This Multibagger Small Cap Stock Gain 2% on Rs 385 Crore Jal Jeevan Mission Project

On July 11, 2025, Indian equity markets faced a broad sell-off. The Nifty 50 slipped below the 25,200 level, while the Sensex dropped nearly 700 points, trading under 82,500. Broader indices mirrored the decline, with the Nifty Smallcap index falling over 1%. Amid this weak market sentiment, one Small-Cap stock stood out—SPML Infra Ltd, which gained nearly 2.86 per cent in intraday trade, defying the overall downward trend.

The positive movement in SPML Infra’s share price is attributed to the announcement of a major infrastructure order. The company has secured a ₹385 crore water supply project under the Government of India’s Jal Jeevan Mission. The contract is based in Ajmer, Rajasthan, and includes a 10-year Operation and Maintenance (O&M) clause, offering predictable and recurring revenue for the long term.

The project, named “Water Production & Supply System for Kekri-Sarwar Sector Package-III,” aims to overhaul water supply infrastructure in the Ajmer district. It will draw water from the Bisalpur Dam and ensure efficient delivery to households. A key part of the project is a new 160 MLD water treatment plant to be built at Kekri. Additionally, two clear water reservoirs with a combined capacity of 37.75 MLD will be constructed—20 MLD at the Kekri campus and 17.75 MLD at IPS Nasirabad.

The contract also includes laying over 58.67 kilometers of mild steel pipelines to form a robust transmission network. Advanced pumping systems, SCADA (Supervisory Control and Data Acquisition) technology, instrumentation, and electrical-mechanical systems will be deployed to enhance operational efficiency. As part of the project, old infrastructure will be demolished and new administrative buildings and J-2 quarters will be constructed. The real-time monitoring enabled by SCADA, combined with the 10-year O&M agreement, will ensure smooth and sustainable operations.

Commenting on the development, Mr. Subhash Sethi, Chairman of SPML Infra Ltd, stated that the company is honoured to have been chosen for this significant assignment. He highlighted that the project strengthens SPML’s position in the water infrastructure segment and demonstrates its ability to deliver technologically integrated solutions. He also noted that the long-term O&M contract reflects the company’s commitment to system performance and sustainability.

SPML Infra Ltd is a prominent infrastructure player with over four decades of experience in water, power, environment, and technology. The company has completed more than 700 projects across India. It has played a key role in providing clean drinking water to over 50 million people. SPML is ranked 14th globally among the Top 50 Private Water Companies by GWI (London) and is consistently listed among India’s top 10 infrastructure companies. The firm also emphasises ESG compliance and innovation in all its infrastructure work.

On July 11, 2025,at 12:50 pm IST,  the stock price of SPML Infra Limited was Rs 279.70  per share, up by 2.86 per cent. The 52-Week High is Rs 302.90, and the 52-Week Low is Rs 136.30. SPML Infra Limited has a market capitalisation of Rs 952 crore. The company's 1-year return stands at 51.27 per cent, while the 3-year return is 458 per cent. The Price-Earnings (PE) Ratio is 41.8. Major public shareholders include Tusk Investments Limited with 3.99 per cent, Delhi Waste Management Ltd with 2.65 per cent, Anil Kumar Sethi with 2.48 per cent, SPML Industries Ltd with 2.13 per cent, and International Constructions Limited with 1.23 per cent.

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