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This mining and mineral micro-cap company secured an order worth Rs 8,48,87,000 from Vedanta!

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This mining and mineral micro-cap company secured an order worth Rs 8,48,87,000 from Vedanta!
The order relates to exploration work at the Odishan state’s Kalarangitta Chromite Mines in Jajpur and Katasahi Manganese Mines in Barbil.

According to the most recent information, this micro-cap business has been granted a Letter of Intent by Vedanta FACOR (Ferro Alloy Corporation Ltd.), a division of Vedanta Limited, for the purpose of doing exploratory work at the Odishan state’s Kalarangitta Chromite Mines in Jajpur and Katasahi Manganese Mines in Barbil. The contract is worth about Rs 848.87 lakh in total, plus any applicable GST. This is a short-term project that should be finished in five months.

Southwest Pinnacle Exploration Limited was founded in 2006 and is an exploration and drilling company focused on coal, minerals, and coal-bed methane. Offering comprehensive services in mineral and unconventional energy resource exploration, SWPEL is an ISO 9001:2015 certified company. Drilling and exploring coal, minerals, and coal-bed methane are their areas of specialization.

share results:

With a market valuation of Rs 287.39 crore, the company’s shares closed Tuesday at about Rs 103 a share. Over the course of the period, the stock has produced a negative return.

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Performance financially:

The company recorded sales of Rs 45 crore in Q4 FY24 as opposed to Rs 38 crore and a net profit of Rs 2.24 crore as opposed to Rs 3.33 crore, per the Quarterly Results. The business recorded revenue of Rs 133 crore in FY24 as opposed to Rs 124 crore, and a net profit of Rs 7 crore as opposed to Rs 8 crore the year before.

This micro-cap stock is one that investors need to be aware of.

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