Reliance Industrial Infrastructure Ltd., a small-cap company, closed today’s trading session with a market valuation of ₹1,268 Cr. A Reliance Group company Reliance Industrial Infrastructure Limited mostly deals in industrial infrastructure. Its primary activities include renting construction equipment and other infrastructure support services, as well as the transfer of petroleum products and raw water through its pipelines. The company primarily does business in the Gujarati provinces of Jamnagar and Surat, as well as the Maharashtrian areas of Mumbai and Rasayani.

“The Board of Directors have recommended, subject to approval of shareholders at the ensuing 35th Annual General Meeting, a dividend of ₹3.50 per fully paid-up equity share of ₹10/- each, aggregating to ₹528.50 Lakh for the financial year ended March 31, 2023,” said Reliance Industrial Infra in a stock exchange filing today.

On a consolidated basis, the company recorded a net income of ₹20.80 Cr during the quarter ended March 2023 as against ₹19.65 Cr reported during the quarter ended March 2022, representing a YoY growth of 5.85%. The company’s income from services stood at ₹17.63 Cr during Q4FY23 as against ₹16.39 Cr during the year-ago quarter representing a YoY growth of 7.56%.

Reliance Industrial Infrastructure said its profit before depreciation, interest, and taxes (PBDIT) reached ₹4.80 Cr up by 25% YoY from ₹3.84 Cr recorded during the same quarter of FY22 and its profit before tax (PBT) reached ₹3.74 Cr during Q4FY23, up by 177% YoY from ₹1.35 Cr during Q4FY22.

Reliance Industrial Infrastructure said it posted a consolidated net profit of Rs 11.54 Cr, up by, up by 988% YoY from ₹1.06 Cr and its EPS jumped from ₹0.71 in Q4FY22 to ₹2.40 in Q4FY23.

Reliance Industrial Infrastructure said it continues to provide infrastructure support services namely transportation of petroleum products and raw water through pipelines, construction machinery on hire, and other support services to Reliance Industries Group, with a substantial portion provided to Reliance Industries Limited.

The shares of Reliance Industrial Infrastructure closed today on the NSE at ₹837.10 apiece level, up by 0.12% from the previous close of ₹836.10. The stock touched a 52-week-high of ₹1,257.00 on (11-Oct-2022) and a 52-week-low of ₹716.00 on (20-Jun-2022). During Q3FY23, the company recorded a promoter shareholding of 45.43%, FIIs stake of 0.78%, DIIs stake of 0.03% and a public stake of 53.76%.

Commenting on the technical outlook of the stock, A R Ramachandran, Co-founder & Trainer-Tips2trades said “Even though Q4FY23 results are good with decent revenue growth, profits are higher only due to an exceptional item which could limit upside in the stock price. “Reliance industrial infrastructure has strong resistance at 870-890 zone on the Daily charts. A daily close below support of 811 could lead to lower target of 730 in the near term.”