Easun Reyrolle spurts after acquisition

Easun Reyrolle jumped 9.51% to Rs 45.50 at 11:08 IST on BSE after the company acquired 82% stake in Australia-based Electrical Distribution Solutions.

The company made the announcement after market hours on Monday, 29 July 2013.

Meanwhile, the S&P BSE Sensex was up 62.81 points, or 0.32%, to 19,656.09.

On BSE, 5,505 shares were traded in the counter as against an average daily volume of 2,802 shares in the past one quarter.

The stock hit a high of Rs 47.45 and a low of Rs 44 so far during the day. The stock had hit a 52-week low of Rs 41 on 24 July 2013. The stock had hit a 52-week high of Rs 83 on 24 December 2012.

The stock had underperformed the market over the past one month till 29 July 2013, sliding 10.74% compared with the Sensex's 1.02% rise. The scrip had underperformed the market in past one quarter, falling 30.75% as against Sensex's 1.06% rise.

The small-cap company has an equity capital of Rs 4.16 crore. Face value per share is Rs 2.

Easun Reyrolle, through its subsidiary ERL International, has acquired 82% equity and ownership control in an Australian company, Electrical Distribution Solutions (EDS).

This synergic and strategic acquistion would help Easun Reyrolle establish and hold presence in Australian power transmission and distribution market.

It may be noted, recently Easun Reyrolle obtained order from EDS to supply Medium Voltage Switchgear products to Australian Utility, Energex in the State of Queensland. The total supply value of this order $84 million to be supplied over the next seven years.

Energex has managed energy distribution networks of the State of Queensland for more than 100 years.

Net profit of Easun Reyrolle fell 18.1% to Rs 12.46 crore on 38.4% fall in net sales to Rs 57.30 crore in Q4 March 2013 over Q4 March 2012.

Easun Reyrolle offers products, system, solutions and services in power generation, transmission, distribution and utility segments.

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