Kalpataru Power Transmission bagging an overseas order rs 400 crores
The company announced the new order win during trading hours today, 31 March 2009.
Meanwhile, the BSE Sensex was up 203.64 points, or 2.13%, to 9,771.78.
On BSE, 48,921 shares were traded in the counter. The stock had an average daily volume of 25,024 shares in the past one quarter.
The stock hit a high of Rs 343 and a low of Rs 315 so far during the day. The stock hit a 52-week high of Rs 1222 on 4 April 2008 and a 52-week low of Rs 222 on 9 March 2009.
The stock had risen 40.37% to Rs 319.55 on 30 March 2009 from a recent low of Rs 227.65 on 6 March 2009.
The small-cap stock had outperformed the market over the past one month till 30 March 2009, gaining 37.74% as compared to the Sensex's 7.61% rise. It had also outperformed the market in the past one quarter, rising 15.49% as compared to the Sensex's 1.52% fall.
The company's current equity is Rs 26.50 crore. Face value per share is Rs 10.
The current price of Rs 333.45 discounts the company's Q3
December 2008 annualized EPS of Rs 30.11, by a PE multiple of 11.07.
The company has secured three contracts aggregating Rs 400 crore from Sonelgaz, the state electricity company of Algeria for supply of transmission equipments. The project work involves engineering, procurement and construction including supply of towers, other line material and construction of the transmission lines. These orders are to be executed by 8 to 15 months.
The company's order book has crossed Rs 5000 crore (out of which overseas projects exceeds Rs 2,200 crore), which is 2.87 times its sales of Rs 1742.47 crore in the year ended 31 March 2008. The order book gives strong revenue visibility.
The company had on 24 March 2009 secured three contracts aggregating Rs 399 crore from Power Grid Corporation of India (PGICL) for 65 kilovolt (KV) and 400 KV transmission line projects in Bihar, Chhattisgarh and Assam. These projects are to be executed by 18 to 24 months.
Kalpataru Power Transmission had on 9 March 2009 secured a contract worth Rs 385 crore from Hindustan Mittal Energy (HMEL) for laying pipelines for the Mundra-Bhathinda pipeline project. The project is to be executed in three spreads and is to be executed within 18 months.
The company had on 5 March 2009 bagged an order worth Rs 373 crore from Power Grid Corporation of India (PGCIL) for supply of power transmission equipment. The project will commence this month and is to be executed within 27 months.
The company had in January 2009 secured a transmission order worth $250 million from Kuwait.
Kalpataru Power Transmission's net profit fell 34.10% to Rs 19.95 crore on 18.5% increase in net sales to Rs 418.05 crore in Q3 December 2008 over Q3 December 2007.
Kalpataru Power Transmission manufactures transmission line towers for power distribution, which are sold to the Power Grid Corporation of India and State Electricity Boards. The company also exports its products to various countries.
Kalpataru Power Transmission had on 10 February 2009 announced that promoters have pledged more than 55.46 lakh shares representing 20.93% stake of the company. The company did not mention with whom the shares were pledged. The total promoter shareholding in the company stood at 63.68% as on 31 December 2008.