Multibagger HEC Infra Projects share price hits 5% upper circuit as it wins a ₹29 Crore work order

Stock Market Today: HEC Infra Projects share price hits 5% upper circuit as it wins a ₹29 Crore green energy work order from Junipar Green Energy Limited.

The HEC Infra Projects share price opened at ₹119.70 on the NSE on Tuesday, 5% higher than the previous close of ₹113.50 and remained locked in 5% upper circuit thereafter.

HEC Infra Projects share price has gained 242% in last one year, having given Multibagger returns to investors.

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HEC Infra Projects on Monday post market hours had announced order win for designing, supply, installation, testing, commissioning of 220 kv (kilovolt) extra high voltage substation with complete civil work for 315 MW (mega Watt) generation from wind energy. The order is from Junipar Green Energy Limited. Broad consideration or size of order or contract as per the release by the company is Rs.28.44 crores.

HEC Infra Projects Limited operates as a contractor firm for electro-mechanical and instrumentation projects. The Company offers High Tension and Low Tension installations, water management systems, solar, lighting, and automation services.

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The Ahmedabad based HEC Infra Projects, the Engineering Procurement and Construction (EPC) firm had reported net sales from operations of ₹28.18 Crore during the MArch'2024 quarter rising 65% sequentially compared to ₹17.09 in the previous quarter and 45% year on year over ₹19.46 Crore in the March'2023 quarter.

The earnings before interest tax depreciation and amortisation at ₹3.8 Crore also 35% sequentially while had grown almost 3 folds year on year.

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The net profit however had seen impact of higher taxes on sequential basis leading to a decline in net profit on sequential basis.

For the Financial year ending March'2024, the Revenues from Operations at ₹73.79 crore grew 43% year on year over ₹51.74 crore in FY23. The Net profit at ₹4.72 Crore grew grew almost six fold year on year.

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