Bondada Engineering’s stock rose 7.33% to Rs 638.55
Bondada Engineering’s stock rose 7.33% to Rs 638.55 following the announcement of a fundraising plan. The company’s board approved raising up to Rs 185 crore through equity shares, debentures, non-convertible instruments, warrants, and other equity-based securities. The funds will be raised via public/private offerings, preferential issues, and qualified institutional placements, pending regulatory approvals.
Bondada Engineering’s board approved the issuance of up to 31,25,448 equity shares at Rs 591.90 each, pending shareholder approval. The company, specializing in EPC and O&M services for telecom and solar industries in India, reported a 167.2% rise in net profit to Rs 44.73 crore for FY24. This growth was driven by a 116.1% increase in revenue to Rs 800.72 crore. The fundraising will support expansion plans.
Bondada Engineering saw a significant financial boost in FY24, with a 167.2% increase in net profit to Rs 44.73 crore and a 116.1% rise in revenue to Rs 800.72 crore compared to FY23. This growth reflects the company’s strong performance in the telecom and solar energy sectors, supported by its EPC and O&M services across India. Source https://www.business-standard.com/
Indian cricketer Suryakumar Yadav (SKY) owns stocks of Bondada Engineering, a small-cap company
Bondada Engineering, a small-cap company, specializes in providing engineering, procurement, and construction (EPC) services, along with operations and maintenance (O&M) support. It caters primarily to the telecom and solar energy sectors, offering essential services to clients across India.
Bondada Engineering recently raised approximately Rs 185 crore through a preferential issue, allotting up to 31,25,448 equity shares at Rs 591.90 each. Among the investors is renowned Indian cricketer Suryakumar Yadav (SKY), who has applied for 17,000 shares in this issuance. This fundraising is part of the company’s strategy to expand its presence in the telecom and solar energy sectors.
For more details, you can visit the full article here.
Bondada Engineering’s shares are currently priced around Rs 698, with a market capitalization of Rs 7,539 crore. The stock has delivered impressive multibagger returns, rising over 750% in the past year, reflecting strong investor confidence in its growth, particularly in the telecom and solar sectors.
Bondada Engineering saw strong growth in its financial performance for FY24, with revenue reaching Rs 801 crore, operating profit of Rs 68 crore, and net profit rising to Rs 46 crore from Rs 17 crore in FY23. For the half-yearly period ending September 2024, revenue increased to Rs 481 crore, and net profit grew to Rs 36 crore. The company’s impressive financial results and multibagger returns make it a stock to watch.
