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Wealth destruction: This infra stock turned Rs 1 lakh into Rs 20,000 in a year

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Shares of Gayatri Projects have led to considerable wealth destruction for investors in one year. Gayatri Projects stock has tanked nearly 80 per cent in the last one year.  In comparison, Sensex has gained 0.69 percent during the period. The microcap stock, which closed at Rs 52.10 on September 21, 2021 fell to Rs 10.63 on September 22, 2022 (today). An investment of Rs 1 lakh in the Gayatri Projects stock on September 21, 2021 would have decreased to Rs 20,403 today amid weak sentiment in the global markets.

Gayatri Projects share has lost 64.29 per cent since beginning of the year. In one week, the stock has declined 14.55 per cent. However, the stock of the infrastructure firm has gained after five sessions of fall today. The stock rose 4.88 per cent to Rs 10.75 today. In a week, the stock has declined 14.55 per cent. Gayatri Projects share has fallen 80.60 per cent from its 52 week high of Rs 54.80 hit on September 23, 2021.

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Gayatri Projects shares trade lower than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Market cap of the firm rose to Rs 204 crore on BSE today. Total 3.22 lakh shares of the firm changed hands amounting to a turnover of Rs 33.87 lakh on BSE.

Six promoters held 40.20 per cent stake in the firm and 54,917 public shareholders owned 59.80 per cent stake or 11.19 crore shares for the quarter ended June 2022.

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Of these, 53,403 public shareholders held 24.83 per cent stake with capital up to Rs 2 lakh. Only 52 shareholders with 8.26 per cent stake held capital above Rs 2 lakh for the quarter ended June 2022. 18 foreign portfolio investors (FPIs) held 1.32 crore shares or 7.09 per cent stake in Q1 of the current fiscal. In terms of financials, the firm reported a weak set of earnings in the June quarter and last fiscal.

The firm reported a loss of Rs 391.90 crore in the June quarter against a net profit of Rs 22.91 crore in the corresponding quarter of the previous fiscal.

Sales plunged 68.50 per cent to Rs 282.56 crore in the last quarter against Rs 897.09 crore in the June quarter of 2021. Operating profit declined 350 per cent leading to a loss of Rs 273.32 crore for the quarter ended June 2022 against Rs 109.37 crore in the corresponding quarter of the previous fiscal. On a quarter-on-quarter basis, the firm’s net loss narrowed by 22.18 per cent from Rs 503.59 crore in the March 2022 quarter. Sales slumped 47.42 per cent in Q1 against Rs 537.36 crore in the March quarter of the previous fiscal.

On an annual basis, net profit declined 2,323.23 per cent leading to a loss of Rs 958.21 crore for the fiscal ended March 2022 against Rs 43.10 crore profit for the fiscal ended 2021. Sales fell 20.46 per cent to Rs 3,102.34 crore in the last fiscal against Rs 3,900 crore for the fiscal ended March 2021.

Gayatri Projects Limited is an India-based infrastructure company. The company’s operations consist of construction and project activities. The company has pan-India operations spread over 12 states and operates within several infrastructure verticals like roads, irrigation works, water distribution works, mining works and industrial construction projects. 

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