Suprajit Engineering in top gear on announcing record Q3 sales

Suprajit Engineering rose 2.47% to Rs 51.80 at 14:06 IST on BSE, after the company announced robust sales in Q3 December 2013.

The announcement was made during market hours today, 2 January 2014.

Meanwhile, the S&P BSE Sensex was down 139.39 points or 0.66% at 21,001.09

On BSE, 14,927 shares were traded in the counter as against average daily volume of shares in the 26,734 past one quarter.

The stock hit a high of Rs 52.80 and low of Rs 50.65 so far in the day. The stock had hit a record high of Rs 54.10 on 26 December 2013. The stock had hit a 52-week low of Rs 29.25 on 1 January 2013.

The stock had outperformed the market over the past one month till 1 January 2014, rising 28.95% compared with the Sensex's 1.68% rise. The scrip had also outperformed the market in past one quarter, surging 56.02% as against Sensex's 8.32% rise.

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

Suprajit Engineering during market hours today, 2 January 2014 said that standalone sales rose 24% in Q3 December 2013 over Q3 December 2012. Sales rose 24% in Q3 December 2013 over Q2 September 2013.

Suprajit Engineering said that automotive and non-automotive exports as well as domestic aftermarket sales have clocked all time high in Q3 December 2013. For the nine months ended December 2013, the consolidated as well as standalone sales grew by about 14% as compared to the same period last year, against the domestic automotive industry growth for the nine months of about 3%, the company said.

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 India's largest automotive cable maker with an annual cable capacity of 150 million cables. Suprajit group has 15 plants of which 14 are in India and one is in the UK, which also operates as a Tech Centre.

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