Ceinsys Tech shares hit the upper circuit filter of 5 per cent on NSE (National Stock Exchange), after company received a letter of Intent from Vidarbha Irrigation Development Corporation for Wainganga Nalganga River Link Project worth Rs 381.18 crore.
The shares of Ceinsys tech went on to touch the upper circuit filter of 5 per cent after ringning the opening bell at Rs 1,870.00 per share on the Indian exchanges.
Ceinsys tech shares were currently locked in a 5 per cent upper circuit at Rs 1,903.90 per share with a surge of Rs 90.65 per share on the dalal street at 12.30 pm.
Project details
The Vidarbha Irrigation Development Corporation, Irrigation and Hydropower Project Investigation Department, Nagpur, granted the company the order, according to a regulatory filing.
Numerous components, including the main canal, feeder canal, lis, pipeline, tunnels, enroute tanks, PDN, and other pertinent structures, must be thoroughly surveyed, investigated, hydrologically studied, designed, and estimated as part of the project.
With a focus on the districts of Nagpur, Wardha, Yavatmal, Amravati, Akola, Washim, and Buldhana in Maharashtra, the scope of work aims to prepare the Detailed Project Report (DPR) for the Wainganga Nalganga River Link Project.
Company Financials
In Q2, Ceinsys Tech reported robust revenue and profit growth, with revenue hitting Rs 90 crore, up 54 per cent year-over-year (YoY). With an EBITDA margin of 18.67 per cent and a 71 per cent YoY growth, the company's EBITDA for the quarter was Rs 16.8 crore. The Q2 net profit (PAT) was Rs 11.7 crore, a 149 per cent increase over the same period the previous year.
Total order book
The company's total order book reached Rs 1,210 crore as of September 30, 2024, surpassing Rs 1,000 crore. 76 pre cent of the order book was made up of engineering and geospatial services, with technology solutions making up the remaining 24 per cent.
The company's expansion across several industries and emphasis on developing a sizable portfolio of long-term projects are reflected in this diversified order book.
