ITD Cementation strengthens on large order win

ITD Cementation India gained 2.74% to Rs 414.90 at 11:44 IST on BSE after the company said on Tuesday, 4 March 2008, it has bagged total orders worth Rs 446 crore.

The company made this announcement during trading hours today, 4 March 2008.

On BSE 1,288 shares were traded in the counter. The scrip had an average daily volume of 6,340 shares in the past one quarter.

The stock hit a high of Rs 414.90 and a low of Rs 404.05 so far during the day. The stock had a 52-week high of Rs 765.45 on 2 January 2008 and a 52-week low of Rs 297.98 on 22 August 2007.

The small-cap scrip had underperformed the market over the past one month till 3 March 2008, declining 12.99% compared to the Sensex’s fall of 8.58%. It had also underperformed the market in the past one quarter, declining 27.79% compared to Sensex’s decline of 14.60%.

The company’s current equity is Rs 11.52 crore. Face value per share is Rs 10.

The current price of Rs 414.90 discounts Q2 September 2007 annualized EPS of Rs 6.60 by a PE multiple of 62.86.

One of the two orders is valued at Rs 112 crore secured from SICAL Iron Ore Terminals. This project is to be executed within 22 months. The other order is valued at Rs 334 crore received from Chennai International Terminals has to be executed within 19 months.

With these orders, ITD Cementation India has added substantial new business in the area of marine construction.

ITD Cementation India reported a net profit of Rs 0.95 crore in Q3 September 2007 as compared to net loss of Rs 1.68 crore in Q3 September 2006. Net sales rose 45.2% to Rs 193.42 crore in Q3 September 2007 over Q3 September 2006.

The company provides construction services. The company operates in India.