Penny stock under Rs 15: Road construction company secures order worth Rs 2,71,40,000 from GNI Infrastructure Ltd
The stock is up over 50 per cent from its 52-week low of Rs 7.55 per share.
Sanmit Infra Limited has secured its fourth significant work order from GNI Infrastructure Ltd for 2,00,000 SQMT of Micro Surfacing Work on the HAM-AU101 Project, spanning Badnapur-Nanrgaon-Jamkhed-Akola-Mohora. This domestic contract, valued at Rs 2,71,40,000 (including 18 per cent GST), involves providing and laying a Micro Surfacing course with specific aggregate, binder and cement proportions. The project, commencing July 15, 2025 and concluding September 15, 2025, includes detailed terms for weekly joint measurements, payments within 7 days of bill submission, a 5 per cent retention and a 24-month Defect Liability Period covering specific surface failures. GNI Infrastructure will provide site space, electrification and water, while Sanmit Infra is responsible for all machinery, manpower, materials, fuel, QC/QA, supervision and execution.
Earlier, Sanmit Infra Limited secured a domestic order valued at Rs 41,30,000 (including GST) from H.G. Infra Engineering Limited. This contract, for 20,000 SQMT of rut filling and micro surfacing work in Telangana with a three-month completion timeline. Payment was to be made within 15 days of bill certification, with no advance. Key terms included a 3 per cent Contract Performance Bank Guarantee and a 5 per cent retention money deduction, released after a 12-month Defect Liability Period. This additional scope of work highlighted the client's confidence in Sanmit Infra's capabilities.
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About the Company
Sanmit Infra Ltd, established in 2000, is a diversified company focusing on petroleum products, trading, and infrastructure development. They offer services like bio-medical waste disinfection systems and road construction. Their petroleum business includes various oils and bitumen, while their infrastructure projects cover residential and commercial complexes in Mumbai and upcoming areas. The company is also implementing a GMS system for cremation using bamboo pellets to promote environmental sustainability.
The company has a market cap of Rs 176 crore and the stock is trading at under Rs 15. The stock is up over 50 per cent from its 52-week low of Rs 7.55 per share.
Disclaimer: The article is for informational purposes only and not investment advice.