Suprajit Engineering hits all-time high after record October sales

Suprajit Engineering rose 4.53% to Rs 39.20 at 14:46 IST on BSE after the company said its total sales rose 27% to cross Rs 60 crore in October 2013 over October 2012.

The announcement was made during trading hours today, 6 November 2013.

Meanwhile, the S&P BSE Sensex was down 71.62 points or 0.34% at 20,903.17.

On BSE, 1.45 lakh shares were traded in the counter as against average daily volume of 13,795 shares in the past one quarter.

The stock hit a high of Rs 39.80 so far during the day, which is also its record high for the counter. The stock hit a low of Rs 38.35 so far in the day. The stock had hit a 52-week low of Rs 26.20 on 29 November 2012.

The stock had underperformed the market over the past one month till 5 November 2013, advancing 4.02% compared with the Sensex's 5.32% rise. The scrip had, however, outperformed the market in past one quarter, surging 9.65% as against Sensex's 9.34% rise.

The small-cap company has equity capital of Rs 12 crore. Face value per share is Re 1.

Suprajit Engineering said that the sales in October 2013 are its highest-ever sales.

Suprajit Automotive, a 100% Export Oriented subsidiary of Suprajit Engineering has clocked the sales of Rs 5.16 crore in October 2013, as against Rs 2.65 crore of previous year, a growth of 94%, an all time high, the company said.

Commenting on the company's robust October sales, Mr. K. Ajith Kumar Rai, CMD, Suprajit Engineering said, "Team Suprajit has done a fabulous job in October 2013, clocking the record sales in every segment. The gloomy outlook witnessed in Q1 seem to have changed with a good Q2 and now a sparkling October. Feedback from the customers and internal debate leads us to believe that the worst may be over for the automotive sector and that coming quarters' including Q3 performance is expected to be robust".

Suprajit Engineering's consolidated net profit rose 18.3% to Rs 12.86 crore on 13.3% growth in net sales to Rs 122.50 crore in Q2 September 2013 over Q2 September 2012.

Suprajit Engineering is engaged in manufacturing and selling auto components. It produces automotive, non-automotive and push-pull cables.

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