Large orders engineer recovery in Sunil Hitech Engineers

Sunil Hitech Engineers surged 7.02% to Rs 202.85 at 12:56 IST on BSE after the company said it has bagged three different orders aggregating to Rs 649.22 crore from three different clients.

The company made this announcement during trading hours today, 28 July 2008.

Meanwhile, the BSE Sensex was up 73.93 points, or 0.52%, to 14,348.87.

On BSE, 1.58 lakh were traded in the counter. The scrip had an average daily volume of 22,956 shares in the past one quarter.

The stock hit a high of Rs 225 and a low of Rs 186 far during the day. The stock had a 52-week high of Rs 415 on 2 January 2008 and a 52-week low of Rs 156.25 on 2 July 2008.

The small-cap company had underperformed the market over the past one month till 25 July 2008, declining 6.65% compared to the Sensex's decline of 1.02%. It had also underperformed the market in the past one quarter, declining 32.66% compared to Sensex's decline of 16.65%.

The company has an equity capital of Rs 12.28 crore. Face value per share is Rs 10.

The current price of Rs 202.85 discounts its Q4 March 2008 annualised EPS of Rs 23.52, by a PE multiple of 8.62.

With these latest orders, Sunil Hitech Engineers' order book stands at Rs 1374.65 crore.

In April 2008, the company bagged orders worth Rs 100.68 crore from JSW Steel for structural works.

Sunil Hitech Engineers' net profit surged 120.1% to Rs 7.22 crore on 142.6% increase in net sales to Rs 112.38 crore in Q4 March 2008 over Q4 March 2007.

Sunil Hitech specializes in fabrication, erection, testing & commissioning of thermal power plants, both in the private as well as the public sector.