Electrotherm (India) has posted very encouraging results for the third quarter ended 31st December 2007. YoY, its net sales rose by a robust 82% at Rs.381.91crore. PBT was at Rs.30.04 crore, up by 85% and PAT zoomed up by 72% at Rs.19.73 crore. On an equity of Rs.9.13 crore, its basic EPS for Q3 was at Rs.21.60.The biggest contributor to the topline has been the engineering projects and special steel divisions.
The company has bagged orders worth US $ 14.06 Million (US Dollar Fourteen Million Six Thousand Only) from Istanbul, Turkey. The deadline for dispatch of first part of the order is before the end of March 2008 and the balance by the December 2008.
The company recently launched its corrosion-resistant steel (CRS) bars, expected to increase the life-span of buildings. It has invested nearly Rs.514 crore so far in its fully integrated steel plant at Samkhyali in Kutch that came up in 280 acres after the Centre and the Gujarat Government gave tax incentives in the district ravaged by the 2001 earthquake.
The company’s electric motorcycles sought to revolutionise the Indian automotive market, is currently having a bumpy ride. The company has seen a slide in sales of the Yo-bykes. In April-Dec 2007, the electric vehicle division could generate only Rs.36.86 crore compared to Rs.51.77 crore in the same period the previous year, posting a drop of nearly 29%.
The company is also planning to invest Rs.300 crore in expanding its engineering projects division, steel, power and electric vehicles divisions over the next one year. To fund its expansion, the company intends to offload nearly 12.5% stake worth Rs.82 crore to DEG of Germany. It is also planning to raise funds via QIPs to the tune of Rs.300 crore.
Currently quoted at Rs.364, stay invested.
The company has bagged orders worth US $ 14.06 Million (US Dollar Fourteen Million Six Thousand Only) from Istanbul, Turkey. The deadline for dispatch of first part of the order is before the end of March 2008 and the balance by the December 2008.
The company recently launched its corrosion-resistant steel (CRS) bars, expected to increase the life-span of buildings. It has invested nearly Rs.514 crore so far in its fully integrated steel plant at Samkhyali in Kutch that came up in 280 acres after the Centre and the Gujarat Government gave tax incentives in the district ravaged by the 2001 earthquake.
The company’s electric motorcycles sought to revolutionise the Indian automotive market, is currently having a bumpy ride. The company has seen a slide in sales of the Yo-bykes. In April-Dec 2007, the electric vehicle division could generate only Rs.36.86 crore compared to Rs.51.77 crore in the same period the previous year, posting a drop of nearly 29%.
The company is also planning to invest Rs.300 crore in expanding its engineering projects division, steel, power and electric vehicles divisions over the next one year. To fund its expansion, the company intends to offload nearly 12.5% stake worth Rs.82 crore to DEG of Germany. It is also planning to raise funds via QIPs to the tune of Rs.300 crore.
Currently quoted at Rs.364, stay invested.
Source: Sptulsian.com
