Under Rs 200: Micro-cap Industrial Conveyor Belt Manufacturer Secures Orders Worth Rs 16.18 Crore from Various Clients Including NTPC
The company’s shares have delivered an impressive return of over 220 per cent in the past 2 years.
Incorporated in 2000, Somi Conveyor Beltings Ltd is a micro-cap company that specializes in the manufacturing of industrial conveyor belts made from rubber and steel. The company has secured orders totalling Rs 161.86 crore from the following:
- NLC Tamilnadu Power Ltd - Tuticorin: Rs 21,675,880
- NTPC Limited - Gadarwara: Rs 35,806,250
- The West Bengal Power Development Corporation Ltd - Murshidabad: Rs 9,113,730
- UPRVUNL - SGTPP: Rs 25,597,221
- UPRVUNL - Obra: Rs 6,115,421
- UPRVUNL - Paricha: Rs 2,453,928
- UPRVUNL - Harduaganj: Rs 24,209,352
- UPRVUNL - Anapara: Rs 19,177,926
- NTPC Limited - Barh: Rs 17,715,000
Today, the company’s shares rallied around 5 per cent, and finally closed at around at Rs 156.90 and the current market capitalization stands at Rs 184.82 crore. Additionally, the shares have delivered an impressive multibagger return of over 150 per cent in the past 1 year only.
As per the Quarterly Results, in the Q1 FY25, Somi Conveyor Beltings Ltd recorded a revenue of Rs 15.23 crore compared to Rs 16.76 crore. It reported an operating profit of Rs 1.57 crore. The net profit stood at Rs 0.74 crore compared to Rs 0.61 crore. Looking at the annual performance, the company generated a revenue of Rs 102 crore in FY24 compared to Rs 94 crore. The operating profit for FY24 was Rs 9 crore with a net profit of Rs 5 crore compared to a profit of Rs 3 crore in FY23.
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Somi Conveyor Beltings Ltd, an Indian conveyor belt manufacturer, operates across Rajasthan, Maharashtra, Gujarat, and Tamil Nadu, with production facilities based in Jodhpur, Rajasthan. The company produces a wide variety of conveyor belts, including M-24, Tiger M-27 (with superior abrasion resistance), HR Grade, SHR Grade, SHR T2 (up to 150°C), UHR Grade, UHR T3 (up to 180°C), SEHR-36 and 72 (crack-resistant up to 350°C), Fire-Resistant SEFR-81, Oil-Resistant belts, SAR-36 Fusion Belt (combining fabric and steel wires), STA (bulletproof aramid fabric), Pipe Conveyor Belts (for highly efficient material transportation), Steel Cord Belts, Chevron, Rough Top Belts, and rubber sheets and mattings. These products are marketed under the "Somiflex" brand. With an annual production capacity exceeding 900,000 meters, the company manufactures conveyor belts up to 2000mm in width.
Disclaimer: The article is for informational purposes only and not investment advice.