The company is an EPC major that offers end-to-end construction services, including project design and management services to leading real-estate and government bodies in the country.
It is majorly owned by public shareholders with 61.35% holding, while promoters have about 38.65% stake in the company. Among the public shareholders, mutual funds have a combined stake of 2.5%, as of the March quarter, while foreign investors own 6.40%.
On Wednesday, Capacite Infraprojects shares surged over 8% in intraday trade to Rs 132.55 apiece on NSE. So far this year, the stock has lost nearly 16% on a year-to-date basis.
Capacite Infraprojects reported a revenue growth of 21% for the third quarter at Rs 443 crore, while EBITDA for the same period grew by 40% to Rs 90 crore.
The company’s order book on a standalone basis stood at Rs 9,764 crore as of December 2022. Public sector accounts for 67% of the total order book, while the private sector contributes 33%.
Recently, India Ratings and Research has downgraded its “long-term issuer” rating to ‘IND BB+’ and has placed the company on rating watch with negative implications.As per the rating agency, the downgrade reflects Capacite’s inability to tie up enhanced working capital limits and a delay in recovering its pending receivables.
The company said that there were delays in sanction of non-fund based limits and that it is continuously engaging with the consortium bankers to expedite the process.
“We are hopeful that the sanctions should happen shortly. Once the non-fund based limits are available, pending receivable in the form of retention monies and mobilisation advance from the existing on-going projects will be received,” it had said earlier.
Mukul Agarwal, who is known for picking multibaggers on the Street, publicly holds 56 stocks with a net worth of over Rs 2,760 crore, as of December quarter. Some of his top holdings include Paras Defence, Delta Corp, Karur Vysya Bank, Apollo Pipes among others.
