Order win does not benefit PBA Infrastructure

PBA Infrastructure dropped 4.51% to Rs 71 at 10:20 IST on BSE even as the company said it has bagged an order worth Rs 42.30 crore from Navi Mumbai Municipal Corporation for building flyovers and over bridges at Thane Belapur road.

The company made this announcement after trading hours on Friday, 7 March 2008.

On BSE, 1,495 shares were traded in the counter. The scrip had an average daily volume of 94,495 shares in the past one quarter.

The stock hit a high of Rs 73.85 and a low of Rs 68.70 far during the day. The stock had a 52-week high of Rs 177.20 on 1 January 2008 and a 52-week low of Rs 70.20 on 7 March 2008.

The small-cap scrip had underperformed the market over the past one month till 7 March 2008, declining 26.09% compared to the Sensex’s fall of 8.85%. It had also underperformed the market in the past one quarter, declining 36.45% compared to Sensex’s decline of 19.99%.

The company’s current equity is Rs 13.50 crore. Face value per share is Rs 10.

The current price of Rs 71 discounts Q3 December 2007 annualized EPS of Rs 8.18, by a PE multiple of 8.68.

In January 2008, PBA Infrastructure bagged orders worth Rs 150.77 crore from Pimpri Chinchwad Municipal Corporation and Municipal Corporation of Greater Mumbai.

PBA Infrastructure’s net profit declined 22% 2.76 crore on 29.6% growth in net sales to Rs 91.05 crore in Q3 December 2007 over Q3 December 2006.

PBA Infrastructure is a construction company engaged in building roads, dams, runways and bridges.