Simplex Infrastructures builds on overseas contract

Simplex Infrastructures builds on overseas contract

Simplex Infrastructures rose 0.13% to Rs 640 at 12:34 IST on BSE, after the company said it has received an order worth Rs 302 crore for construction of six flyovers on Seeb Corniche road in Muscat in Sultanate of Oman.

The company made this announcement during trading hours today, 21 February 2008. Meanwhile, BSE Sensex was up 131.69 points or 0.75% to 17,749.29, on positive cues from the global markets. Asian stocks rose today as Wall Street steadied overnight, helped by strong quarterly earnings and the prospect of lower interest rates.

On BSE, 3,995 shares were traded in the counter. The scrip had an average daily volume of 31,369 shares in the past one quarter.

The stock hit a high of Rs 659.90 and low of Rs 615 so far during the day. The stock had a 52-week high of Rs 774 on 9 January 2008 and a 52-week low of Rs 270.95 on 9 March 2007.

The mid-cap scrip had outperformed the market over the past one month till 20 February 2008, gaining 10.91% compared to the Sensex’s return of 5.31%. It had also outperformed the market in the past one quarter, gaining 4.62% compared to Sensex’s decline of 4.91%.

The company’s current equity is Rs 9.85 crore. Face value per share is Rs 2. The current price of Rs 640 discounts its Q3 December 2007 annualized EPS of Rs 17.82, by a PE multiple of 35.91.

On 15 February 2008, Simplex Infrastructures (SIL) secured an order worth Rs 406 crore comprising of civil construction work for a metro rail project in Mumbai.

On 4 February 2008, the company received an order worth Rs 287 crore for Qatalum thermal power plant project in Qatar.

In January 2008, Simplex Infrastructures received an order worth Rs 481 crore for civil work for 1050 mega watt Maithon thermal power project.

In November 2007, the company bagged a contract worth Rs 580 crore from DP World for phase 1A of international container transshipment terminal at Kochi.

SIL’s net profit rose 28.5% to Rs 22.03 crore on 57.7% growth in net sales to Rs 703.98 crore in Q3 December 2007 over Q3 December 2006.

Simplex Infrastructures provides infrastructure solutions in power, industrial construction, urban infrastructure, marine, high-rise building, roads and bridges segments. The company provides comprehensive services across ground engineering.