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The main objective of the new subsidiary is to manufacture metal frameworks or skeletons for construction, including towers, masts, trusses, bridges, and other related components.
The company holds 100% of the share capital of Bondada Green Engineering Private. Hence, it’s a wholly owned subsidiary of the company.
Bondada Engineering is a infrastructure company that provides engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services to customers in the telecom and solar energy industries throughout India.
The company’s consolidated net profit stood at Rs 14.69 crore in H1 FY24, steeply higher than Rs 4.35 crore posted in H1 FY23. Net sales soared 152.8% YoY to Rs 295.72 crore in H1 FY24.
The scrip rallied 3.69% to ends at Rs 1142.40 on Wednesday, 10 April 2024.
The market is closed today on account of Id-Ul-Fitr (Ramzan Id).
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