PNN
Gandhinagar (Gujarat) [India], October 9: Sanmit Infra Ltd - leading company engaged in the business of disposal of biomedical waste, the supply of petroleum products, and the construction of real estate projects is eying multiple expansion in the business operations over the next 2-3 years. Along with Bitumen expansion, company is looking to diversify sales in the biomedical waste disinfection system across Indian and planning to initiate an eco-friendly, less wood, or green cremation system (GMS) as a pilot project for various crematoriums in India.
Established in 1965, company Sanmit Infra Ltd diversified diversified into real estate in 1994 and started building commercial complexes around Bandra. The company mainly undertakes projects in Mumbai and other cities of Maharashtra. So far, the group has built residential and commercial complexes in the western suburbs of Bandra West and Khar Linking Road area in Mumbai, and we have upcoming developments in Mahim, Karjat and Navi Mumbai. In petroleum, the company supplies products like bitumen, lubricants, light diesel, base oil.
Highlights:-
* Company intend to initiate bulk storage facilities for direct Bitumen imports from Gulf countries
* Company diversifying our sales in the biomedical waste disinfection system across India.
* Company is planning to initiate an eco-friendly, less wood, or green cremation system (GMS) as a pilot project for various crematoriums in India.
* In FY23, company has split 1 equity share of Rs. 10 face value into 10 shares of Rs. 1 face value
* For FY23, company has reported sales of Rs. 140 crore with a Net Profit of Rs. 5 crore.
During the Covid pandemic, company ventured into dealing with microwave disinfection systems for hospital waste. Company has successfully piloted in various municipal and railway hospitals including Brihanmumbai Municipal Corporation (BMC), Pune Municipal Corporation (PMC) and is planning to expand biomedical waste disinfection system across India. Company's microwave disinfection system utilizing dual technology, combining ultraviolet radiation to efficiently destroy bacteria and viruses present in biomedical waste.
In the Bitumen segment, company plans to further expand and intend to initiate bulk storage facilities for direct Bitumen imports from Gulf countries. Company aim to purchase a minimum one-acre plot near JNPT Port, where Bitumen importation occurs. This move will facilitate the establishment of a decanting unit, allowing it to purchase Bitumen in drums and convert it into bulk Bitumen.
The company is also planning to initiate an eco-friendly, less wood, or green cremation system (GMS) as a pilot project for various crematoriums in India. The GMS system upgrades the traditional open-air wood fire system, adhering to Hindu traditions. By replacing wood with "BAMBOO PELLETS," which have high calorific value and generate minimal ash, pollution levels will significantly decrease. This eco-friendly approach saves trees, forests, and reduces carbon credits, making a positive impact on the environment and society.
For FY23, company has reported sales of Rs. 140 crore with a Net Profit of Rs. 5 crore. For Q1FY24, company reported net profit of Rs. 52 lakh on Sales of Rs. 33.51 crore. Promoter Group holding as on June 2023 stands at 72.33%. During FY23, the company has split the shares with a face value of Rs.10 in the financial year 2023 into a face value of Rs.1.
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