Shares of RBM Infracon Limited hit a 5% upper circuit on 1 January after the company announced securing a work order worth Rs 81.75 crore.

In its regulatory filing, the company said that it had received a letter of Intent (LoI) from BN Agritech Limited for providing EPC (engineering, procurement, and construction) services for a total consideration of Rs 81.75 crore.

The said order has to be executed within a period of 1 year.

In its quarterly report for July-September, the company reported its net profit for the quarter at Rs 2.21 crore from Rs 2.03 crore reported in the same quarter last year.

The revenue from operations for the quarter stood at Rs 83.19 crore, marking a 74.99% year-on-year increase from Rs 47.54 crore reported in the same quarter of the previous fiscal year.

The company is engaged in the business of providing EPC services, operation and maintenance, and much more for petrochemicals, oil and gas, fertilisers, cement, and other sectors.

They have a strong customer base along with well-known players like Nayara Energy Limited, Reliance Limited, and many more.

At 3:30 pm, the shares of RBM Infracon Limited closed 5% higher at Rs 465.35 on NSE.