Salasar Techno Engineering, a leading engineering and construction company based in New Delhi, has experienced significant growth in its total income during the first quarter of the current financial year. This growth can be attributed to the increasing activity in the manufacturing sector and continuous foreign inflows.
The company reported a 24% increase in total income, reaching Rs 262 crore compared to Rs 211 crore in the same period of the previous year.
Furthermore, Salasar Techno Engineering achieved a net profit of Rs 10.14 crore in the quarter ending June 30, representing a 38% growth from the previous year’s Q1 net profit of Rs 7.3 crore. In the previous financial year 2022-23, the company’s net profit reached Rs 40.25 crore, showing a 28% increase from FY22 when it was reported at Rs 31.4 crore.
In accordance with the Companies Act, 2013, the company’s board has decided to enhance the borrowing limit from Rs 700 crore to Rs 1,000 crore. This increase in borrowing capacity will allow the management to invest more in operations to boost production.
In addition, Salasar Techno Engineering has declared a dividend of 10% on equity shares of Re 1 each fully paid up. The dividend payment will be made within 30 days from the date of the Annual General Meeting if declared.
Salasar Techno Engineering specializes in steel structure manufacturing and engineering, procurement, and construction (EPC) infrastructure projects. The company is known for its expertise in engineering, designing, procurement, fabrication, and galvanization work for telecom players.
Despite a challenging economic climate, shares of Salasar Techno have delivered remarkable returns. Over the past year, the stock has seen a staggering 70% return, while over the course of three years, it has yielded a return of over 400%. The company currently holds a market valuation of Rs 1,600 crore.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
