Multibagger Penny Stock Under Rs 10 Reports Net Sales of Rs 1,447 Crore and Net Profit of Rs 19 Crore in FY25
The stock is up by 21.2 per cent from its 52-week low of Rs 7.55 per share and has given multibagger returns of over 800 per cent in 5 years.
On Monday, shares of Salasar Techno Engineering Ltd surged 1.90 per cent to Rs 9.15 per share from its previous closing of Rs 9.42 per share. The stock’s 52-week high is Rs 23.27 per share and its 52-week low is Rs 7.80 per share. The stock is up by 21.2 per cent from its 52-week low of Rs 7.55 per share and has given multibagger returns of over 800 per cent in 5 years.
Established in 2006, Salasar Techno Engineering Limited (STEL) is a leading provider of customised steel infrastructure solutions in India. They offer a comprehensive range of services, including engineering, design, fabrication, galvanisation and installation. STEL's product portfolio includes various towers (telecom, power transmission, lighting, etc.), substations, solar structures, railway electrification components, bridges and custom steel structures. Moreover, they act as an EPC contractor, managing complete projects for rural electrification, power lines and solar plants. As of December 31, 2024, STEL has a strong order book of Rs 2,198 crore.
According to Quarterly Results (Q4FY25), the net sales of Rs 483.31 crore and net loss of Rs 5.23 crore while in its half-yearly results (H2FY25), the company reported net sales of Rs 858.49 crore and net profit of Rs 6.71 crore. In FY24, the company reported net sales of Rs 1,447.43 crore and net profit of Rs 19.13 crore.
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Salasar Techno Engineering Limited has seen its credit ratings revised by Infomerics Valuation and Ratings Pvt Ltd. The long-term bank facilities of Rs 680.45 crore have been downgraded from 'IVR A/Positive' to 'IVR A/RWDI', while short-term bank facilities of Rs 18.00 crore were revised from 'IVR A1' to 'IVR A1/RWDI'. These revisions, affecting a total of Rs 698.45 crore in bank loan facilities, reflect the company's performance in FY2024 and the first nine months of FY25, and the 'RWDI' status indicates potential future changes. Concurrently, the Board has approved the amalgamation of its wholly-owned subsidiary, EMC Limited, aiming for operational benefits and cost reduction. This merger, which requires regulatory and NCLT approval and involves no new share issuance, seeks to create a stronger combined entity.
Disclaimer: The article is for informational purposes only and not investment advice.