SYNOPSIS: This micro-cap company secured a Rs. 235 crore LOI from SAIL for installing a 140 TPH reheating furnace at Bhilai Steel Plant, supporting modernisation and capacity enhancement initiatives.
Shares of the company involved in design, manufacturing and supply of precision equipment and heavy fabrication structures surged more than 17 percent on Thursday, after securing an order worth Rs. 235 crores from Steel Authority of India Limited (SAIL) for Bhilai Steel Plant.
With a market cap of Rs. 388 crores, shares of Atmastco Limited were trading in the green at Rs. 156.95 on NSE, up by around 12 percent, compared to its previous closing price of Rs. 140.65. The stock has delivered negative returns of over 26 percent in the last one year, but has gained by nearly 12 percent in one month.
News
As per the latest disclosures with the NSE, Atmastco Limited has received a Letter of Intent (LOI) worth Rs. 235 crores from Steel Authority of India Limited (SAIL). The order pertains to the installation of a 140 TPH Walking Beam Type Reheating Furnace at the Plate Mill of Bhilai Steel Plant.
The proposed reheating furnace is expected to significantly enhance operational efficiency, throughput, and energy optimisation at the Plate Mill. The project aligns with SAIL’s broader strategy of modernisation and capacity augmentation aimed at improving overall plant performance and competitiveness.
Following the execution of the formal agreement, Atmastco Limited will initiate detailed engineering, procurement, supply, erection, testing, and commissioning activities in accordance with the specified technical parameters and project timelines.
Previously, on 24th January, Atmastco Limited inaugurated the state-of-the-art Atmastco Defence Systems (ADS) facility by the Hon’ble Governor of Chhattisgarh, Shri Ramen Deka.
This inauguration represents a key milestone in Atmastco’s defence manufacturing journey, significantly enhancing its existing presence and operational capabilities in the defence segment. This new facility reinforces the company’s commitment to strengthening national security through the production of bulletproof jackets and ballistic helmets.
In 2019, the company strategically diversified into defence manufacturing by setting up Atmastco Defence Systems Private Limited, securing critical DRDO licenses for bulletproof jackets and helmets.
Financials
Atmastco reported a marginal decline in revenue from operations, experiencing a year-on-year decrease of around 13 percent, from Rs. 139 crores in H1 FY25 to Rs. 121 crores in H1 FY26. Likewise, its net profit decreased during the same period from Rs. 14 crores to Rs. 11 crores, representing a decline of more than 21 percent YoY.
In FY26, Atmastco aims to capitalise on the expanding infrastructure pipeline and increased allocation to capital-intensive sectors. The management expects moderate growth in revenues and margins, driven by timely project execution, efficient cost management, and better working capital control.
Atmastco Limited have a strong presence in India’s industrial engineering sector through its three core verticals: Industrial Engineering & Trading, Structural Steel Fabrication, and EPC/Turnkey Projects.
The company has two advanced facilities in Bhilai, a manufacturing capacity of 49,500 MT per annum, and a skilled workforce of over 780 professionals. Additionally, Atmastco has delivered projects to leading private and public sector companies, including Vedanta HZL, Tata Steel, Adani, Jindal Stainless, NMDC, NTPC, L&T, JSW, and BHEL.
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