Pratibha Industries spurts on twin order win

Pratibha Industries jumped 8.45% to Rs 23.10 at 10:54 IST on BSE, after the company secured two contracts aggregating to Rs 516.17 crore from PHED, Rajasthan.

The company made the announcement during market hours today, 14 October 2013.

Meanwhile, the S&P BSE Sensex was up 49.89 points or 0.24% at 20,578.48

On BSE, 73,299 shares were traded in the counter as against average daily volume of 91,385 shares over the past one quarter.

The stock hit a high of Rs 24.40 and a low of Rs 21.20 so far during the day. The stock had hit a 52-week high of Rs 58.65 on 10 January 2013. The stock had hit a 52-week low of Rs 16.80 on 22 August 2013.

The stock had underperformed the market over the past one month till 11 October 2013, sliding 3.18% compared with the Sensex's 2.66% rise. The scrip had also underperformed the market in past one quarter, falling 20.67% as against Sensex's 4.33% rise.

The small-cap company has equity capital of Rs 20.21 crore. Face value per share is Rs 2.

Pratibha Industries secured two contracts aggregating to Rs 516.17 crore from PHED (Ajmer and Bharatpur), Rajasthan.

Pratibha Industries said that it bagged a contract from PHED, Ajmer, Rajasthan for Rs 292.49 crore for work of Cluster Scheme of 213 villages of Jahajpur and Kotri Tehsils along with augmentation of UWSS of Jahajpur Town from Khajoori Headworks under Chambal-Bhilwara Water Supply Project Phase-II with operation and maintenance for ten years on single point responsibility turnkey basis. The contract is to be completed in 36 months from the date of commencement, the company said.

The company secured another order for Rs 223.68 crore from PHED, Bharatpur, Rajasthan, for work of Regional Water Supply Scheme of 226 villages and their NRVs and Dhanies, of Roopwas, Bharatpur and Kumher tehsils, under CDBP WS project and augmentation of UWSS of Kumher town, on single responsibility turnkey basis ie. design, build and operation and maintenance during defect liability period up to one year after completion of works and thereafter for ten years on single point responsibility turnkey basis. The contact is scheduled to be completed in 30 months from the date of commencement.

Pratibha Industries' consolidated net profit fell 99.3% to Rs 0.16 crore on 1.3% decline in net sales to Rs 552.27 crore in Q1 June 2013 over Q1 June 2012.

Pratibha Industries is a flagship company of Pratibha Group. The company undertakes urban infrastructure projects, which cover water supply and distribution projects, waste and sewerage management including environmental engineering. The company is also among the leading players in the construction arena.

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