East India Drums & Barrels Manufacturing Ltd. Secures Major Orders from Bharat Petroleum, Stock Soars Over 300% from 52-Week Low

East India Drums & Barrels Manufacturing Ltd. (EIDBL) has recently achieved notable success, particularly with significant orders from Bharat Petroleum Corporation Ltd. Here’s an overview of the key developments regarding the company:

Recent Highlights

1. Substantial Orders Secured:
   • EIDBL has been awarded substantial contracts by Bharat Petroleum for:
     • 1,02,000 210 MS Barrels for the Loni Plant, valued at ₹18.82 crore.
     • 1,38,000 210 MS Barrels for the Wadilube Plant and C-Lube, valued at ₹23.36 crore.
     • 2,00,000 drums with a capacity of 165 litres each for the Khalapur Terminal, valued at ₹18.17 crore.
   • Deliveries for these orders are expected to begin in the second week of November 2024.
2. Market Performance:
   • The company’s shares recently hit a 5% upper circuit and reached a new 52-week high of ₹6.32.
   • EIDBL currently has a market capitalization of ₹9 crore.
   • The stock has delivered remarkable multibagger returns, increasing over 300% from its 52-week low of ₹1.47.
3. Company Overview:
   • Established in 2013, EIDBL is recognized as a leading MSME unit specializing in manufacturing high-quality drums and barrels.
   • The company has consistently provided reliable packaging solutions to major public sector oil companies, including Indian Oil and Hindustan Petroleum, as well as reputable private sector firms like Huber Group and DIC India.
   • EIDBL operates state-of-the-art manufacturing facilities in Daman, Sonipat, and Karjat, producing a diverse range of drums and barrels for various industries, including petroleum, chemicals, food, and paints.
4. Commitment to Quality and Innovation:
   • EIDBL adheres to international quality standards, holding certifications such as ISO 9001, ISO 45001, and ISO 14001, which ensures the safety, health, and environmental sustainability of its operations.
   • The company sources raw materials from global leaders like POSCO Steel and Tata Steel, ensuring the highest quality for its products.
   • EIDBL is one of the first companies registered as a packaging supplier with the Security Printing and Minting Corporation of India, which underscores its commitment to providing secure and compliant packaging solutions.

Conclusion

With a robust order book and impressive stock performance, EIDBL is positioned for continued growth in the packaging industry. However, investors are encouraged to conduct thorough research and evaluate their financial circumstances before making investment decisions.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please conduct your own research and consult with a financial advisor before making any investment decisions.