Enviro Infra Share Price Tumbles Ahead Of Q2 Earnings Announcement
Enviro Infra Engineers' price band for its trading circuit was revised from 20% to 10% on the national exchanges.
Shares of Enviro Infra Engineers Ltd. slipped 10% in early trade on Wednesday, after the company's price band for its trading circuit was revised from 20% to 10% on the national exchanges.
This comes ahead of Enviro Infra's announcement of its financial performance for the quarter ended Sept. 30, on Wednesday. The company's total income for the nine-month period ended Dec. 31, 2023 was Rs 4,285 crore, as per financial records shared in the pre-IPO documents.
In fiscal 2023, revenue stood at Rs 3,381 crore, up from Rs 2,235 crore a year ago. The company's profit rose from Rs 345 crore in fiscal 2022 to Rs 550 crore in fiscal 2023. However, it posted a loss of Rs 86 crore in 2021.
Enviro Infra Engineers is engaged in designing, constructing, operating and maintaining water and wastewater treatment plants, and water supply scheme projects for government authorities and bodies.
The treatment process set up by the company at most of the STPs is zero liquid discharge-compliant and the treated water can be used for horticulture, washing, refrigeration, and other process industries.
The company has completed 26 wastewater treatment plants, and water and sanitation sector projects across India in the past seven years, which includes 20 projects with 10 MLD capacity and above as on Dec. 31, 2023.
Enviro Infra Engineers Share Price Today
Share price of Enviro Infra fell as much as 10% to Rs 342.53 apiece. It pared losses to trade 9.22% lower at Rs 345.49 apiece, as of 10:26 a.m. This compares to a 0.36% decline in the NSE Nifty 50.
The stock has risen 67.21% on a year-to-date basis. The relative strength index was at 76.75.
