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    Simplex Castings soars on new order win
    9/5/2008
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    Simplex Castings spurted 11.78% to Rs 56 at 10:26 IST on BSE after the company said that its consortium with Hyundai Heavy Industries won an order worth Rs 62.58 crore from Steel Authority of India.

    The company made this announcement after trading hours on Wednesday, 6 August 2008.

    Meanwhile, the BSE Sensex was down 32.68 points, or 0.22%, to 15,040.86.

    On BSE, 6,277 shares were traded in the counter. The scrip had an average daily volume of 3,610 shares in the past one quarter.

    The stock hit a high of Rs 58.80 and a low of Rs 52.55 so far during the day. The stock had hit a 52-week high of Rs 113.30 on 13 December 2007 and a 52-week low of Rs 43 on 4 July 2008.

    The small-cap company had underperformed the market over the past one month till 6 August 2008, gaining 6.60% compared to the Sensex¡¯s return of 12.91%. It had also underperformed the market in the past one quarter, declining 32.07% compared to Sensex¡¯s decline of 11.75%.

    The company has an equity capital of Rs 5.98 crore. Face value per share is Rs 10.

    The current price of Rs 56 discounts its Q1 June 2008 annualised EPS of Rs 9.16, by a PE multiple of 6.11.

    Simplex Castings (SCL)¡¯s net profit rose 9.6% to Rs 1.37 crore on 1.1% increase in net sales to Rs 33.01 crore in Q1 June 2008 over Q1 June 2007.

    The company manufactures engineering products, castings and equipments. The company's products include ingot moulds, alloy steel ingots and parts of industrial furnaces and ovens. The plants are situated in and around Bhilai, Madhya Pradesh, India.



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