Furniture manufacturer receives multiple orders worth Rs 11,25,00,000 from Government of West Bengal
The stock is up by 67 per cent from its 52-week low of Rs 198.55 per share.
On Friday, shares of Parin Furniture Ltd hit a 5 per cent lower circuit to Rs 331.65 per share from its previous closing of Rs 349.10 per share.
Parin Furniture Limited has secured a significant order from the Health Department, Government of West Bengal, valued at Rs 11.25 crore. This prestigious government contract involves the supply of Examination Beds to over 7500 locations across the state, as part of West Bengal's healthcare infrastructure enhancement initiative. The order is expected to be executed in a phased manner over the coming months and is anticipated to positively impact the company's revenues and operational performance in the current and forthcoming financial periods.
Earlier, the company received multiple contracts from the Ministry of Civil Aviation, Airports Authority of India for the supply of airport furniture in different states of India for a total order value of Rs 27.50 lakh (Rupees Twenty-Seven Lakhs Fifty Thousand Only).
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Parin Furniture Ltd, established in 1983, is a leading furniture manufacturer and supplier in India. They cater to a wide range of needs, offering furniture for hospitals, educational institutions, offices, public spaces and even homes. Their product portfolio includes everything from hospital beds and school desks to office chairs, living room sets and dining tables. They also specialise in customised furniture for OEM partners and projects.
With a presence in 18 states across India, Parin Furniture boasts an impressive infrastructure including a 200,000 sq. ft display area, a 1,25,000 sq. ft warehouse, and a network of over 900 business partners, dealers and distributors. Their ambitious plans for the future include setting up 100 brand stores across India by 2025, solidifying their position as a major player in the Indian furniture market.
The company has a market cap of Rs 369 crore. The stock is up by 67 per cent from its 52-week low of Rs 198.55 per share.
Disclaimer: The article is for informational purposes only and not investment advice.