Shares of this micro-cap engineering services company, which specializes in power generation and the oil & gas sectors, gained 1 percent in Monday morning trade following the announcement of an order worth Rs.3.07 crore. The order is for the supply, installation, testing, and commissioning of a High-Speed Diesel (HSD) system for the Nxtra data center in Pune, awarded by M/s. Powerica Limited.
Price Movement
In Monday’s trading session, Lakshya Powertech Ltd’s share price reached an intraday high of Rs.344.95 per share, up 1.4 percent from its previous closing price of Rs.340.30 apiece. The share has since retreated and is currently trading at Rs.327.00 each.
Lakshya Powertech made its debut on the Indian stock market on Wednesday, 23rd October 2024, with its shares listing at a significant premium to the issue price on the National Stock Exchange (NSE) SME platform.
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Order Details
Lakshya Powertech Ltd has been awarded a tender contract by M/s. Powerica Limited for the supply, installation, testing, and commissioning of a High-Speed Diesel (HSD) system for the Nxtra data center in Pune, Maharashtra. This domestic contract, valued at Rs.3,07,97,940/-, is to be executed within a period of 2 months.
Strategic Initiatives
Lakshya Powertech Ltd. has strengthened its global presence through international projects in renewable energy and strategic EPC contracts in the oil and gas sectors. The company is focused on sustainability, with initiatives like Compressed Biogas projects in India, expanding manufacturing under ‘Make in India,’ and advancing solar and green hydrogen solutions.
Shareholding Pattern
According to the September 2024 shareholding pattern, the promoters of Lakshya Powertech Ltd hold 69.22 percent of the shares. Foreign Institutional Investors hold 5.47 percent, while Domestic Institutional Investors and Retail Investors hold stakes of 5.69 percent and 19.62 percent, respectively.
Financial Performance
According to its financial reports, Lakshya Powertech Ltd reported revenue from operations of Rs.148 crore in FY 2023-24, reflecting a 180 percent incline from Rs.53 crore in FY 2022-23. Net Profits also increased exceptionally by 400 percent to Rs.15 crore from Rs.3 crore in the same period.
Company Overview
Founded in 2012, Lakshya Powertech Limited has transformed from an engineering consultancy into a leading player in the energy sector, specializing in Engineering, Procurement, Construction, and Commissioning (EPCC) services. The company operates across four primary sectors: Oil and Gas, Power, Renewable Energy, and Industrial Services.
Written by – Siddesh S Raskar
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