New orders boost McNally Bharat Engineering

The company made this announcement during trading hours today, 21 December 2011.

Meanwhile, the BSE Sensex was up 229.83 points, or 1.51% to 15,404.91.

On BSE, 18,000 shares were traded in the counter as against average daily volume of 12,748 shares in the past one quarter.

The stock hit a high of Rs 84.40 and a low of Rs 80 so far during the day. The stock had hit a 52-week low of Rs 79.75 on 19 December 2011. The stock had hit a 52-week high of Rs 248.80 on 28 February 2011.

The small-cap stock had underperformed the market over the past one month till 20 December 2011, falling 23.21% compared with Sensex's 7.31% decline. The scrip had also underperformed the market over the past one quarter, declining 36.07% as against Sensex's 11.25% fall.

The company has an equity capital of Rs 31.09 crore. Face value per share is Rs 10.

McNally Bharat Engineering Company said the first order is for design, engineering, supply of equipment, and commissioning of ash handling plant package for Phase I, 1X660 megawatts (MW) JPL Seoni power project at Madhya Pradesh. The project is worth Rs 78.90 crore, McNally Bharat said in a statement.

The second order from Neyveli Lignite Corporation is a three-year contract for the operation & maintenance of lignite & lime stone handling system of BTPP. The contract value is Rs 15.49 crore, McNally Bharat said in a statement.

The third contract from West Bengal Power Development Corporation is for renovation work of old conveyor path 6B and necessary connectivity bunkers of unit 5 & 6 at Santadih Thermal Power Station. The contract value is Rs 9.95 crore, McNally Bharat said in a statement.

McNally Bharat Engineering Company's net profit rose 11% to Rs 10.72 crore on 24% growth in net sales to Rs 498.05 crore in Q2 September 2011 over Q2 September 2010.

McNally Bharat Engineering Company is one of the leading engineering companies in India, engaged in providing turnkey solutions in the areas of power, steel, aluminium, material handling, mineral beneficiation, pyroprocessing, pneumatic handling of powdered materials including fly ash handling and high concentrate disposal, coal washing, port cranes, civic and industrial water supply.

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