Interarch Building Products' stock is presently up 11.29 per cent at Rs 1290 following the company's announcement of a new order win totalling Rs 634 crore in FY25.
The shares of Interarch building materials zoomed more than 11 per cent on the Indian stock exchange. The stock opened at Rs 1,236.60 per share on NSE. The stock touched a day high level of Rs 1,347.80 per share.
The stock has recently gone through IPO proceedings and was listed at Rs 1,291.20 per share on the NSE (National Stock Exchange).
Orders received
For the current fiscal year, Interarch Building Products has obtained fresh orders totalling Rs 633.5 crore. For Q2 FY25 through September 14, 2024, the company secured orders totalling Rs 293 crore.In the first quarter, the company secured new orders totalling Rs 341 crore. The company's order book was valued at Rs 1,350 crore as of September 14, 2024.
Interarch Building Products obtained multiple large orders in FY25, demonstrating its robust market position. Three of the company's major orders in Q1 FY25 were worth Rs 114 crore from Reliance Industries, Rs 60 crore from Ampin Solar, and Rs 19 crore from Vinplex Logistics.
Company financials
In comparison to the same quarter last year, when it was Rs 293 crore, the total revenue for the quarter increased slightly to Rs 303 crore. For the quarter that ended in June 2024, profit after tax increased slightly to Rs 20.2 crore from Rs 19.3 crore in the same previous quarter.
In contrast to the Rs 28.3 crore of the previous quarter, the company reported a strong operating profit of Rs 30.
Investor response to IPO
During its public offering, the company received an tremendous response; the entire offering was oversubscribed by 93 times, raising approximately Rs 40,000 against the requested Rs 600 crore, which included a fresh Rs 200 crore offering and an offer of Rs 400 crore for sale by current promoters.
