Low PE penny stock under Rs 65: Engineering company receives order worth Rs 436.37 lakh from National Highway Authority of India
The shares of the company have a PE of 10x whereas the industry PE is 28x.
Artefact Projects Limited, in association with Manglam Infra & Engineering Limited, has secured a significant project from the National Highway Authority of India to provide Independent Engineer services during the Operations and Maintenance period for the 4-laned Loha-Waranga and Waranga-Mahagaon sections of NH-361 in Maharashtra. This Hybrid Annuity Mode (DBFOT Annuity) project under NHDP Phase IV spans a duration of 60 months, with Artefact Projects Limited's contracted fees amounting to approximately Rs 436.37 lakh, excluding GST.
Earlier, the company has been awarded the following project from the National Highway Authority of India: Supervision Consultancy Services (SC) for Operations and Maintenance of the Penchalakona to Yerpedu section of NH-565 from Km 425.400 to km 509.400 (total length 84 km) to 2 Lane with paved shoulder in the State of Andhra Pradesh on PBMC Mode. This Letter of Award, received in a joint venture with Manglam Infra and Engineering Limited in association with Renaissance IOT LLP, entails supervision consultancy services for 36 months, with the company's contracted fees for the project being approximately Rs 241.63 lakh (excluding GST).
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Incorporated in 1987, Artefact Projects Ltd is engaged in the project consultancy business in India. The company has a market cap of Rs 56.2 crore and reported positive numbers in its Quarterly Results (Q2FY25) and half-yearly results (H1FY25). The stock is trading at 0.92 times its book value and has delivered good profit growth of 31.6 per cent CAGR over the last 5 years.
The stock’s 52-week high is Rs 94.75 per share and its 52-week low is Rs 52.80 per share. The shares of the company have a PE of 10x whereas the industry PE is 28x. The stock is up by 18.18 per cent from its 52-week low of Rs 58.20 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.