400% Return In 3 Yrs, Multibagger Stock Declares 10% Dividend

Small-cap firm Salasar Techno Engineering Ltd operates in the industrial industry. According to a stock exchange filing, the board at a meeting held on September 23 discussed and authorised the dividend on equity shares, which is why the stock is in the spotlight today.

A 10% dividend has been decided by the board for each equity share with a nominal value of Rs 1. This equals Rs 0.10 per share dividend in the nation's currency.

"Declaration of Dividend on Equity Shares at the rate of 10% i.e. ₹ 0.10 (Ten Paisa Only) per Equity Share of face value of Re. 1/- each for the Financial Year ended March 31, 2023," said Salasar Techno Engineering in a stock exchange filing.

On 18th September, Salasar Techno Engineering secured a massive EPC Contract valued at USD 9.40 Mn (Rs. 752.38 Mn) from Energy Development CorporaKon Ltd.

"Salasar Techno Engineering Ltd. (STEL), engaged in manufacturing of large & heavy steel structures, and providing customized steel structures and EPC solutions to diverse range of industries including telecom, power, railways and others has bagged an EPC contract worth USD 9.40 Mn from Energy Development CorporaHon Limited for setting up of 110kv transmission line," it said in a stock exchange filing statement.

"STEL a leading player in the field of engineering and infrastructure solutions, has been awarded a prestigious contract worth USD 9.40 Mn equivalent to Rs. 752.38 Mn by Energy Development CorporaHon Ltd. for the Rwanda Transmission System Reinforcement and Last Mile ConnecHvity project. This order is in line with the managements vision to provide exceptional and cutting edge EPC solutions across international markets," a statement reads.

The aforementioned deal raises its order book even further and is anticipated to be finished in 18 months.

Commen&ng on the order win, the management team of STEL said: "We are delighted to announce a significant achievement that underscores our commitment to excellence and our capabilities in delivering cuCng-edge infrastructure solutions. STEL has secured a monumental EPC contract valued at USD 9.40 million (Rs. 752.38 Mn) for designing, supply, and installation of a 110kV transmission line in the African region of Rwinkwavu-Kirehe, Gabiro-Nyagatare, and Rulindo-Gicumb. This order has enabled us to expand our presence in exports market serving as a testament to the trust placed by the foreign clients on STEL's capability to execute the orders promptly while upholding the best in-class industry standards."

"Africa, with its vast potential and growing energy demands, remains a region of promising market with enormous growth potential and our achievement in securing this contract underscores our established reputation for technical excellence, dependability, and strong international competitiveness. Moreover, the 110kV transmission line project is a highly specialized endeavour that demands a deep understanding of power transmission, engineering, and project management. STEL's technical prowess and proficiency in handling complex projects were instrumental in securing this contract," stated the management.

"Lastly, we remain focused on our core mission of delivering exceptional engineering and constructional solutions to our customers while driving sustainable growth to our stakeholders. We will continue to invest in our network and technology, while also exploring new opportunies for growth and innovation. We would like to conclude by thanking our whole team who have stood tall with us in every situation," the management further added.

On Monday, the shares of Salasar Techno Engineering opened on the BSE at Rs 51.50 apiece and were trading at Rs 51 with a downside gap of 0.33 points or (-0.64%) while writing this copy.