SME stock Krishca Strapping secures order from Vedanta Limited; details inside
This success enhances Krishca’s eligibility for larger contracts with Public Sector Undertakings and sets the stage for future growth and expansion.
About the order
Krishca Strapping Solutions Limited, a leading provider of packaging solutions in the steel industry, secured a significant Rs 20.25 crore packing contract from Vedanta Limited. This 3-year contract, starting April 1, 2024, is Krishca’s largest and third major contract this year, marking their first collaboration with Vedanta. It encompasses lashing, choking, and tarpaulin coverage for finished goods trucks and containers.
This success enhances Krishca’s eligibility for larger contracts with Public Sector Undertakings (PSUs). To better serve the eastern zone, Krishca plans to establish a warehouse and office space near Jharsuguda. This dedicated facility will manage existing and prospective contracts with a specialised team, collaborating closely with Vedanta’s logistics team in Jharsuguda.
This partnership positions Krishca as a trusted contributor to Vedanta’s logistics, solidifying its position as a leader in the strapping industry and setting the stage for future growth and expansion.
Financial Performance
In Q3FY24, the company posted a revenue of Rs 27.62 crore. The operating profit of the company stood at Rs 5.71 crore, while the PAT of the company stood at Rs 3.44 crore. The company has a PAT margin of 12.46% and an EBITDA margin of 20.66%.
Business Overview
Krishca Strapping Solutions Limited is a startup venture in the business of manufacturing Steel Straps, Seals, and providing other allied packaging solutions with the vision of providing total packaging solutions to the steel industry. It started its commercial production at its Chennai plant in March 2020. Crafting a high-calibre product at a good value for customers is the fundamental objective of the company. The company secures a substantial competitive edge by harnessing cutting-edge technology.
Stock Price Movement
Today, the stock opened at Rs 234, with a high and low of Rs 267.50 and Rs 234, respectively. The stock is currently trading at Rs 257.40, which increased by 13.37%. The stock has a 52-week high of Rs 305 and a 52-week low of Rs 96.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.