Tecpro Systems slips over 15% in two days after dismal results

Tecpro Systems hit a lower circuit limit of 10% at Rs 26.90 at 13:49 IST on BSE, extending Friday's 6.28% fall triggered by the company's dismal Q1 June 2013 results.

The Q1 result was announced after market hours on Wednesday, 14 August 2013. The stock market was closed on Thursday, 15 August 2013, on account of Independence Day. The stock slumped 6.28% to Rs 29.85 on on Friday, 16 August 2013. It has fallen 15.54% in two sessions from Rs 31.85 on Wednesday, 14 August 2013.

Meanwhile, the BSE Sensex was down 382.29 points, or 2.06%, to 18,215.89.

On BSE, 10,804 shares were traded in the counter compared with average volume of 6,306 shares in the past one quarter.

The stock hit a high of Rs 29.50 and a low of Rs 26.90 so far during the day. The stock hit a record low of Rs 26 on 7 August 2013. The stock hit a 52-week high of Rs 174.20 on 4 October 2012.

The stock had underperformed the market over the past one month till 16 August 2013, sliding 37.16% compared with the Sensex's 6.31% decline. The scrip had also underperformed the market in past one quarter, falling 64.40% as against Sensex's 8.15% fall.

The small-cap company has an equity capital of Rs 50.47 crore. Face value per share is Rs 10.

Tecpro Systems' reported net loss of Rs 60.06 crore in Q1 June 2013 as against net profit of Rs 7.04 crore in Q1 June 2012. Net sales declined 45.04% to Rs 306.57 crore in Q1 June 2013 over Q1 June 2012.

Tecpro Systems is an established engineering, procurement and construction (EPC) company in India, engaged in providing turnkey solutions in bulk material handling systems for cement, power, steel sectors etc, ash handling systems for thermal power plants, balance of thermal power plant, captive power plants, captive power plants on waste heat recovery boiler based technology and pollution control systems.

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