Mukul Agrawal inventory jumps 4% after receiving a contract value ₹ 250.65 Cr from Materials Development

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The shares of the water and surroundings administration answer supplier gained as much as 4 % after the corporate obtained a contract from Materials Development, UAE value Rs 250.65 crore. 

With a market capitalization of Rs 7,714.66 crore, the shares of Ion Alternate (India) Ltd closed at Rs 526.00 per share, growing round 1.57 % as in comparison with the earlier closing value of Rs 517.85 apiece. 

In response to the change submitting, Ion Alternate (India) Ltd has obtained a contract from Materials Development, UAE for engineering, manufacturing, supply to website, supervision of erection, commissioning, and start-up of a desalinated water unit for a challenge in North Africa. The contract worth is Rs 250.65 crores excluding VAT and different taxes. The challenge should be completed inside seven months following Engineering’s approval. 

Wanting on the firm’s financials, Ion Alternate (India) Ltd’s gross sales elevated by 8% from Rs 512 crore in Q3FY23 to Rs 554 crore in Q3FY24. Throughout the identical time-frame, web revenue decreased by 2% from Rs 48 crore to Rs 47 crore. 

As of the December quarter of 2023-24, Ace Investor Mukul Mahavir Agrawal owned 15,00,000 fairness shares, representing a 1.02% curiosity within the agency. 

Along with its presence in key Indian cities, the agency has a worldwide footprint, with 36+ gross sales and repair places and 100+ channel companions. Exports embrace Africa, Japan, the Center East, Russia, Southeast Asia, Europe, the UK, the USA, Canada, and adjoining nations. 

In FY23, the Engineering part generated 60% of the corporate’s gross sales, adopted by the Chemical compounds section (30%), and shopper merchandise (10%). The corporate’s main shoppers embrace NTPC, NPC, Reliance, IOCL, JSW, CPCL, L&T, Nippon Metal, Nayara Vitality, IRCTC, BHEL, and Tata Group. 

Ion Alternate (India) offers a complete vary of options throughout the water cycle, together with pre-treatment, course of water remedy, wastewater remedy, recycling, zero liquid discharge, sewage remedy, packaged ingesting water, and seawater desalination. 

Written by:- Abhishek Singh 

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