Elecon Engineering gets quarterly earnings booster

Elecon Engineering Company rose 1.38% to Rs 136.25 at 9:56 IST on BSE after reporting 23.8% rise in net profit to Rs 22.98 crore on 15.3% increase in net sales to Rs 328.47 crore in Q4 March 2008 over Q4 March 2007.

The stock hit a high of Rs 136.50 and a low of Rs 134.95 so far during the day. The stock had a 52-week high of Rs 343 on 20 December 2007 and the stock hit a 52-week low of Rs 132.67 on 28 May 2007.

The company’s current equity is Rs 18.57 crore. Face value per share is Rs 2.

The current price of Rs 136.25 discounts its Q4 March 2008 annualised EPS of Rs 9.90, by a PE multiple of 13.76.

Elecon Engineering Company’s net profit rose 22.40% to Rs 67.20 crore on 14.60% increase in total income to Rs 836.22 crore in the year ended March 2008 over the year ended March 2007.

On 11 February 2008, Elecon Engineering received an order worth Rs 188.52 crore from Steel Authority of India for supply & erection of equipments for expansion of IISCO Steel Plant.

On 1 February 2008, the company secured an order worth Rs 61.50 crore from Tecpro System, Chennai for supplying combined heat and power equipments.

Elecon Engineering Company manufactures all kinds of mechanical handling equipment such as bucket elevators, belt conveyors, gravity roller conveyors, bag-filling machines, bag stacking machines, overhead chair conveyors.