Kridhan Infra jumps after winning orders

Kridhan Infra rose 4.29% to Rs 82.60 at 9:43 IST on BSE after the company said its associate company won new orders worth Rs 74.20 crore.

The announcement was made after market hours yesterday, 10 July 2018.

Meanwhile, the S&P BSE Sensex was up 53.89 points, or 0.15% to 36,293.51.

On the BSE, 23,000 shares were traded in the counter so far compared with average daily volumes of 24,000 shares in the past two weeks. The stock had hit a high of Rs 85 and a low of Rs 80.80 so far during the day. The stock hit a record high of Rs 142 on 5 January 2018. The stock hit a 52-week low of Rs 66 on 5 July 2018.

Kridhan Infra (KIL) announced that its associate company Vijay Nirman Company (VNC) has won new orders worth Rs 74.20 crore. These orders encompass construction work at IGI Airport, Delhi. These orders are to be completed within 5-7 months.

KIL currently owns approximately 41% stake in VNC and hence, VNC operates as an associate company of KIL.

Kridhan Infra's proforma order book after consolidation of VNC in India and Swee Hong in Singapore, stands at over Rs 3500 crore, as on 31 March 2018, of which, VNC contributes to almost 80%.

On a consolidated basis, net profit of Kridhan Infra declined 85.33% to Rs 3.39 crore on 2.85% decline in net sales to Rs 177.16 crore in Q4 March 2018 over Q4 March 2017.

Kridhan Infra is an infrastructure solutions company. The company is one of the pioneers in introducing the concept of ready-to-use steel for the construction industry in India.

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