Salasar Techno Engineering Ltd Share Price – NSE  /  BSE

Steel, Small Cap

Net profit of Salasar Techno Engineering rose 15.76% to Rs 16.97 crore in the quarter ended March 2024 as against Rs 14.66 crore during the previous quarter ended March 2023. Sales rose 24.65% to Rs 367.33 crore in the quarter ended March 2024 as against Rs 294.70 crore during the previous quarter ended March 2023.

For the full year,net profit rose 31.77% to Rs 52.93 crore in the year ended March 2024 as against Rs 40.17 crore during the previous year ended March 2023. Sales rose 20.25% to Rs 1208.43 crore in the year ended March 2024 as against Rs 1004.89 crore during the previous year ended March 2023.

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Salasar Techno Engg. will hold a meeting of the Board of Directors of the Company on 30 May 2024

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The scope of work includes plant design, supply & installation of 45.8 km, 110 KV double circuit Rukarara-Huye-Gisagara transmission lines.

Salasar Techno Engineering holds 51% stake in the joint venture company and the remaining 49% share will be held by Rail Vikas Nigam (RVNL).

The project is to be completed in 18 months and the cost of the project is $7.152 million which is equivalent to Rs 59.62 crore.

Salasar Techno Engineering is a provider of customized steel fabrication and infrastructure solutions in India. It provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment.

Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.

Shares of Salasar technologies fell 0.35% to end at Rs 20.01 while RVNL closed 1.15% lower at Rs 252.95 on the BSE.

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EMC has grown into a major EPC firm with a history of successfully delivering substantial projects. Since the 1970s, the company has exported galvanized steel towers, conductors, & hardware and of late has diversified its presence by taking up EPC projects in power transmission and substation sectors. Its turnover was Rs 707.03 crore in FY23.

The acquisition will strengthen the company's foothold in the EPC sector, particularly in the power transmission and substation segments, thereby expanding its market reach. With EMC's expertise in turnkey projects, the EPC firm can offer a broader range of services to its clients, catering to their evolving needs comprehensively. The synergies between the company and EMC will lead to operational efficiencies, cost optimization, and streamlined processes, enhancing overall productivity and profitability.

The management team of Salasar said: We are pleased to announce that we have received an LOI for the acquisition of EMC for Rs 178 crore, a strategic move that will strengthen our presence and position in the EPC industry, underscoring our commitment to growth and innovation.

Through this acquisition, we aim to capitalize on the synergies between the two companies and leverage EMC's expertise to enhance our service offerings. The addition of EMC’s capabilities will position us as a qualified bidder for executing 765 kV transmission line, substations, and industrial power system projects- a healthy margin business segment with limited competitors. This strategic move enables us to meet the evolving needs of our clients more comprehensively and deliver unparalleled value in the power transmission and substation sectors.

Salasar Techno Engineering is a provider of customized steel fabrication and infrastructure solutions in India. It provides 360-degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment.

The company's consolidated net profit jumped 56.20% to Rs 16.76 crore on a 26.20% increase in sales to Rs 303.88 crore in Q3 FY24 over Q3 FY23.

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