During Friday’s trading session, the shares of a company engaged in manufacturing rubber and steel-based industrial conveyor belts surged nearly 4 percent at Rs. 213.4 on BSE, after the company secured an order worth nearly Rs. 12.4 crores from South Eastern Coalfields.
With a market cap of Rs. 246.6 crores, the shares of Somi Conveyor Beltings Limited closed in the green at Rs. 209.35, up by nearly 1.8 percent, as against its previous closing price of Rs. 205.75.
What’s the News
Somi Conveyor Beltings Limited has received a new order, valued at Rs. 12.42 crores, from South Eastern Coalfields Limited. As per the latest regulatory filings with the stock exchanges, the order involves the supply of Steel Cord Conveyor Belts in the location of Bilaspur CG.
Previous Order
In September 2024, Somi Conveyor Beltings secured orders amounting to Rs. 16.186 crores from multiple clients including NLC Tamilnadu Power Ltd, NTPC Limited, The West Bengal Power Dev. Corp. Ltd. and UPRVUNL at different locations across India.
Financials
Somi Conveyor Beltings experienced a significant growth in its revenue from operations, showing a year-on-year rise of 20.6 percent from Rs. 28.2 crores in Q2 FY24 to Rs. 34 crores in Q2 FY25.
Similarly, its net profit increased during the same period from Rs. 1.3 crores to Rs. 2.4 crores, representing a growth of nearly 84.6 percent YoY.
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Stock Performance
The stock has delivered multibagger returns of nearly 109 percent in one year, and around 14.6 percent of positive returns in the last six months. Likewise, the shares of Somi Conveyor Beltings have given positive returns of about 22.6 percent in the last one month.
About the company
Incorporated in 2000, Somi Conveyor Beltings Limited (SCBL) is one of the leading manufacturers specializing in rubber and steel-based industrial conveyor belts.
With two state-of-the-art manufacturing facilities located in Jodhpur, India, the company boasts a production capacity of 1.2 million meters annually, as of FY24. The company cater to various industries, including cement, sponge iron, power, and mining sectors.
SCBL’s product range includes world-class conveyor belts under the brand name ―Somiflex‖. It is among India’s top ten domestic conveyor belting players and offers a comprehensive range of conveyor belts, including the next-generation Somiflex series, designed to meet the diverse needs of industries.
Written by Shivani Singh
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