Shares of this small-cap company, involved in manufacturing steel structures and providing EPC services across the telecom, energy, and railways sectors, surged over 5 percent after the board approved its amalgamation with Hill View Infrabuild Ltd.
Price Variation
During Tuesday’s trading session, Salasar Techno Engineering Ltd.’s share price surged 5.5 percent, reaching an intra-day high of Rs.14.58, up from the previous close of Rs.13.82. The price has since slightly retreated and is currently trading at Rs.14.16. Over the last five years, the stock has delivered returns exceeding 1,100 percent.
What is the news
The Board of Directors of Salasar Techno Engineering Limited has approved the proposed Scheme of Amalgamation between Hill View Infrabuild Limited and Salasar Techno Engineering Limited.
Under the scheme, for every 100 equity shares of Rs.10 held in Hill View Infrabuild Limited, Salasar Techno Engineering Limited will issue 2,87,430 fully paid-up equity shares of Rs.1 each to the shareholders of Hill View Infrabuild.
Additionally, for every 100 equity shares of Rs.10 each in Hill View Infrabuild, Salasar Techno Engineering Limited will issue 8,358 fully paid-up 5 percent non-cumulative compulsory redeemable preference shares.
Business Operations
Salasar Techno Engineering primarily operates in the Industrial Consumables sector, with key products and revenue sources including steel fabrication, job work, export incentives, and other operational income.
The company is also involved in the telecommunications infrastructure sector, supplying towers and related services. It has established partnerships with telecom companies and has received recognition for its work in this area.
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Manufacturing Capabilities
Salasar Techno Engineering Ltd operates three advanced manufacturing plants in Uttar Pradesh, with a total capacity of 211,000 MTPA. This includes 196,000 MTPA for tower manufacturing and galvanization and 15,000 MTPA for heavy steel production.
Financial Overview
Turning towards the financials of the company, Salasar Techno Engineering Ltd reported Q2 FY25 revenue of Rs.281.49 crore, up slightly by 2.2 percent from Rs.275.35 crore in the same quarter last year. Profit After Tax (PAT) increased by 7 percent to Rs.9.68 crore, compared to Rs.9.05 crore in the same period.
Company Profile
Salasar Techno Engineering Limited is an India-based company that specializes in customized steel fabrication. The company manufactures and sells galvanized and non-galvanized steel structures, including telecom towers, transmission line towers (including for railway electrification – OHE), solar panels, and prefabricated steel structures like bridges.
Written by – Siddesh S Raskar
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