Sunil Hitech Topline shoots 144% to Rs 111.20cr

Sunil Hitech Engineers Ltd, one of the fastest growing companies in the power sector clocked a 144% growth in its Net Sales to Rs. 111.20 crore in Q1 FY09 over Rs. 45.36 crore in the same quarter last year. The PAT stands at Rs. 6.38 crore, 86 % up from Rs.3.43 crore for the corresponding quarter last year.

The first quarter of the present fiscal sees SHEL holding a total order book position of Rs 1374.65 crores.

The company has bagged Engineering Procurement Contract (EPC) job for 30 MW works and 60 KLPD Distillery Plant with 6000 TCD sugar for Gangakhed Sugar & Energy Pvt Ltd., in District Parbhani. The work is worth Rs 329.62 crore. This is the biggest single order Sunil Hitech has bagged since its inception which marked the entry of the company into EPC business. The order is a major stepping stone for the company.

The company will be undertaking a Rs. 216 crore earthwork project for Rajwest Power Ltd. at Barmer in Rajasthan for the excavation and disposal for a Raw Water Reservoir. The quantum of excavation involved is to the tune of 80 Lacs Cum .

SHEL has bagged a 2X300MW, Unit 1&3, Boiler and TG Erection works for JSW Energy Ratnagiri Ltd., at Jaigad. A 1x250MW, Unit-2, Turbine Generator erection works for Mahagneco at Parli Thermal Power Station in Maharashtra will also be taken up by SHEL. The total value of these works is Rs 103.6 crore.

The orders bagged by Sunil Hitech in the first quarter amounts to 64.2% of the order book position ending March '08.

"Steady growth, together with our progress till date strengthens our resolve to be the most innovative and efficient contributor to the Indian power industry." said Mr. Sunil Gutte, Joint Managing Director, Sunil Hi-Tech Engineers Ltd.

About Sunil Hi-Tech Engineers Ltd.
Sunil Hitech Engineers Ltd. (SHEL) specializes in fabrication, erection, testing and commissioning of Thermal Power Plants with high precision quality and timeliness. SHEL offers a diversified assortment of products and services catering to the Power, Process and Piping Industries as well as Sugar Industries, Steel Plants, Irrigation Projects and Raw Water Systems.

As part of its portfolio, SHEL undertakes erection of Boilers and Auxiliaries of upto 500 MW capacity, EPC Projects for thermal power stations, erection of EHV transmission lines and sub-stations, manufacture, supply, erection, testing and commissioning of super-heater coils & bends and erection of sugar mills.