Penny stock under Rs 15: Road construction company signs tolling deal with IndianOil Total JV for bituminous product manufacturing!

Sanmit Infra Limited has announced a significant milestone, entering into a tolling agreement with IndianOil Total Private Limited on June 30, 2025. This collaboration, made public by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, involves Sanmit Infra undertaking the manufacturing and handling of Bituminous Emulsion and Bituminous Ready Mix Products. IndianOil Total Private Limited is a 50:50 joint venture between Indian Oil Corporation, a prominent Indian refiner, and TotalEnergies, a global energy company based in France. This partnership is expected to greatly enhance Sanmit Infra's credibility, open doors to large-scale business opportunities, and solidify its position within the national supply chain for bituminous products, which are crucial for road construction and maintenance.

Under the terms of the agreement, Sanmit Infra Limited will be responsible for specialised production, quality control, and supply chain support for these vital bituminous products. This strategic collaboration offers numerous benefits, including increased industry recognition and trust due to partnering with two global energy leaders, significant business growth from increased operational volume and involvement in national infrastructure projects, and a direct contribution to eco-friendly and cost-effective road-building solutions. Furthermore, the partnership presents opportunities for future joint research and development and establishes a long-term strategic value, potentially leading to deeper engagement and future project collaborations. The size of the agreement will be mutually decided by the parties based on the quantity of work.

Earlier, the company secured its fourth significant work order from GNI Infrastructure Ltd for 2,00,000 SQMT of Micro Surfacing Work on the HAM-AU101 Project, spanning Badnapur-Nanrgaon-Jamkhed-Akola-Mohora. This domestic contract, valued at Rs 2,71,40,000 (including 18 per cent GST), involves providing and laying a Micro Surfacing course with specific aggregate, binder and cement proportions. The project, commencing July 15, 2025 and concluding September 15, 2025, includes detailed terms for weekly joint measurements, payments within 7 days of bill submission, a 5 per cent retention and a 24-month Defect Liability Period covering specific surface failures. GNI Infrastructure will provide site space, electrification and water, while Sanmit Infra is responsible for all machinery, manpower, materials, fuel, QC/QA, supervision and execution.

About the Company

Sanmit Infra Ltd, established in 2000, is a diversified company focusing on petroleum products, trading, and infrastructure development. They offer services like bio-medical waste disinfection systems and road construction. Their petroleum business includes various oils and bitumen, while their infrastructure projects cover residential and commercial complexes in Mumbai and upcoming areas. The company is also implementing a GMS system for cremation using bamboo pellets to promote environmental sustainability.

The company has a market cap of Rs 168 crore and the stock is trading at under Rs 15. The stock is up 44.24 per cent from its 52-week low of Rs 7.55 per share.

Disclaimer: The article is for informational purposes only and not investment advice.