Multibagger penny stock under Rs 10: Drums & barrels manufacturer bags new orders worth Rs 60.35 crore from Bharat Petroleum Corporation Ltd

The company has a market cap of Rs 9 crore and the stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 1.47 per share.

East India Drums & Barrels Mfg. Ltd has secured significant orders from Bharat Petroleum Corporation Ltd for the supply of various drums and barrels. These orders include a supply of 1,02,000 210 MS Barrels to the Loni Plant, valued at Rs 18.82 crores and 1,38,000 210 MS Barrels to the Wadilube Plant and C-Lube, valued at Rs 23.36 crores. Additionally, the company has been awarded a contract to supply 2,00,000 drums with a capacity of 165 litres each to the Khalapur Terminal, valued at Rs 18.17 crores. The supplies for these orders are scheduled to commence in the second week of November 2024.

East India Drums & Barrels Manufacturing Ltd. (EIDBL) is a leading MSME unit specializing in the production of high-quality drums and barrels. Since its inception in 2013, EIDBL has consistently supplied reliable packaging solutions to major public sector oil companies like Indian Oil, Bharat Petroleum, and Hindustan Petroleum, as well as renowned private sector companies such as Huber Group, Flint Group, and DIC India. EIDBL's commitment to innovation is evident in its in-house technology and product development centres, which continuously strive to design cutting-edge products.

The company's state-of-the-art manufacturing facilities, located in Daman, Sonipat, and Karjat, produce a wide range of drums and barrels in various sizes and capacities to meet the diverse needs of industries like petroleum, chemicals, food, and paints. EIDBL's adherence to international quality standards, including ISO 9001, 45001, and 14001, ensures the safety, health, and environmental sustainability of its operations. By sourcing raw materials from global leaders like POSCO Steel and Tata Steel, EIDBL guarantees the highest quality of its products. As a testament to its reliability and security standards, EIDBL is one of the first companies to be registered as a packaging supplier with the Security Printing and Minting Corporation of India Limited, a government organization under the Ministry of Finance. This recognition underscores EIDBL's commitment to providing secure and compliant packaging solutions to its valued customers.

On Tuesday, shares of East India Drums and Barrels Manufacturing Ltd hit a 5 per cent upper circuit and made a new 52-week high of Rs 6.32 per share. The company has a market cap of Rs 9 crore and the stock gave multibagger returns of over 300 per cent from its 52-week low of Rs 1.47 per share.

Disclaimer: The article is for informational purposes only and not investment advice.