Simplex Castings speeds up on new order win

Simplex Castings surged 5.91% to Rs 78 at 10:47 IST on BSE, after the company said it has secured an order worth Rs 14 crore from Ministry of Railway, Government of India for supply of coco bogies.

The company made this announcement before trading hours today, 7 February 2008.

Meanwhile, BSE Sensex was down 56.20 points or 0.31% to 18,083.29.

On BSE, 10,269 shares were traded in the counter. The scrip had an average daily volume of 16,351 shares in the past one quarter.

The stock hit a high of Rs 82 and a low of Rs 74 so far during the day. The stock had a 52-week high of Rs 113.30 on 13 December 2007 and a 52-week low of Rs 31 on 9 March 2007.

The small-cap scrip had underperformed the market over the past one month till 6 February 2008, declining 24.62% compared to the Sensex's decline of 13.10%. It had also underperformed the market in the past one quarter, declining 7.18% compared to Sensex's decline of 4.82%.

The company's current equity is Rs 6.02 crore. Face value per share is Rs 10.

The current price of Rs 78 discounts its Q3 December 2007 annualized EPS of Rs 12.71, by a PE multiple of 6.14.

Simplex Castings has orders worth Rs 120 crore in hand, which includes export orders worth Rs 30 crore from the company's clients like Indu steel - France, Arcellor - Spain, Ingersoll Rand - Italy, Sandwik Asia - Pune, Al - Nasar Company for coke & chemicals - Egypt, Hyundai Corporation - Korea.

Simplex Castings' net profit rose 34.8% to Rs 1.90 crore on 10% fall in net sales to Rs 35.12 crore in Q3 December 2007 over Q3 December 2006.

The company manufactures engineering products, castings and equipments. The company's products include ingot moulds, alloy steel ingots and parts of industrial furnaces and ovens. The plants are situated in and around Bhilai, Madhya Pradesh, India.