During Thursday’s trading session, the shares of a company primarily involved in the business of infrastructure activities hit a 5 percent circuit at Rs. 1,334.4 on BSE, after its Dubai-based subsidiary secured multiple orders worth Rs. 251 crores to supply precious stones to global clients.
With a market cap of Rs. 13,512 crores, the shares of Bharat Global Developers Limited opened in the green at Rs. 1,334.4, as against its previous closing price of Rs. 1,270.9.
What’s the news:
A wholly-owned subsidiary of Bharat Global Developers, based in Dubai, secured multiple orders to process and supply high-value precious stones, including diamonds, rubies, emeralds, and sapphires, to leading wholesalers and custom designer jewellery boutiques.
Additionally, the subsidiary has been entrusted with the refining and supply of precious metals, such as gold and palladium, to global clients. According to the latest regulatory filings with the BSE, the total value of these orders is around AED 109 million, equivalent to Rs. 251 crores.
These orders significantly enhance the subsidiary’s revenue prospects and are expected to generate an estimated profit margin of 10-12 percent upon successful completion over the coming months.
Previous News & Order:
On 4th November, Bharat Global AgroTech Private Limited, the AgriTech Division of Bharat Global Developers Limited, secured its first major order worth Rs. 300 crores from McCain India Agro Private Limited. The order was to supply 2 lakh tonnes of freshly procured Kufri Ashoka potatoes over a period of six months, beginning in FY25.
On 7th November, the company secured an Infrastructure Engineering order worth Rs. 120 crores from Reliance Industries Limited, involving the design, engineering, and construction of a Full-Fledged High Capacity Fluidised Catalytic Cracker (FCC) unit.
On 18th November, the Board of the company approved the issue of bonus shares in an 8:10 ratio, which means, 8 new bonus shares for every 10 existing equity shares with a face value of Rs. 10.
Further, the Board also approved the stock split of equity shares (1:10 ratio) to a face value of Re. 1 per equity share from the existing face value of Rs. 10 per equity shares.
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Financials:
The company reported an impressive growth in revenue from operations, experiencing a quarter-on-quarter increase of nearly 300 percent, rising from Rs. 54 crores in Q1 FY25 to Rs. 216 crores in Q2 FY25.
Similarly, during the same period, the company’s net profit increased from Rs. 3 crores to Rs. 10 crores, representing a rise of around 233.3 percent QoQ.
Key Financial Ratios:
In terms of key financial metrics, Bharat Global Developers has a Return on Equity (RoE) of 6.56 percent and a return on capital employed (RoCE) of 8.55 percent. Additionally, the company’s debt-to-equity ratio stands at 0.29.
Stock Performance:
The stock has delivered multibagger returns of nearly 5,511.4 percent in one year, as well as around 538.5 percent returns in the last six months. So far in 2024, the shares of Bharat Global Developers have given multibagger returns of about 2,298.3 percent.
About the company:
Incorporated in 1992, Bharat Global Developers Limited, formerly known as Kkrrafton Developers Limited, is engaged in the business activities of Construction of buildings carried out on an own-account basis or on a fee or contract basis.
The company specialises in sourcing, importing, and exporting a wide range of products spanning industries such as textile, agriculture, consumer goods, and more.
Written by Shivani Singh
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