Salasar Techno shares extend gains after Q4 results, soar 8% today

Shares of Salasar Techno Engineering surged for a straight second session on Monday after the company announced its results for the March 2023 period on Saturday. The company also announced a dividend for the shareholders of the company along with the earnings.

Salasar Techno Engineering's net profit for the quarter that ended on March 31, 2023, more than doubled on a year-on-year (YoY) basis to Rs 14.66 crore, compared to a net profit of Rs 7.20 crore in the same quarter last year. The company had clocked a bottom line of Rs 10.73 crore in the December 2022 quarter.

The revenue from operations increased about 39 per cent on YoY basis to Rs 294.7 crore in the March 2023 quarter compared to Rs 212.28 crore in the year-ago period. Its EBITDA surged 130 per cent YoY to Rs 19.86 crore in Q4FY23, against Rs 8.68 crore in Q4FY22.

Shares of Salasar Techno Engineering jumped 8 per cent to Rs 48.8 on Monday as the company commanded a total market capitalization of more than Rs 1,460 crore. The stock has surged 14 per cent in two days as it rose over 5 per cent to settle at Rs 45.23 on Friday at BSE.

Salasar Techno clocked a net profit of Rs 40.17 crore for the entire year 2022-23, which is 28 per cent higher than the previous year, when its net profit stood at Rs 31.44 crore. The revenue from operations increased 40 per cent to Rs 1,004.9 crore during the period under review.

Shares of Salasar Techno have turned multibagger in the last one year as the stock has delivered a return of more than 100 per cent from its 52-week low at Rs 22.40 on May 26, 2022. The stock has surged a whopping 1,100 percent from its Covid-19 lows around Rs 3.9. However, it is down 17 per cent in the year 2022 so far.

The company board of Salasar Techno Engineering also recommended a final dividend of Rs 0.10 per equity share, amounting to 10 per cent of the face value of Rs 1 each, subject to approval from the shareholders of the company.

Established in 2006 as a tower manufacturer, Salasar Techno Engineering has emerged as a fast-growing Steel structure manufacturer & EPC infrastructure company, providing services across telecom, energy and railways sector.  The New Delhi-based firm recently secured its first offshore contract of Rs 143 crore from the Nepal government. 

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