Sunil Hi Tech notches topline growth of 95.3% YoY

• 95.3% increase in yearly revenues,
• 11.58% increase in yearly PAT,
• Strong order book of Rs. 1177 crores and L1 of Rs. 104.50 crores as of 31 March 2009,
• Board recommends dividend @ 10%.

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 year ended 31st March 2009.

For the year ended 31 March 2009, Sunil Hi Tech posted revenues of Rs. 598.21 crores (standalone), an increase of 95.3% over Rs. 306.30 crores in the previous fiscal year. Profit after Tax before extraordinary/ exceptional items for the year increased by 11.58% to Rs. 24.29 crores, as against Rs. 21.77 crores in the last fiscal year.

Additionally, the Board of Directors has recommended a dividend of 10% for fiscal year ending 31 March 2009.

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 coupled with our expanding product portfolio has enabled strong topline growth while maintaining margins during the tough operating climate of the past fiscal year. We expect to see further expansion and growth within our company in the coming quarters due to our numerous strategic initiatives. I am pleased with the overall results, operating performance and execution of our team.”

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.