Rulka Electricals Order, Jupiter Wagons Fund Raise And H. G. Infra Engineering MOU

Rulka Electricals Ltd.

Recent filing: (ORDER) Rulka Electricals confirmed new orders worth INR 2.7 Cr from various clients. Palra Estate Private Limited has two projects totaling INR 33 L. Indospace Industrial Park Badli Pvt. Ltd. has two fire fighting projects totaling INR 1.4 Cr. Palava Induslogic 2 Pvt Ltd and Avenue Supermarts Limited (D-Mart Kundratur, TN) have fire fighting projects worth INR 6.5L and INR 90L respectively.

SUMMARY: 3y Operating Profit uptrend | 1h Operating Profit uptrend | PE 39.3x (Sector PE range 30-50) | Institutional Entry | IPO | Diversified Commercial Services

  • MCap of INR 240 Crore (share price = INR 561 / share) (as on 9th Jul ‘24)
  • TTM PE 39.3x (as on 9th Jul ‘24) Retail float = NA

FOOD FOR THOUGHT: Negative Operating cash flow for FY24.

What are the products and services of Rulka Electricals?

Company is a turnkey projects contractor specializing in providing comprehensive solutions for all types of Electrical and Fire Fighting projects. 

The company offers a wide range of services including Electrical Solutions, Electrical Panels, Solar EPC Contracts, Turnkey Electrical Warehousing Projects, Electric Commercial Industrial Services, Maintenance Services, Electrical Contracting, and Data & Voice Cabling Installation across various sectors such as Industrial, Commercial, Retail, and Theatre.

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Jupiter Wagons Ltd.

Recent filing: (FUND RAISE) BoD of Jupiter Wagons has approved the floor price of INR 689/share for Qualified Institutions Placement (QIP). Earlier On 7th May ’24, BoD had considered raising of funds for an amount upto INR 1000 Cr through QIP.

SUMMARY: 3y Operating Profit uptrend | 7q Operating Profit uptrend | PE 87.6x (Sector PE range 40-70) | Excellent Mar-24 results | Fund Raise | Institutional Entry | Promoter Buying | Capacity expansion | Acquisition | Railways

FUTURE OUTLOOK: Orderbook INR 7,102 Cr as of Mar 2024 (1.9x of TTM Revenue)

  • MCap of INR 29,122 Crore (share price = INR 706 / share) (as on 9th Jul ‘24)
  • TTM PE of 87.6x (as on 9th Jul ‘24) Retail float = 7.9% (Mar-24)

FOOD FOR THOUGHT: Steel and related products serve as raw materials, and their prices are volatile, potentially impacting margins | PE is above sector range.

What are the products and services of Jupiter Wagons?

Jupiter Wagons is complete transportation solutions engineer and one of the fastest growing in India's railway sector. It is one of few players in India's railway wagons sector with a captive foundry, one of the highest capacity complements and India's largest manufacturer of 25 tonnes wagons.

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H. G. Infra Engineering Ltd.

Recent filing: (MoU) H.G. Infra Engineering has entered into a Memorandum of Understanding with Ultra Vibrant Solar Energy Private Limited for acquiring shares or voting rights in the project companies by way of incorporating new companies or by taking shares of the existing company for the execution of the solar power plants project. 

Ultra Vibrant Solar Energy Private Limited has been awarded the new solar projects from Jodhpur Vidyut Vitran Nigam Limited (JDVVNL) for 83.02 MW (AC), which is proposed to be taken over by the Company.

SUMMARY: 6y Operating Profit uptrend | 2q Operating Profit uptrend | Excellent Mar-24 results | PE 21.1x (Sector PE range 8-25) | Infrastructure

FUTURE OUTLOOK: As per FY24 Con-call, Management has guided for a 15-20% growth in topline | Orderbook INR 12,434 Cr (Mar-24), 2.3x of TTM Revenue

  • MCap of INR 11,114 Crore (share price = INR 1,705 / share) (as on 9th Jun ‘24)
  • TTM PE of 21.1x (as on 9th Jul ‘24) Retail float = 9.0% (Mar-24)

FOOD FOR THOUGHT: Client concentration risk: Road projects from NHAI and ARTL contribute to 87% of orderbook as of Dec-23.

What are the products and services of H. G. Infra Engineering?

With a resilient two-decade journey, HGIEL has emerged as one of India's fastest-growing construction companies. Its dedication to quality and timely execution has been pivotal in establishing it as a trusted leader in the infrastructure industry. It is engaged in the business of EPC and Maintenance of roads, bridges, flyovers, etc.

Also Read: Jeena Sikho Lifecare Empanelment, Urban Enviro Waste Management Order And GPT Infraprojects Fund Raise