Rs 209.60 crore order book: Multibagger cable company bags order worth Rs 296,00,00,000 from Solar Energy Corporation of India Ltd (SECI)
The stock gave multibagger returns of 353 per cent in just 1 year and a whopping 5,800 per cent in 3 years.
On Wednesday, shares of Advait Infratech Ltd hit a 5 per cent upper circuit to Rs 1,979.70 per share from its previous closing of Rs 1,885.45 with a spurt in volume by more than 1.08 times on BSSE.
Advait Infratech Limited has been awarded a contract by Solar Energy Corporation of India Limited (SECI) to establish 200 MW of alkaline electrolysers manufacturing capacity in India. This contract is part of the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme, specifically Tranche-II. The order is valued at approximately Rs 296 crore and will be completed in 5 years. This development marks a significant step towards India's green hydrogen goals and demonstrates Advait Infratech's capabilities in the clean energy sector.
Earlier, the company was awarded an EPC contract by Dakshin Gujarat Vij Company Limited (DGVCL) for the installation of MVCC in Southern Gujarat. This turnkey contract involves the supply, installation, testing and commissioning of 11 KV 55mm2 AAAC Medium Voltage Covered Conductor (MVCC) and its accessories. The contract is valued at Rs. 20,32,50,440 (inclusive of GST) and is expected to be completed within 12 months from LOI.
Advait Infratech Ltd is engaged in providing products and solutions for power transmission, power substation, and telecommunication infrastructure fields. Also, it operates with various verticals such as turnkey telecommunication projects, installation of power transmission, telecom products, etc. As of March 31, 2024, the company has a Rs 209.60 crore order book.
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In Q1FY25, an ace investor, Ashish Kacholia bought 2,88,185 shares or 2.67 per cent in the company at Rs 1,388 per share (face value is Rs 10) aggregating to Rs 40,00,00,780 via preferential issue of shares.
Regarding the financials, Advait Infratech has a market cap of over Rs 2,000 crore with a 3-year stock price CAGR of 305 per cent. The company reported excellent numbers in its both Quarterly Results (Q1FY25) and annual results (FY24). The net sales increased by 118 per cent to Rs 59.81 crore and net profit increased by 265 per cent to Rs 5.36 crore in Q1FY25 over Q1FY24. The net sales increased by 100.4 per cent to Rs 208.85 crore and the net profit increased by 159.3 per cent to Rs 21.88 crore in FY24 over FY23.
The shares of the company have an ROE of 38 per cent and an ROCE of 38 per cent. The stock gave multibagger returns of 353 per cent in just 1 year and a whopping 5,800 per cent in 3 years. Investors should keep a close eye on this small-cap cable stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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