earlier in FY24, the company signed strategic agreements with The Material Works, Ltd. (TMW) to acquire the cutting-edge Eco Pickled Surface (EPS Gen 4) technology. Additionally, LEWL entered into a partnership with TB Global Technologies Ltd (TBG) to introduce Marine Loading Arms and Swivel Joints, pioneering products in the Indian market. These strategic collaborations demonstrate LEWL's commitment to providing world-class engineering solutions and maintaining its leadership position in the industry.
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About the Company
Lloyds Engineering Works Ltd, established in 1974, designs, manufactures and commissions heavy equipment, machinery and systems for various sectors including hydrocarbon, oil & gas, steel, power, nuclear, and marine. They offer a diverse range of products like pressure vessels, heat exchangers, steel mill equipment, and marine loading arms, catering to a broad clientele and operating out of four workshops in Thane, Mumbai. They are continuously expanding their capacity and hold various industry approvals.
The company has a market cap of over Rs 9,000 crore and as of June 30, 2024, the order book stands at Rs 899.19 crore. The stock gave multibagger returns of 110 per cent from its 52-week low of Rs 39.79 per share, 2,350 per cent in 3 years and a whopping 18,500 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.