Quarterly Anlysis: Sunil Hitech Engineers Limited

Research report by 'Ventura Securities Ltd'
     
Sunil Hitech Engineers Limited (SHEL) has declared subdued results for the quarter ended September 2008. The revenues were better than expectations; however profit growth was below expectations on account of higher input costs & escalation in interest costs.

Sunil Hitech Engineers has reported a YoY growth of 89% in its revenues from Rs 69.5 crore in Q2FY08 to Rs 131.1 crore in Q2FY09. However PAT growth was subdued at 31% from Rs 5.2 crore to Rs 6.9 crore during the same period. OPM margins which were down nearly 200 basis points at 14.4% resulted in the muted profit growth. Rising input costs during the period under review led to squeeze in margins.

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