SPML Infra bags orders worth Rs. 205 crore

Infrastructure company SPML Infra along with its joint venture partner OM Metals Infraprojects bagged an international order worth Rs. 205 crore from the Ministry of Food and Agriculture, Republic of Ghana. The project will involve work concerning the rehabilitation and completion of Kpong Left bank irrigation project at Ghana in Africa.

The company had posted significant hike in the profit after tax of the company from a negative Rs. 3.70 crore in the second quarter of FY17 to Rs. 8.15 crore in the second quarter of the fiscal year 2018. The company also recorded a surge in profit by 9.95 per cent for the fiscal year 2017 on a yearly basis. However, the company’s interest coverage ratio stood at 1.09x for the fiscal year 2017, signaling towards a probable inability to meet expenses.  

SPML Infra has surged by over 161 per cent on the bourses in the past one year. On Thursday, the stock hit an intraday high of Rs. 150.25 per share and an intraday low of Rs. 143.30 per share on BSE. The stock ended at Rs. 143.95 per share, lower by 0.52 per cent on BSE. Meanwhile, S&P BSE Sensex ended at 35,260.29 level, higher by 0.51 per cent and NSE Nifty 50 ended at 10,817 level, higher by 0.26 per cent on Thursday.