DP Money watch - Conart Engineers, A Dark Horse in the Infrastructure Sector

October 11, 2009 by Ashok
Filed under Business, Financial Markets

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Conart Engineers is an ISO 9000 / 9001 certified detailed engineering, procurement and construction company specializing in Industrial, Commercial, Residential roads and bridges. The Company has a proven record of successful project completion, with several awards and recognitions. It was awarded the ACCE L&T Endowment Award for excellence in construction. NICMAR-200 has listed the company as one of India’s fastest growing companies in the construction division. This will enable the company to maintain its existing clientele and secure new ones. The Present order position is close to Rs. 30 crores while the Company’s market capitalization is barely Rs. 6 crores. Order book is likely to touch Rs. 50 crores in FY10.

On the Financial front, the Company is doing well. The top line has improved by up to 50 % during the last 2 years, while the bottom line has increased by more than 100%.

Scrip Code : 522231 Company : Conart Engineers Ltd

Type	Audited	Audited	Audited	Audited
Period Ending	31-Mar-09	31-Mar-08	31-Mar-07	31-Mar-06
No. of Months	12	12	12	12
Description	Amount(Rs. million)
Net Sales / Interest Earned / Operating Income	284.78	254.85	191.09	190.85
Other Income	4.53	3.83	3.63	2.80
Total Income	289.31	258.68	194.72	193.65
Expenditure	-260.85	-233.23	-179.79	-175.96
Operating Profit	28.46	25.45	14.93	17.69
Interest	-1.09	-1.60	-1.14	-0.77
Profit Before Depreciation and Tax	27.37	23.85	13.79	16.92
Depreciation	-2.98	-2.67	-2.19	-1.96
Profit before Tax	24.39	21.18	11.61	14.96
Tax	-8.22	-7.01	-4.17	-4.56
Net Profit	16.17	14.17	7.44	10.40
Equity Capital	30.00	30.00	30.00	30.00
Reserves	76.60	60.43	46.53	38.99
Basic And Diluted EPS after Extraordinary item	5.39	4.72	2.48	3.47
Nos. of Shares - Public	1,804,715.00	1,804,915.00	1,784,160.00	1,785,580.00
Percent of Shares-Public	60.16	60.16	59.47	59.52
Operating Profit Margin	9.99	9.99	7.81	9.27
Net Profit Margin	5.68	5.56	3.89	5.45
Cash EPS	6.38	5.61	-	-

Results reproduced from BseIndia

The Share is available at P/E of 4 and is an excellent BUY at CMP of Rs. 20. Target price is Rs. 40 in less than a year.

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information

Tags: Business, conart, construction, engineers, equity, shares, stock