Multibagger stock backed by Ashish Kacholia executing Tankage projects for IOCL and NOCL, do not miss this gem!
Ashish Kacholia the ace investor of India has 1.77 per cent of shareholding in this company.
Likhitha Infrastructure Limited operates the business of laying gas supply pipe lines and irrigation canals, building bridges over the canals, and related maintenance works.
The company's order book is growing, and the total order book value as of September 30, 2023, is approximately Rs 1,675 crores. In Q2 FY24, the company received major awards for cross-country pipelines along with associated facilities worth Rs. 155.87 crores (excl. GST) from Bharat Petroleum Corporation Ltd. and another cross-country pipeline along with associated facilities worth Rs 235.5 crores (excl. GST) from GAIL (India) Ltd. The order book breakdown is as follows: Rs 1,230 crore, which is 73 per cent is from Cross-Country Pipeline Projects; Rs 325 crore, which is 20 per cent from City Gas Distribution; and Rs 120 crore, which is 7 per cent is from tankage.
In Q2FY24, the company delivered robust financial performance with a notable 31 per cent year-on-year growth in revenue, reaching Rs 108.6 crore. EBITDA also exhibited positive momentum, increasing by 9 per cent to Rs 22.92 crore compared to the same period last year. The Profit After Tax (PAT) saw a commendable 7per cent growth, reaching Rs 15.57 crore.
The company is currently executing tankage projects for IOCL and NOCL in Nepal and expects to bid on more tankage projects in the future. Additionally, the Company is exploring opportunities in the Middle East, Africa, and other similar countries where there is a significant demand for pipeline infrastructure companies.
To further expand its presence, Likhitha Infrastructure Limited has registered a Joint Venture in the Kingdom of Saudi Arabia and is looking forward to bidding on and executing projects in the region.
The stock has demonstrated impressive performance over various time frames, showcasing significant returns for investors. Over the past 1 year, it achieved a remarkable growth rate of 44.51 per cent. Looking at a slightly longer horizon, the stock has delivered multibagger returns of 273.60 per cent over the past 3 years, reflecting sustained positive momentum. The all-time performance is even more remarkable, with a substantial growth of 324.69 per cent, underscoring the stock's ability to generate substantial value for investors over the long term. Ashish Kacholia the ace investor of India has 1.77 per cent of shareholding in this company.
Disclaimer: The article is for informational purposes only and not investment advice.
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