Vijay Kedia Holds 10.66 Per Cent Stake: Façade Services Company Bags Order Worth Rs 48.82 Crore From EBISU Tech Park Pvt Ltd
The stock is up by 22 per cent from its 52-week low of Rs 141.05 and gave multibagger returns of over 1,000 per cent in 5 years.
Innovators Facade Systems Limited announced the receipt of a significant work order from M/S EBISU TECH PARK PVT. LTD for the design, fabrication, supply, and installation of facade and Building Maintenance Unit (BMU) works for their SWIFT PROJECT located in Bengaluru, Karnataka. This domestic order, valued at Rs 48.82 crore (excluding taxes), is expected to be completed within a timeframe of 14 months from the commencement of work, marking a substantial addition to the company's portfolio and reinforcing its position in the facade and BMU solutions sector.
Innovators Facade Systems Limited operates as a building finishing contractor. The company offers facade design, fabrication, and installation services. Innovators Facade Systems serves the residential and commercial sectors in India.
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The company has a market cap of over Rs 370 crore and working capital requirements have been reduced from 195 days to 121 days. According to half-yearly results, net sales increased by 14 per cent to Rs 114 crore and net profit increased by 60 per cent to Rs 8 crore in H1FY25 compared to H1FY24. In FY24, net sales increased by 18.7 per cent to Rs 215.11 and net profit increased by 81.2 per cent to Rs 15.26 crore compared to FY23.
An ace investor, Vijay Kedia owns 20,10,632 shares or a 10.66 per cent stake in this company. The stock is up by 22 per cent from its 52-week low of Rs 141.05 and gave multibagger returns of over 1,000 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.