Rs 2,198 Crore Order Book & DIIs Bought 15 Lakh Shares: Multibagger Penny Stock Under Rs 15, Rockets 13.3 Per Cent With 2 Times Volume Spurt

The stock is up by 36.5 per cent from its 52-week low of Rs 7.80 per share and has given multibagger returns of over 1,200 per cent in 5 years

On Wednesday, shares of Salasar Techno Engineering Ltd rocketed 13.3 per cent to Rs 10.65 per share from its previous closing of Rs 9.40 per share with 2 times spurt in volume. The stock’s 52-week high is Rs 23.27 per share and its 52-week low is Rs 7.80 per share. 

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 (Q3FY25), the net sales increased by 33.3 per cent to Rs 375.18 crore and net profit increased by 23.3 per cent to Rs 11.95 crore compared to Q3FY24 while in its nine-month results (9MFY25), the net sales increased by 13 per cent to Rs 950.67 crore and net profit decreased by 11 per cent to Rs 32.11 crore compared to 9MFY24. In FY24, the company reported net sales of Rs 1,208.43 crore and net profit of Rs 52.95 crore.

The Board of Salasar Techno Engineering Limited approved the amalgamation of its wholly-owned subsidiary, EMC Limited, under the Companies Act, aiming for operational benefits and cost reduction; EMC's financials as of December 31, 2024, included a paid-up share capital of Rs 7,800 lakh, reserves & surplus of Rs 5,376.04 lakh, total income of Rs 1,471.08 lakh, and a loss after tax of Rs 774.89 lakh, while Salasar's showed a paid-up share capital of Rs 17,267.70 lakh, reserves & surplus of Rs 53,959.24 lakh, total income of Rs 94,494.02 lakh, and a profit after tax of Rs 3,139.91 lakh; this merger, requiring regulatory and NCLT approval, involves no new share issuance and seeks to create a stronger combined entity.

In December 2024, DIIs took a fresh entry and bought 15,00,000 shares or 0.09 per cent stake. The stock is up by 36.5 per cent from its 52-week low of Rs 7.80 per share and has given multibagger returns of over 1,200 per cent in 5 years. Investors should keep an eye on this small-cap stock.

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