Markolines Pavement Tech spurts on bagging order worth Rs 72.78-cr

Markolines Pavement Technologies surged 10.05% to Rs 190 after the company announced that it has secured a service order worth Rs 72.78 crore from Varanasi Aurangabad NH-2 Tollway.

The order involves Stone Matrix Asphalt (SMA) and Bituminous Concrete (BC) rectification work along the National Highway 2 in Bihar, specifically from 843 Km to 866 Km.

In a regulatory filing, the company confirmed that none of its directors, promoters, or promoter group entities has any financial interest in the entity awarding the order. Additionally, the company clarified that this service order does not fall under the category of related party transactions. Markolines further stated that all its work orders and contracts are received from domestic entities.

Markolines Pavement Techs is engaged in the business of providing highway operations & maintenance services Since inception the Company has shown increasing trend in the revenues by endeavoring to reach consumers at large by providing quality products.

On full year basis, the company's consolidated net profit increased 7.8% to Rs 16.98 crore on 11.4% jump in revenue from operations to Rs 347.29 crore in FY24 over FY23.

As on 25 November 2024, the companys market capitalization stood at Rs 411.48 crore on the BSE.

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