This SBI backed multibagger penny stock bags new order worth Rs 427.79 crore from the Government of Jharkhand!

Shares of the company gained over 140 per cent in the last six months.

SEPC Limited has secured a massive Rs 428 crore contract from the drinking water and sanitation department of the Jharkhand government for the construction of an intake well and related infrastructure. The project will be executed within 27 months and SEPC will also be responsible for operation and maintenance for 5 years.

This is a significant win for SEPC, a one of the leading construction and engineering company in India. The project will not only boost SEPC's order book but also contribute to improving the water supply infrastructure in Jharkhand.

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The company's net sales grew 135.19 per cent year-over-year to Rs 129.18 crore in the second quarter of FY24 while operating profit increased 950 per cent. Net profit for the quarter stood at Rs 5.65 crore, down from Rs 42.20 crore in the same quarter of the previous year. The company has Rs 1143 crore as of March 31, 2023, with a healthy bid pipeline in excess of Rs 3,000 crore.

Shriram EPC Limited (SEPC) is a leading service provider of integrated design, engineering, procurement, construction, and project management services for water and waste-water treatment plants, water infrastructure, process and metallurgy plants, power plants, and mines and mineral processing. SBI owns a 9.16 per cent stake in the company.

The stock also delivered multibagger returns of over 360 per cent in the last three years. Investors should keep a close eye on this penny stock.

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