In recent market performance, Bondada Engineering has emerged as a notable multibagger stock, with its share price witnessing a substantial increase of 5% during Friday’s trading session. This surge comes on the heels of the company’s impressive achievement in securing two significant engineering, procurement, and construction (EPC) contracts totaling a remarkable ₹1,132.25 crore. These contracts are part of the MSKVY 2.0 scheme aimed at developing crystalline ground-mounted solar PV power plants across various districts in Maharashtra.
Details of the Contracts
The first contract, which is valued at ₹763.16 crore, encompasses a comprehensive range of services. This includes the design, construction, supply, installation, testing, and commissioning of the solar PV facility, alongside three years of operational and maintenance services based on the EPC model at a 33/11 kV capacity.
Expansion in Solar Energy
The second contract is worth ₹369.08 crore and shares a similar scope of work. However, it differs in that the PV modules will be supplied by MAHAGENCO. Both contracts are strategically aimed at converting agricultural feeders into solar power sources, ensuring a greener energy landscape for the region while also committing to a three-year operational and maintenance support period.
Impressive Stock Performance
Bondada Engineering’s stock has demonstrated an astonishing growth of 1,380.33% over the past year, significantly outperforming its sector, which grew by 1,330.5%, according to Trendlyne data. As of the current trading day, the share price opened at ₹610 on the BSE, hitting an intraday high of ₹634.05 and an intraday low of ₹598.80. The company’s total market capitalization reached an impressive ₹6,639.39 crore.
Recent Order Wins
In addition to the aforementioned contracts, Bondada Engineering recently secured another contract worth ₹468 crore from KPI Green. This agreement involves the installation and delivery of a state-of-the-art 130 MWp/100 MWac solar power production facility, expected to be completed within the next twelve months, further solidifying the company’s foothold in the renewable energy sector.
Innovative Projects
In September, the company announced that its subsidiary, Bondada Green Engineering (BGEPL), had won work orders from Bharti Airtel worth ₹10.20 crore. This project involves the supply and installation of 8-meter high poles weighing 82kg, along with plates, brackets, and cross-sections for cable GBPA for GI poles, as well as 6-meter high GI poles weighing 60kg, all designed to enhance telecom infrastructure efficiency.
Catalyst for Growth
Known for its expertise in providing passive telecom network infrastructure, Bondada Engineering has established itself as a key player in the industry. The services offered encompass building, constructing, operating, and repairing telecom towers, making significant contributions to the modernization of telecommunications in India.
Market Closing Performance
As the trading session concluded on Friday, Bondada Engineering’s share price finished with a notable increase of 1.79%, closing at ₹614.70 per share on the BSE. This robust performance reflects strong investor confidence and the company’s solid fundamentals, setting a positive outlook for future endeavors.
Disclaimer: The insights and recommendations presented are based on analysis from various experts and should not be construed as investment advice. Investors are encouraged to consult certified professionals before making any investment decisions.
