An infrastructure solutions provider, the company seems to be on a sound footing. Financially, the company has been doing well and going by the current order book, the fiscal seems to be headed for some times.
For the first quarter ended 30h June 2008, the company, on a YoY, posted a 71% rise in net sales at Rs.1016.66 crore of which Rs.742.73 crore (73% of net sales) was via domestic sales and Rs.273.93 crore (27%) via exports. Its net profit recorded a smart 95% jump at rs.38.30 crore. The profits margins, on the other hand, reflect the pressure of mounting expenses, OPM was actually down from 10.43% to 9.64%. NPM was almost flat at 3.77% from 3.31%.
The company has a MTM forex loss of Rs.6.79 crore but it has made a provision of Rs.3.75 crore in this quarter. Hopefully, with the dollar having appreciated, the company would have managed to recover this loss and also show a better realisation on its exports.
The stock was up yesterday and has been in the news after it announced having received a huge order from Dubai. It is for setting up two buildings, 56 storeys high, a twin tower project, estimated to be worth around Rs.1,200 crore. 35% of the company’s order comes from this region and its current consolidated order book is around Rs.10,000-11,000 crore. Most of its orders are to be executed within a time span of 30 months.
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