SHRIRAM EPC Results Wait & Watch

Shriram EPC provides solutions for renewable energy projects and is a major manufacturer of wind turbines. For the year ended 31st March 2009, the company posted a net sales of Rs.1005.80 crore, up 44% and this is for the first time that revenue crossed Rs.1000 crore mark. But its profit margins are dismal. It posted a net profit of Rs.47.47 crore, up 35%. This on an over Rs.1000 crore turnover does not look too enticing. The NPM for the year thus stands at 4.72%.
The company has commissioned two units of a biomass power plant for Lakshmi Energy in this financial year and has commenced operations at its integrated wind turbine manufacturing facility, with capacity to manufacture MW class wind turbines, in Gumminipoondi. Its consolidated order book stands at Rs 1670 crore billion as on March 31, 2009.
The company had issued shares at Rs.300 when it had come with the IPO in early 2008. Today it is quoted at just around Rs.183 levels and shareholders are surely in a loss. They may have to wait for some more time. thanks