Shriram EPC surges over 15 per cent on order win of Rs. 84 crore

Construction and engineering company Shriram EPC surged steeply by nearly 16 per cent on the bourses on Wednesday following the announcement of an order win worth Rs. 84 crore. The company bagged the order from the Drinking Water and Sanitation Department of the Government of Jharkhand.

Under the deal, Shriram EPC will be setting up drinking water and sanitation facilities for Baghmara and other adhjoining villages under Rural Water Supply Scheme of DWS Division, Dhanbad on a turnkey basis.

In the second quarter of the fiscal year 2018, the company posted a surge in net profit by 111 per cent to Rs. 2.44 crore as against a loss of Rs. 21.81 crore in the same quarter of the previous fiscal year. On annual front, the company’s net loss narrowed in FY17 on a yearly basis. The company posted a net loss of Rs. 231.74 crore in the fiscal year 2017. The company posted a book value of Rs. 16.84 crore as of March 2017. Its interest cover ratio for the fiscal year was 0.06x.

Shriram EPC hit an intraday high of Rs. 32 per share and an intraday low of Rs. 30.50 per share on BSE on Wednesday. The stock had hit its 52-week high of Rs. 33.90 per share on December 27, 2017 and its 52-week low of Rs. 17.20 per share on October 18, 2017 on BSE, respectively. At 1252 hours IST, the stock was trading at Rs. 30.40 per share, higher by 9.95 per cent on BSE. Meanwhile, the S&P BSE Sensex was trading at 36,110.65 level, lower by 0.08 per cent and NSE Nifty 50 was trading at 11,063.75 level, lower by 0.18 per cent, respectively.