Salasar Techno Engineering Limited has emerged as a dynamic player in the telecom and infrastructure sector, captivating investors’ attention with its stellar performance and strategic decisions.
In this article, we will delve into the key facets of Salasar Techno Engineering, exploring its core operations, recent Q3 results, and the significant issuance of bonus shares.
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Navigating the telecom and infrastructure landscape:
Established in 2001 and headquartered in New Delhi, Salasar Techno Engineering has emerged as a fast-growing steel structure manufacturer and EPC (Engineering, Procurement, and Construction) infrastructure company.
The company specialises in manufacturing large and heavy steel structures, providing customised steel solutions, and offering 360-degree EPC solutions to diverse industries, including telecom, power, railways, and more.
Salasar Techno Engineering’s product portfolio encompasses a wide range, including telecommunication towers, power transmission line towers, smart lighting poles, utility poles, high mast poles, stadium lighting poles, monopoles, substation structures, solar module mounting structures, etc.
The company also engages in rural electrification, power transmission lines, and solar power plants, offering comprehensive EPC services for various projects.
Robust Q3 financial results:
The latest unaudited Q3 results for the financial year 2024 showcase Salasar Techno Engineering’s robust financial performance. In Q3FY24, the company reported a total income of ₹304.15 crore, reflecting a 10.40% QoQ rise from ₹275.56 crore in Q2FY24.
On a YoY basis, the company achieved an impressive 26.24 % growth in total income. The net profit surged to ₹16.75 crore in Q3FY24, compared to ₹10.77 crore in Q3FY23, demonstrating a substantial improvement. The Q3FY24 net profit also significantly increased from ₹9.20 crore reported in Q2FY24.
The positive financials indicate Salasar Techno Engineering’s effective management and successful execution of projects in the telecom, energy, and railways sectors.
The company’s continuous efforts to secure additional contracts, especially in the government’s Revamped Distribution Sector Scheme (RDSS) and projects awarded by prestigious power sector PSUs and Indian Railways, have contributed to its impressive order book.
Bonus share issue:
Adding to the allure, Salasar Techno Engineering’s decision to issue bonus shares in a 4:1 ratio has generated heightened interest among investors.
The company’s board of directors approved the allotment of 126,28,21,120 equity shares of Re. 1/- each as bonus shares to eligible shareholders, based on the record date of February 1, 2024.
This strategic move has propelled the stock’s attractiveness, with a surge of over 200% in the last six months. The 4:1 bonus issue has further solidified the company’s position as an appealing investment choice.
Salasar Techno Engineering’s success story is a testament to its diversified offerings, robust financial performance, and strategic decision-making.
As the company continues to secure lucrative contracts and expand its presence, it stands poised to solidify its position as a formidable force in the telecom and infrastructure sector.
Investors closely watch the company’s trajectory, anticipating further growth and success in the dynamic market.