26 Dec , 2024 By : Debdeep Gupta
Ramky Infrastructure Limited stocks gained following a LoA ( Letter of Acceptance) for a Rs 215.08 crore contract from the Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB). As of 10:40 am, the stock was trading 2.87 percent higher at Rs 621.25 per share.
The Company has been awarded a contract entailing the management and maintenance of sewage treatment plants and related infrastructure for a period of five years.
According to a CNBC-TV18 report, the company had previously received warnings from both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) for non-compliance with regulations regarding the frequency of risk management committee meetings.
The company's last two meetings were held on August 10, 2023, and February 12, 2024, exceeding the stipulated 180-day interval.
Ramky Infrastructure Limited registered a PAT increase of 12.62 percent, to Rs 973 million for the quarter ending September 30, 2024, compared to Rs 864 million for the quarter ending June 30, 2023. Its EBITDA also grew by 7.2 percent, Rs 1,513.82 million for the same quarter, compared to Rs 1,411.92 million in the previous fiscal. However, the company's net profit for Q2FY25 declined by 30.57 percent to Rs 78.19 crore compared to the same period in the previous year.
As of March 2024, the company had also entered into one contract involving an amount of Rs 39.88 crore and the second one worth Rs 176.77 crore. Both orders were regarding the reclamation of the dumping ground through biomining, the Hyderabad-based company informed the stock exchanges. The contract was set for an execution timeline of 24 months.
Ramky Infrastructure is a capital goods company that specializes in infrastructure development, including water, wastewater treatment, roads, bridges, and urban infrastructure.
Over a span of one year, the company's stock returns have fallen by 21.16 percent, and its current market capitalization rests at Rs 4,320 crore.
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