During Tuesday’s trading session, the shares of this company engaged in undertaking infrastructure projects on a contract basis are in focus after securing an order worth nearly Rs. 157 crores from Square Port Shipyard Private Limited.
With a market cap of Rs. 61.6 crores, the shares of Modern Engineering And Projects Limited closed in the red at Rs. 39.86 on BSE, down by around 2 percent, as against its previous closing price of Rs. 40.67.
What’s the news
According to the latest regulatory filings with the BSE, Modern Engineering And Projects Limited received a work order worth around Rs. 157.46 crores from Square Port Shipyard Private Limited.
The order involves the construction of a slipway, transfer bay, repair bay and extension of the Jetty at Dhabol. The order is to be executed within 9 months from the date of the work order.
Previous Order
On 29th October, Modern Engineering bagged a work order, valued at Rs. nearly 61.02 crores, from Tata Steel Limited for Boundary Wall work at Meramandal, Odisha. The order is to be executed by 31st October 2027.
Financials
Modern Engineering reported a marginal decline in revenue from operations, experiencing a year-on-year fall of nearly 2 percent, from Rs. 16.6 crores in Q2 FY24 to Rs. 16.3 crores in Q2 FY25.
Similarly, its net profit decreased during the same period from Rs. 0.72 crores to Rs. 0.42 crores, representing a decline of nearly 41.7 percent YoY.
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Stock Performance
The stock has delivered multibagger returns of nearly 207.3 percent in one year, while around 41.3 percent of negative returns in the last six months. The shares of Modern Engineering have given negative returns of about 7 percent in the last one month.
About the company
Modern Engineering and Projects Limited, formerly known as Modern Converters Limited, is engaged in the business of execution of contracts for various infrastructure projects including transportation engineering, civil construction and other works, etc.
Written by Shivani Singh
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