Supreme Infrastructure Q1 profit rises 80.63% to 15.59 cr
- PAT increased by 80.63% to 15.59 cr.
- Sales increased by 73.86% to 184.10 cr.
- Dividend recommended @ 15% or 1.5 per share.
Supreme Infrastructure Limited, one of the most versatile infrastructure companies has posted a 80.63% rise in net profit at 15.59 cr for the first quarter ended June 2010, as compared to 8.63 cr in the corresponding period of the previous year.
The company’s Q1 gross Sales stood at 184.10 cr up by 73.86% as compared to 105.89 cr in the corresponding period the previous year.
EPS rose to 11.24 up by 80.70% as compared to 6.22 in the corresponding period in previous year.
Board of Directors has recommended a dividend of 1.5 per equity share for the year ended 31st March, 2010.
Announcing the results, Mr. Vikram B Sharma, Managing Director, Supreme Infrastructure Ltd said “We are extremely happy with the results. We are also delighted with the incredible improvements in our bottom line. All the processes & systems that we put in place a year ago have now started to bear fruits. We expect that the coming year will also be profitable to us & the installed systematic processes will help us strengthen our order book position.”
Recent Developments:
Issue of Shares on Preferential basis
- Supreme Infrastructure India Limited has allotted 8,66,275 equity shares to Supreme Construction & Developers Pvt. Ltd. & Pivotal Securities Pvt. Ltd. on a preferential basis at Rs. 225/- per equity share.
- The equity raised from the allotment is expected to bring approximately 20crs to the company which will be used towards expansion & growth in the BOT segments.
Conversion of share warrants
- Company has converted 2mn share warrants in to equity shares on a preferential basis at Rs. 60/- each.
- 1 mn shares each allotted to Mr. Vikram Sharma and M/s Mavi Investment Fund limited.
Some of its ongoing projects include:
- Construction of MMRDA building
- Construction of a whole new IT Park in Powai
- Construction of Kapurthala Judicial Court Complex at Punjab awarded by PWD worth Rs. 44 crore
- Construction of 4-Laning of Road along Sidhwan Canal from Punjab Infrastructure Development Board worth Rs. 328,16,15,997/-
About Supreme Infrastructure Ltd
SUPREME INFRASTRUCTURE INDIA LIMITED [BSE code: 532904] is a public limited company, formerly known as Supreme Asphalts Private Limited which was incorporated in 1983 under the Indian Companies Act 1956 and promoted by Shri. Bhawanishankar H. Sharma. Supreme Infrastructure Private Limited was incorporated in 2002 and was listed in 2007 on the BSE & NSE.
The company has been formed to undertake engineering works of unrestricted value with most of the Government departments, public & private sector organizations.
Apart from the latest methods and techniques, the company has introduced automation in its working styles like the use of QA/QC methods. As an organization, it is always on the move to improve its productivity further by resorting to new management of tools as they become available.