Solitaire Machine surges on order win

Solitaire Machine Tools surged 4.46% to Rs 17.55 at 14:33 IST on BSE after the company said it has tied up with an Italian machine tool manufacturer to rebuild a high value grinding machine for SKF India.

The stock hit a high of Rs 17.55 and a low of Rs 16.15 so far during the day. The stock had a 52-week high of Rs 35.95 on 11 January 2008 and a 52-week low of Rs 12 on 2 July 2007.

The company has an equity capital of Rs 4.55 crore. Face value per share is Rs 10.

The current price of Rs 17.55 discounts its Q1 March 2008 annualised EPS of Rs 0.97, by a

PE multiple of 18.09.

Solitaire Machine Tools’ Baroda plant will execute the work and the technical know how will be provided by the Italian company. The total contract is valued at Rs 20 crore and the order for the first batch is valued Rs 2 crore.

Solitaire Machine Tools’ net profit fell 50% to Rs 0.11 crore on 12.3% rise in net sales to Rs 3.01 crore in Q4 March 2008 over Q4 March 2007.