Artson Engineering rallied 3.86% to Rs 94.10 after the company announced that it has received a purchase order worth Rs 42.76 crore from Kutch Copper (wholly owned subsidiary of Adani Enterprises).
In an exchange filing, the company said that it has secured Rs 42.76 crore purchase order from Kutch Copper (100% subsidiary of Adani Enterprises) to manufacture & supply of 10 nos. gas to gas heat exchangers.
The said domestic order is to be executed in 11 months.
Artson Engineering the company has commissioned, on turn-key basis, several fuel storage and handling facility systems. The company is operating in one segment viz. supply of fabricated steel structure and site services of mechanical works.
The company reported a net loss of Rs 4.89 crore in Q1 FY23 as against a net profit of Rs 0.56 crore recorded in Q1 FY22. Net sales declined 4.1% year on year to Rs 37.40 crore in Q1 FY23.
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