The share price of JMC Projects (India) rallied over 16 percent in the early trade on Wednesday after the company secured two new orders worth Rs 554 crore.
The company has received a building project in South India totaling Rs 315 crore and a factory project in Maharashtra of Rs 239 crore.
“These new orders will strengthen our portfolio and will help us further expand our client base in the Buildings & Factory (B&F) market," said SK Tripathi, CEO & Dy Managing Director, JMC Projects.
JMC has won orders of around Rs 4,000 crore so far in FY21 despite the challenging market conditions, he said, adding that it reflects the company's "impeccable reputation for domain expertise, prudent tendering and client confidence".
He further said that the company is confident of delivering good performance going forward as its execution capabilities remain intact and the order book continues to be strong. The company’s total order book as on June 30, 2020, stood at Rs 11,412 crore.
JMC Projects had reported a standalone revenue of Rs 470 crore in the first quarter of fiscal of 2021 while it posted a net loss of Rs 22 crore during the quarter. The company reported core EBITDA at Rs 28 crore and EBITDA margin at Rs 5.9 percent.
At 10:10 am, the shares of JMC Projects were trading 10.74 percent higher at Rs 59.30 apiece on the BSE.
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