Sunil Hi Tech announces topline growth of 53% in the second quarter

• 53% increase in revenues on yoy basis
• 17% increase in EBIDTA on yoy basis 
• 1.28% increase in quarterly PAT on yoy basis
• Rs. 476 crs new orders won representing a 50% increase in net order book
• Pending Order book of Rs. 1420 crs

Sunil Hi Tech Engineers Ltd., (BSE: 532711) one of the leading technology and EPC companies in the power & infrastructure sector, continued its profitable growth for the Quarter ended 30th September, 2009.

For the quarter ended 30th September, 2009, Sunil Hi Tech posted revenues of Rs. 200.91 crs (standalone), an increase of 53% over Rs. 131.12 crs in the same quarter of the previous fiscal year. The Company has reported EBIDTA growth of 17% aggregating Rs. 23.42 crs over Rs. 19.96 crs in the same quarter of the previous fiscal year. PAT before extraordinary/ exceptional items for the year increased by 1.28% to Rs7.00 crs, as against Rs. 6.91 crs in the same quarter of the previous fiscal year. PAT including exceptional items is Rs. 12.59 crs for the quarter.

Commenting on the results, Mr. Sunil Gutte, the Joint Managing Director of Sunil Hi Tech Engineers Ltd. said, “Our focus, crisp engineering execution and technical expertise has enabled strong topline growth while maintaining good margins. We had indicated and now delivered to our commitment by achieving a 50% increase in our order book.  We expect to see further expansion and growth within our company in the coming quarters with stability of Government at the centre and GOI focus on Power sector. I am happy with the overall results, operating performance and execution of our team and expect to see further positive developments in the coming quarters”.

About Sunil Hi Tech Engineers Ltd.
Sunil Hi Tech Engineers Ltd. has over 20 years of experience in the fabrication, erection, testing and commissioning of thermal power plants including doing individual works under BoP. An ISO 9001:2000 certified company, Sunil Hi Tech undertakes the erection, testing and commissioning of boilers and auxiliaries of up to 500 MW capacity, pressure parts, ESP and piping, and structural work in main plant building, bunker bay and miscellaneous structures of up to 660 MW.

In addition to this, Sunil Hi Tech designs, supplies, transports and provides the commissioning of EHV lines of substations, CW pipelines, large diameter piping, bunker belts, steel flue can; EPC work for transmission and distribution lines, transformers sub-stations and allied works, as well as the EPC contract for fuel oil system and the erection of turbine generators.

Sunil Hi Tech has 125,000 tpa of steel fabrication capacity and specializes in building steel structures for thermal power plants and has also established a 1,00,000 tpa of equipment installation capacity in power plants. The company takes up civil works for power plants of up to 500 MW. It undertakes manufacture, supply, and commissioning of super-heater eco, reheater coils and equipment for thermal power stations.