Punj Lloyd hits 52-week low after reverse turnaround in Q4

Punj Lloyd lost 5.53% to Rs 20.50 at 12:13 IST on BSE after the company posted net loss of Rs 467.99 crore in Q4 March 2016, compared to net profit of Rs 268.53 crore for Q4 March 2015.

The announcement was made after market hours on Friday, 27 May 2016.

Meanwhile, the BSE Sensex was up 48.22 points, or 0.18%, to 26,701.82

On BSE, so far 4.53 lakh shares were traded in the counter, compared with an average volume of 2.28 lakh shares in the past one quarter. The stock hit a low of Rs 20.10 in intraday trade so far, which is 52-week low for the counter. The stock hit a high of Rs 21.55 so far during the day. The stock hit a 52-week high of Rs 35.80 on 6 August 2015. The stock had underperformed the market over the past one month till 27 May 2016, falling 7.46% compared with Sensex's 2.26% gains. The scrip had also underperformed the market in past one quarter, falling 0.69% as against Sensex's 15.11% gains.

The small-cap diversified engineering, procurement and construction (EPC) conglomerate has an equity capital of Rs 66.42 crore. Face value per share is Rs 2.

Punj Lloyd's total income decreased 60.3% to Rs 734.04 crore in Q4 March 2016 over Q4 March 2015. Punj Lloyd group's order backlog stands at Rs 23836 crore, including order backlog of Rs 6845 crore in Libya which is not seeing traction. The order backlog is the value of unexecuted orders as on 31 March 2016 plus new orders received after that date.

Atul Punj, Chairman of Punj Lloyd Group said that the company's focus is on improving the quality of balance-sheet, execution of projects, recovery of claims and cash flows.

Punj Lloyd is a diversified international conglomerate offering EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector. The second largest engineering and construction company in India, Punj Lloyd has operations spread across 24 countries, a mix across the Middle East, Africa, the Caspian, Europe, Asia Pacific and South Asia.

Powered by Capital Market - Live News