Rs 24,253 Crore Order Book: Rail Infrastructure Company Bags Kavach Order Worth Rs 194,45,60,830.27 From Central Railway
The stock gave multibagger returns of 250 per cent in just 2 years whereas BSE Sensex Index is up by 28 per cent.
Ircon International Limited (IRCON) has secured a significant domestic contract from Central Railway. The Letter of Acceptance (LOA) awards IRCON the responsibility for the survey, design, supply, installation, testing, and commissioning of 665 towers for the Kavach railway safety system, along with associated works. Valued at Rs 194,45,60,830.27, the project is slated for completion within 14 months from the LOA issuance date. This win highlights IRCON's expertise in railway infrastructure development and its contribution to enhancing railway safety in India.
Earlier, Ircon International Limited (IRCON), in a joint venture with AMRIL (IRCON's share 26 per cent), has secured a major domestic EPC contract (Package No-04) from the Public Works Department (PWD), Manipur. The project, awarded by the Office of the Project Director, Externally Aided Projects (EAP), involves the construction of rigid pavement and lined drains for selected roads under the Highway South Division, encompassing a total road length of 111.182 km. The total project cost is Rs 531,90,00,000.00 (inclusive of GST), with IRCON's share amounting to Rs 138,29,40,000.00 (inclusive of GST). The project is expected to be completed within 36 months.
About the Company
Ircon International is a leading Indian infrastructure company specializing in railways and highways. Founded in 1976, it has executed over 400 domestic and 128 international projects. Offering engineering, procurement, construction, and project management services, Ircon is involved in both public and private sector projects.
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Order Book Update: The total order book as of September 30, 2024, stands at Rs 24,253 crore.
The break-up of which is as follows:
- Railways – Rs 18,959 crore
- Highways – Rs 5,210 crore and
- Others – Rs 84 crore.
IRCON is a PSU company with a market cap of over Rs 17,000 crore and reported positive numbers in its Quarterly Results (Q2FY25) and half-yearly results (H1FY25). The stock gave multibagger returns of 250 per cent in just 2 years whereas BSE Sensex Index is up by 28 per cent. Investors should keep an eye on this railway construction company’s stock.
Disclaimer: The article is for informational purposes only and not investment advice.