Rs 166.10 crore order book: Multibagger iron & steel stock at Rs 49 hit 52-week high; Company bags new order worth Rs 117.17 crore from BHEL
The stock has delivered multibagger returns of 215 per cent in 2 years and a whopping 865 per cent in a decade.
Today, one of the Top Gainers on BSE, shares of Welspun Specialty Solutions Limited (WSSL) jumped 10.51 per cent and made a fresh new 52-week high of Rs 49 per share from its previous closing of Rs 44.34. The shares of the company saw a spurt in volume by more than 5.61 times on BSE.
Welspun Specialty Solutions Limited (WSSL) announced that the company has been awarded a contract to supply seamless stainless steel boiler tubes for National Thermal Power Corporation's (NTPC) Talcher 2x660 MW supercritical thermal power project. WSSL was selected as the preferred bidder (L1) through a competitive assessment by Bharat Heavy Electricals Ltd (BHEL), the project's main contractor. The final contract value is Rs. 117.17 crore (including GST) and is expected to be completed by December 2024. This contract was awarded through a normal business process, unrelated to any affiliated parties, and conducted on an arm's length basis.
Welspun Specialty Solutions Ltd is engaged in the business of manufacturing alloy, stainless steel & its products such as seamless tubes & rolled products and hence the entire turnover is from alloy and SS steel & its products. As of March 31, 2024, the company order book stands at 4,111 MT valued at Rs 166.1 crore.
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The company has a market cap of over Rs 2,500 crore and has delivered good profit growth of 26.9 per cent CAGR over the last 5 years. According to the Quarterly Results, the net sales increased by 10 per cent to Rs 151.27 crore and net profit skyrocketed by 397 per cent to Rs 40.03 crore in Q4FY24 compared to Q4FY23. In FY24, the net sales skyrocketed by 67 per cent to Rs 696.97 crore compared to FY23. The company reported a net profit of Rs 62.47 crore in FY24 compared to a net loss of Rs 13.74 crore in FY23, an increase of 555 per cent.
As of March 2024, an ace investor, Dilip Kumar Lakhi owns a 23.04 per cent stake in the company. The stock has delivered multibagger returns of 215 per cent in 2 years and a whopping 865 per cent in a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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