Multibagger small-cap stock (BLK) resumed its winning streak in Tuesday’s intraday session on November 25, rallying 5.16% to ₹49.69 apiece as sentiment turned positive following an order win.
The company, through an exchange filing today, informed investors that it had secured an order worth ₹254.22 crore from DLF Home Developers. The order is for civil structure, rough finishing & waterproofing works, including one high-rise tower and ancillary low-rise buildings, as well as other ancillary structures. The project needs to be completed within 37 months from the start of execution.
The company also said that the promoter or promoter group companies have no interest in the entity that awarded the order. It further clarified that the order does not fall under related-party transactions.
The company’s order book at the end of the September quarter stood at ₹4,087 crore, with Haryana and Karnataka making the largest contribution to the overall order pipeline. The size of the order book is nearly 3.54 times higher than its FY25 revenue of ₹3,000 crore.
The company reported a net loss of ₹8.63 crore in Q2 due to higher operating costs. In the same period last year, the company had posted a profit of ₹9.38 crore. Revenue from operations during the reporting quarter came in at ₹355.13 crore, compared to ₹267.28 crore in Q2 FY25.
At the operating level, EBITDA remained flat at ₹20.47 crore, while margins fell sharply by 180 basis points YoY to 5.76% in Q2.
Looking ahead, the company is targeting an increased share of government projects (25% by FY27). It also aims to expand its presence in the railway sector, capitalizing on its experience in railway projects.
B L Kashyap and Sons share price trend
The company’s shares have been under severe selling pressure, having closed the last four months, including November, lower, falling a cumulative 32%.
This weak performance has also dragged the stock down by 38% year-to-date. If it ends the year in negative territory, which appears likely, it will mark its first yearly drop in five years and the biggest annual decline since 2019, when it fell by over 60%.
Despite the sharp correction, the sustained performance in previous years still leaves the stock trading with multibagger gains. It is up 500% over the last five years, and from its all-time low of ₹3.30 apiece, it is trading with a massive gain of 1,400%.
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