This Article is From Nov 25, 2011

Nagarjuna Construction surges on robust Q4 numbers

Nagarjuna Construction surges on robust Q4 numbers
Nagarjuna Construction Company gained 4% to Rs 161.05 at 10:20 IST on BSE, after net profit jumped 168.6% to Rs 102.62 crore on 38.9% rise in net sales to Rs 1521.81 crore in Q4 March 2010 over Q4 March 2009.


The company announced its results after market hours on Tuesday, 25 May 2010.


Meanwhile, the BSE Sensex was up 238.42 points, or 1.49% to 16,260.90.


On BSE, 78,425 shares were traded in the counter as against an average daily volume of 1.11 lakh shares in the past one quarter.


The stock hit a high of Rs 174 and a low of Rs 160.05 so far during the day. The stock had hit a 52-week high of Rs 195 on 30 April 2010 and a 52-week low of Rs 113.50 on 13 July 2009.


The mid-cap stock had underperformed the market over the past one month till 25 May 2010, falling 16.16% as compared to the Sensex's 9.45% decline. It had outperformed the market in the past one quarter, gaining 2.62% as compared to the Sensex's 1.43% fall.


The company's equity capital is Rs 51.31 crore. Face value per share is Rs 2.


Net profit surged 51.2% to Rs 232.62 crore on 15.9% increase in net sales to Rs 4775.30 crore in the year ended March 2010 over the year ended March 2009.


On a consolidated basis, the company's net profit soared 55.9% to Rs 282.74 crore on 22.1% rise in net sales to Rs 5767.68 crore in the year ended March 2010 over the year ended March 2009.


Nagarjuna Construction Company (NCC)'s order book as on 31 March 2010 stood at Rs 15,370, which is 3.22 times its sales of Rs 4775.30 crore for the year ended March 2010, giving a strong revenue visibility.


The company has targeted to achieve a consolidated turnover of Rs 7300 crore for the year ended March 2011.


At the time of announcing the results, the board of directors of the company recommended a dividend of Rs 1.30 per share (65%) for the year ended March 2010.