Ashish Kacholia holds 4.33% stake: Petrochemicals company receives order worth Rs 330.05 crore from Indian Oil Corporation Ltd (IOCL)

Agarwal Industrial Corporation Limited (AICL) has announced a significant achievement, securing a prestigious tender from Indian Oil Corporation Limited (IOCL) for the supply of bulk bitumen. The contract, which highlights AICL's growing reliability in the bitumen supply chain, involves the supply of both VG-30 and VG-40 grades to various locations in Kakinada. The firm quantity of the order is approximately 60,500 metric tons spread across 11 parcels, with an estimated value of around Rs 213.56 crore. Additionally, the tender includes an optional quantity of about 33,000 metric tons across 6 parcels, valued at approximately Rs 116.50 crore. This brings the total estimated value of the contract to Rs 330.05 crore, significantly strengthening AICL's relationship with IOCL.

Agarwal Industrial Corporation Ltd. is a diversified company primarily focused on the infrastructure and energy sectors. Their core business involves manufacturing and trading bitumen and allied products, which are crucial for various infrastructure projects. The company also provides logistics services for bulk bitumen and LPG transportation through its specialised tankers. Additionally, they generate clean energy through wind power, contributing to sustainable development.

An ace investor, Ashish Kacholia, owns a 4.33 per cent stake in the company. The company has a market cap of over Rs 1,300 crore and has delivered good profit growth of 36 per cent CAGR over the last 5 years. The stock is up by 25.2 per cent from its 52-week low of Rs 767.05 per share and has given multibagger returns of over 800 per cent in 5 years.

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