Norwegian clean-tech company TECO 2030 and Indian firm Advait Infratech Limited have partnered to expand fuel cell technology in India. TECO 2030 produces zero-emission hydrogen fuel cell stacks and modules for maritime and heavy industries, and Advait Infratech focuses on power infrastructure and green energy markets.
During the recent financial quarters, the company’s basic business indicators, viz, its operating revenues as well as after-tax profits, reported a jump in numbers with the former taking an upward shift from Rs 47.98 crores during Q2FY24 to Rs 72.51 crores during Q3FY24, and the latter, during the same period, moved up from Rs 4.98 crores to Rs 7.73 crores.
Keeping a purview of the last six months, the company’s stock has proven to deliver multibagger returns of approximately 240 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock six months ago, it would have converted to Rs 3.40 lakhs.
According to the latest presentations as of the December 2023 quarter, the company’s total order book stands at approximately Rs 173 crores. Out of the same, the majority contribution is by the ‘EPC’ orders, followed by the ‘Manufacturing’ orders, orders from ‘overseas’, and ‘Green Hydrogen’ orders.
Advait Infratech Limited is an India-based company supplying tools and equipment for the construction of transmission lines. Various products and solutions offered by the company include optical fibre ground wires, OFC cables, insulators, earthing Solutions, and many more.