Penny Stock Under Rs 10: Multibagger Drums and Barrel Manufacturer to Execute Bank Guarantee for Rs 24.05 Crore Order from Indian Oil Corporation!
The company’s current order book from PSU oil companies, including IOCL, BPCL, and HPCL, stands at Rs 381.53 crore
East India Drums & Barrels Manufacturing Ltd announced that it is set to execute a bank guarantee for orders received from Indian Oil Corporation Ltd. for supplies to their Mathura Refinery and other terminals, amounting to Rs 24.05 crore.
The company’s current order book from PSU oil companies, including Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd, stands at Rs 381.53 crore, with deliveries scheduled for completion by 2025-2026.
Established in 2013, EIDBL has become a trusted supplier of drums and barrels for PSU oil companies and prominent blue-chip companies such as Huber Group, Flint Group, DIC India Ltd., Sakata INX, Coromandel International, and UPL. The company boasts in-house technology and product development centers, producing innovative designs tailored to customer needs.
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East India Drums & Barrels Manufacturing Ltd manufactures a variety of mild steel (MS) barrels and drums for packaging products in industries such as petroleum, additives, chemicals, food, paint, and ink. The company operates three manufacturing facilities in India, located in Daman (Union Territory), Sonipat (Haryana), and Karjat (Maharashtra). Equipped with fully automated state-of-the-art plants, EIDBL ensures high-quality production, offering a range of sizes and dimensions. The company is BIS-approved and holds ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015 certifications, adhering to stringent safety, health, and environmental standards. To maintain product quality, EIDBL sources raw materials from top global steel suppliers such as POSCO Steel, Tata Steel Ltd., and AMNS.
Today, the company’s shares are trading at Rs 5.47 each on the BSE. However, trading is currently restricted due to the company being under the Insolvency and Bankruptcy Code (IBC) or recommencing post-IBC proceedings. The company's market capitalization stands at Rs 8.08 crore. Despite the trading restrictions, the shares have delivered a remarkable multibagger return of around 210 per cent over the past year.
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Investors must keep this penny stock on their radar.