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Shriram EPC spurts after winning orders

Capital Market/ 09:29 , Nov 20, 2013

Shriram EPC spurted 7.81% to Rs 33.80 at 9:28 IST on BSE after the company said it bagged orders aggregating to Rs 214 crore.

The announcement was made after market hours on Tuesday, 19 November 2013.

Meanwhile, the BSE Sensex was down 45.63 points, or 0.22%, to 20,845.19.

On BSE, 18,000 shares were traded in the counter compared with average volume of 7,022 shares in the past one quarter.

The stock hit a high of Rs 34.75 and a low of Rs 32.75 so far during the day. The stock hit a record low of Rs 26.10 on 23 October 2013. The stock hit a 52-week high of Rs 86 on 6 December 2012.

The stock had outperformed the market over the past one month till 19 November 2013, rising 2.12% compared with the Sensex's marginal rise of 0.04%. The scrip had, however, underperformed the market in past one quarter, falling 20.63% as against Sensex's 14.11% rise.

The small-cap company has an equity capital of Rs 44.36 crore. Face value per share is Rs 10.

Shriram EPC said the orders include a Rs 157 crore contract from BPCL for civil, structural and underground piping works of fluid catalytic cracking units for the Integrated Refinery Expansion Project (IREP) at Kochi refinery.

The Municipal Corporation of Brihanmumbai (Sewerage Operations Department) has given two contracts totalling Rs 57 crore for rehabilitation of underground sewers using trenchless technology with GRP liners.

T. Shivaraman, Managing Director & CEO of Shriram EPC, said, The demand environment is subdued for engineering verticals, but water division continues to thrive due to order wins from municipalities, large PSUs as well as private enterprises.

Shriram EPC reported a net loss of Rs 41.52 crore in Q2 September 2013 as against net profit of Rs 4.26 crore in Q2 September 2012. Net sales declined 56.01% to Rs 163.29 crore in Q2 September 2013 over Q2 September 2012.

Shriram EPC offers design, engineering, procurement, construction and project management services for power plants.


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