Upper Circuit
Shares of BR Goyal Infrastructure Ltd, a micro-cap company involved in civil construction, ready-mix concrete construction, wind power generation, toll collection contracts and residential projects across India, jumped 5% on Thursday after it received a big order from the National Highways Authority of India (NHAI). The stock hit its upper circuit limit to Rs 145.30, up from its previous close of Rs 138.40.
The company secured an order worth Rs 30.53 crore from NHAI for user fee collection project at Paraghat toll plaza on NH-200 (new NH-49) at Bilaspur, Chhattisgarh. The project will run for a period of one year from January 23, 2025 to January 23, 2026. The project is part of a larger plan to upgrade NH-200, which includes converting a section of the road from Km 127.500 to Km 160.687 into a two-lane or four-lane road with paved road.
B.R. Goyal Infrastructure Limited is involved in various sectors, including:
- EPC (engineering, procurement and construction) services for infrastructure projects.
- Manufacturing of ready-mix concrete (RMC).
- Toll collection contracts in Haryana and Uttar Pradesh.
- Residential development projects in Indore.
- Wind power operations with a 1.25 MW windmill in Jaisalmer, Rajasthan.
The company recently launched its initial public offering (IPO) from January 10 to January 12, 2025, aiming to raise around Rs 100 crore. It has raised Rs 30 crore by offering 30 lakh equity shares at a price of Rs 100 per share. The funds will be used to support ongoing civil construction projects, expand its RMC production, and meet working capital requirements.
For FY24, B.R. Goyal Infrastructure reported a 67.83% growth in revenue, rising to Rs 579 crore from Rs 345 crore in FY23. Its net profit also grew by 37.50%, rising from Rs 16 crore in FY23 to Rs 22 crore in FY24.
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