Equity Watch

Conart Engineers, a Dark Horse in infrastructure sector

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

On the Financial front, Company is doing pretty well. While the top line has gone up by 50 % during the last 2 years, the bottom line is up 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
  Notes

Financials from bseindia

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

 

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4 thoughts on “Conart Engineers, a Dark Horse in infrastructure sector

  1. DINESH says:

    What is your view on Conart today. The scrip had touched a high of Rs.26.95 on 17/11/09 and has come down substantially. CMP is Rs. 21-22. What should be the strategy now?

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