Era Infra Engineering Stock split Proposal

Era Infra Engineering surged 3.07% to Rs 568 at 11:40 IST on BSE after the company's board approved sub-division of its equity shares from existing one equity share of Rs 10 each to five equity shares of Rs 2 each.

The company made this announcement on Saturday, 5 July 2008.

The stock hit a high of Rs 574.45 and a low of Rs 560 so far during the day. The stock had a 52-week high of Rs 957 on 28 December 2007 and a 52-week low of Rs 410.15 on 5 July 2007.

The company has an equity capital of Rs 23.10 crore. Face value per share is Rs 10.

The current price of Rs 568 discounts its Q4 March 2008 annualised EPS of Rs 63.65, by a

PE multiple of 8.92.

On 16 June 2008, Era Infra Engineering (EIEL) bagged two orders totaling Rs 65.5 crore from two different clients.

On 6 June 2008, the company secured a contract worth Rs 85.20 crore from Mumbai Railway Vikas Corporation for construction of a car shed.

EIEL’s net profit rose 20.8% to Rs 36.76 crore on 133.6% increase in net sales to Rs 625.06 crore in Q4 March 2008 over Q4 March 2007.

Era Infra Engineering builds industrial complexes, residential buildings, multiplexes, super malls, power projects and airports. The company is diversifying its revenue stream by entering into new segments such as irrigation and build operate and transfer (BOT) projects.