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Tecpro Systems jumps after winning order

Capital Market/ 11:16 , Jan 21, 2013

Tecpro Systems jumped 6.14% to Rs 159 at 11:14 IST on BSE after the company said it received an order worth Rs 139.80 crore from The West Bengal Power Development Corporation.

The announcement was made during trading hours today, 21 January 2013.

Meanwhile, the BSE Sensex was up 66.81 points, or 0.33%, to 20,105.85.

On BSE, 81,000 shares were traded in the counter as against an average daily volume of 23,715 shares in the past one quarter.

The stock hit a high of Rs 163 and a low of Rs 155.35 so far during the day. The stock had hit a 52-week high of Rs 210.50 on 13 February 2012. The stock had hit a record low of Rs 123 on 7 August 2012.

The stock had underperformed the market over the past one month till 18 January 2013, falling 3.51% compared with the Sensex's 3.48% rise. The scrip had also underperformed the market in past one quarter, sliding 6.43% as against Sensex's 6.64% rise.

The small-cap company has an equity capital of Rs 50.47 crore. Face value per share is Rs 10.

Tecpro Systems said it received Rs 139.80 crore order from The West Bengal Power Development Corporation for supplying ash handling plant turnkey package for Sagardighi Thermal Power Extension Project, phase II, units 3 and 4 (2x500 megawatts), along with erection and other related services.

Commenting on the development, Amul Gabrani, Vice-Chairman and Managing Director, Techpro Systems said, It has been our continuous effort to strengthen the order book position given our strong performance track record and leadership position in the coal handling and ash handling segment.

We have witnessed good traction in order inflows this year having booked orders worth Rs 2300 crore till date, compared to Rs 1638 crore booked during the same period last year. Further, our total order book position till date stands at about Rs 4500 crore. We are confident of maintaining this momentum going forward aided by our unique presence across multiple service offerings, he added.

Tecpro Systems' net profit rose 45.34% to Rs 12.47 crore on 30.36% rise in net sales to Rs 589.44 crore in Q2 September 2012 over Q2 September 2011.

Tecpro Systems is an engineering, procurement and construction (EPC) company. The company designs, engineers, manufactures, sells, commissions and services a range of systems and equipment to provide turnkey projects for the core infrastructure related sectors like power, steel, cement and other industries.

 



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