Sunil Hitech Engineers tumbles after weak Q4 earnings

Sunil Hitech Engineers tanked 6.95% to Rs 13.38 at 12:48 IST on BSE after net profit fell 98% to Rs 0.27 crore on 22.3% growth in net sales to Rs 618.18 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours on Friday, 19 May 2017.

Meanwhile, the S&P BSE Sensex was up 101.97 points or 0.33% at 30,566.89. The S&P BSE Small-Cap index was down 35.82 points or 0.24% at 15,191.25.

On the BSE, 6.45 lakh shares were traded on the counter so far as against the average daily volumes of 7.50 lakh shares in the past one quarter. The stock had hit a high of Rs 14.10 and a low of Rs 13.25 so far during the day.

The stock had hit a record high of Rs 23.43 on 20 October 2016 and a 52-week low of Rs 7.75 on 24 June 2016. It had underperformed the market over the past one month till 19 May 2017, advancing 2.35% compared with the Sensex's 3.85% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 20.84% as against the Sensex's 7.01% rise.

The small-cap company has equity capital of Rs 37.80 crore. Face value per share is Rs 1.

The company's total unexecuted order book stood at Rs 5188.25 crore as on 31 March 2017.

Sunil Hitech Engineers' Managing Director Sunil Gutte said that the company intends to continue to grow in both power and non-power business. It is expecting orders in FY 2018 in both the verticals.

Sunil Hitech Engineers is a well established player in engineering procurement construction (EPC) and construction of road & bridges, building works of institutions, hospitals and housing projects, cross country pipeline, civil & mechanical works of power and steel plants, cooling towers, chimneys, etc, also in renewable energy sector.

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