Punj Lloyd jumped 10.78% at Rs. 64.25 at 09:52 IST on BSE on posting a consolidated net profit of Rs. 17.65 crore in Q4 March 2011 compared with a net loss of Rs. 300.87 crore in Q4 March 2010.
The result was announced after market hours on Monday, 30 May 2011.
On BSE, 27.67 lakh shares were traded in the counter as against an average daily volume of 10.84 lakh shares in the past one quarter.
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The stock hit a high of Rs. 64.90 and a low of Rs. 58.65 so far during the day. The stock hit a record low of Rs. 53 on 26 May 2011 and a 52-week high of Rs. 142.30 on 7 October 2010.
The stock had underperformed the market over the past one month till 30 May 2011 declining 13.04% as compared to the Sensex's fall of 4.72%. The stock also underperformed the market in the past one quarter, falling 3.25% as compared to the Sensex's return of 2.29%.
The mid-cap engineering and construction company has an equity capital of Rs. 66.42 crore. Face value per share is Rs. 2.
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Punj Lloyd's consolidated net sales rose 28.94% to Rs. 2192.14 crore in Q4 March 2011 over Q4 March 2010.
The company lowered its consolidated net loss to Rs. 51.14 crore in the year ended March 2011 from a net loss of Rs. 108.42 crore in the year ended March 2010. Net sales declined 24.86% to Rs. 7849.58 crore in the year ended March 2011 over the year ended March 2010.
The company's board of directors recommended a dividend of Re 0.15 per share for the year ended March 2011.
Speaking on the Financial Performance, Atul Punj, Chairman, Punj Lloyd, said:
“Intense competition, increase in the prices of commodities and oil products, interest rates, delay in land acquisition have contributed to a challenging environment. However, our established EPC experience, our strength in diversified businesses and the organisational framework we have established across 20 geographies, will ensure that we exploit markets worldwide.”
As on 30 May 2011, Punj Lloyd Group has a healthy order backlog of Rs 22805 crore. The order backlog is the value of the unexecuted orders on March 31, 2011 and new orders received after that day.
Key developments during Q4FY2011 are:
Punj Lloyd Infrastructure Limited (PLIL), a wholly owned subsidiary of Punj Lloyd bagged a BOT Annuity contract for the upgradation of 114-km section of NH-31 from Khargia to Purnea in Bihar. The scope of work involves design, build, finance, operate and transfer of this section of the national highway.
Contract for building a railway siding for the Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), a wholly state-owned thermal power utility. The Rs 114 crore project is the first-ever railway project for the company.
PL Engineering, a Punj Lloyd Group company, and GECI India have entered into a joint venture which will initially focus on providing services in the Indian aerospace sector and for supporting activities in Europe as well.
Punj Lloyd won three oil and gas contracts in India, Oman and Indonesia worth Rs. 645 crore.
Punj Lloyd entered into a Power Purchase Agreement with NTPC Vidyut Vyapar Nigam Ltd. for sale of power from 5MW PV based Solar power plant for 25 years. This solar power plant, which will be built near Jodhpur in Rajasthan, is a part of Jawaharlal Nehru National Solar Mission.
Punj Lloyd Delta Renewables, a Punj Lloyd Group company, won an EPC contract for a centralised water treatment plant at Kharagpur in Bihar.
Huge long positions indicating more upside!
In Futures also, stock is showing huge long build up. When observed from 25th may 2011, the OI surged by 15% with a rise in stock price from Rs.50.85 Rs.58.1 which is a clear indication of long build up. After the good turnaround results some profit booking will come for sure but it will turn in to good opportunity to add more.
With thanks
Be and make
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