Bondada Business Update, Vishnu Prakash Order, Som Distilleries Excellent Results

Bondada Engineering Ltd.

Recent filing: (BUSINESS UPDATE) For the 9 months ending Dec-23, Revenue grew by 2.6x from INR 209 Cr in Apr-Dec 2022 to INR 539 Cr in Apr-Dec 2023. This also implies a revenue growth of 2.6x from INR 92 Cr in Dec-22 quarter to INR 243 Cr in Dec-23 quarter. As on 31st Dec 2023, the Company has a closing order book of INR 1,695 Cr out of which majority of the order book is for EPC contracts which needs to be delivered in the next 12 to 18 months. Company is also participating in many tenders. 

Currently it stands as L1 in 2 tenders worth INR 1,127 Cr from a PSU for implementation of solar power plants to the tune of 275 MW. The order value includes both EPC and its maintenance for the next 10 years. Company is also awaiting 120 MW solar power plant order from KPI Green Energy on full EPC basis. Company has also participated in one tender floated by NLC India Limited (Neyveli Lignite Corporation) for implementation of solar power plant for 70 MW on BOP (balance of plant) basis. Technical and financial bid is yet to open.

SUMMARY: 3y Operating Profit uptrend | PE 40.1x (Sector PE range 30-50) | Excellent Sep-23 results | Orderbook of INR 1,695 Cr (Dec ‘23), 3x of TTM Revenue | 5G+Solar Infrastructure

  • MCap of INR 1082 Crore (share price = INR 430 / share) (as on 18th Jan ‘24)
  • TTM PE of 40.1x (as on 18th Jan ‘24) Retail float = 17.4% (Sep-23)

What are the Products and Services of Bondada Engineering?

Bondada is an infrastructure company that specializes in offering engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services to clients in the telecom and solar energy sectors across India. Its expertise encompasses core design and engineering, with a focus on passive telecom infrastructure services such as construction, operation and maintenance of telecom towers, optical fiber cables and related infrastructure.

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Vishnu Prakash R Punglia Ltd.

Recent filing: (ORDER) Vishnu Prakash R Punglia Ltd. has received Letter of Award worth INR 116.5 Cr from DRM Office, NW Railway, Jodhpur, Rajasthan for FOB 12 M wide at 10+ stations over IR tracks to provide end to end connectivity under Amrit Bharat station Scheme over Jodhpur Division.

SUMMARY: 6y Operating Profit uptrend | PE 26.9 (Sector PE range 20-50) | Excellent Sep-23 results

  • MCap of INR 2,632 Crore (share price = INR 211 / share) (as on 18th Jan ‘24)
  • TTM PE of 26.9x (as on 18th Jan ‘24) Retail float = 8.8% (Sep-23)

What are the Products and Services of Vishnu Prakash R Punglia?

Established in 1986, Vishnu Prakash is a fast-growing Infrastructure Development Company. Its principal business operations are Infrastructure Development Works on EPC mode including their operation and maintenance activities in sectors including: Water, Sewerage, Railway, Road, Tunneling Works, etc.

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Som Distilleries & Breweries Ltd.

Recent filing: (EXCELLENT RESULTS) For the quarter ending Dec-23, Sales up 79% from INR 149 Cr in Dec-22 to INR 266 Cr in Dec-23. Similarly, Net Profit up 64% from INR 11 Cr to INR 18 Cr. QoQ comparison is not valid given it is a seasonal business.

(FUND RAISE) BoD approved the raising of funds worth INR 350 Cr.

SUMMARY: 3y Operating Profit uptrend | PE 28.6x (Sector PE range 30-70) | Excellent Dec-23 results | Promoter buying | Fund raise | Capacity expansion | Geographical expansion | Consumption

  • MCap of INR 2,360 Crore (share price = INR 304 / share) (as on 18th Jan ‘24)
  • TTM PE 28.6x (as on 18th Jan ‘24) Retail float = 25.3% (Dec-23)

What are the Products and Services of Som Distilleries?

Som Group has its portfolio of brands across the spectrum of Spirits, Beer, Alcopop. SOM’s flagship brand Hunter is a forerunner in the strong beer category.