This trending PSU stock provides travel ticket booking services to the Indian Government!
The company has a land bank equivalent to its current market capitalisation.
On November 17, Balmer Lawrie & Company Ltd is among the Top Gainers. The shares of Balmer Lawrie & Company Ltd surged 7 per cent and closed at Rs 121.55. The stock opened at Rs 112.15 and made an intraday high and low of Rs 123.25 and Rs 112.15, respectively.
Balmer Lawrie & Company Ltd is involved in diversified business operations, such as travel & vacation services, industrial packaging, greases & lubricants, leather chemicals, logistic services and infrastructure, and refinery & oil field.
It is a major public-sector undertaking that is overseen by the Ministry of Petroleum and Natural Gas. This allows the company to cater to other government PSU companies and receive stable revenue from them. Balmer Lawrie is the government's preferred partner for logistics services for defence imports and ticketing services for military officials.
From an investment point of view, the highlight of the company is its dividend yield. As per FY22, the company has a strong dividend yield of 5.82 per cent. Another interesting thing about the company is that it has a land bank nearly equal to its current market capitalisation.
The company has a market capitalisation of Rs 2072 crore and is currently trading at a PE multiple of 13.42x. The stock has a 52-week high and low of Rs 141.45 and Rs 103.2, respectively.
On November 3, the company announced Q2FY23 results. For the Q2FY23 quarter, the company revenue increased by 12.67 per cent YoY to Rs 551 crore from Rs 489 crore, reported in Q2FY22. While the net profit jumped by 31 per cent YoY and came in at Rs 34 crore.