Rs 19.88 crore order book: Penny stock under Rs 75 hit lower circuit & 52-week low after bagging an order worth Rs 6,00,00,000 from Indian Railways

The company has a market cap of Rs 137.46 crore with a PE of 36x, an ROE of 24 per cent and an ROCE of 19 per cent.

Abha Power & Steel Ltd has been added to the vendor list of one of the most esteemed OEMs for Indian Railways. This marks the beginning of a new product line for the company, promising significant growth in our operations going forward. Additionally, the company have recently secured an order worth approximately Rs.6 crore from Indian Railways. As of December 5, 2024, the total order book stands at Rs 19.88 crore.

Abha Power and Steel Limited (APSL) cater to diverse industries such as Indian Railways, steel, cement, heavy engineering, mining, and power, offering a comprehensive range of standard and customized products. The Company focus on quality, safety, value, and price competitiveness that helps to establish and maintain long-term relationships with customers both domestically and in over six countries, including UAE, Qatar, Germany, Canada, Italy, Netherlands, and Nepal. The manufacturing facility includes a captive solar power plant with a capacity of 3 MW, reducing our operating costs. 3400MT of CO2 emissions saved annually by our solar Plant.

The Company plans to become a green manufacturer of castings. Since its inception in 2004 with a steel ingot and billet manufacturing plant in Hardikala, Bilaspur, Chhattisgarh, it expanded in 2009 by adding a spheroidal graphite iron foundry to serve Indian Railways. In 2016, the company transformed the ingot plant into a steel foundry. Currently, the company operate two foundries—SG iron and steel—within our 319,200 square-foot ISO 9001:2015 certified manufacturing facility at Silpahri Industrial Area, Bilaspur.

On Thursday, shares of Abha Power and Steel Ltd hit a 5 per cent lower circuit to Rs 73.95 per share from its previous closing of Rs 77.80 per share. The stock also made a new 52-week low of Rs 73.95 per share while its 52-week high is Rs 81.90 per share. The company has a market cap of Rs 137.46 crore with a PE of 36x, an ROE of 24 per cent and an ROCE of 19 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.