Sunil hitech engineers net profit up by 47.13%

Sunil Hitech Engineers Limited (SHEL), a leading construction company focused on infrastructure projects and renewable energy, today announced its unaudited financial results for the first quarter ended June 30, 2014.

Total revenue for the quarter ended June 30, 2014 (Q1FY15) increased by 28.16% to Rs. 384.45 crore as against Rs. 299.97 crore in the quarter ended June 30, 2013 (Q1FY14). Earnings before Interest, Depreciation and Taxation (EBIDTA) registered an increase
of 33.86% to Rs. 40.85 crore from Rs. 30.51 crore.

Net profit for the quarter surged by 47.13% to Rs. 9.03 crore from Rs. 6.14 crore in Q1FY14. Earnings per share (EPS) for Q1FY15 stood at 32.6% to Rs. 6.63.

Recently, the company also bagged 5-MW solar project under Jawaharlal Nehru National Solar Mission (JNNSM) Phase II Batch I in Maharashtra.

Commenting on the company’s performance, Mr. Sunil Gutte, Joint Managing Director SHEL said, “With the Indian economy staging a slow yet sure revival in the past few months, we remain optimistic about posting a robust performance in the coming quarters. With over 30 years of experience in the sector, strong balance sheet and robust inflows in projects, SHEL is in a position to benefit from opportunities the new government is creating in the sector through firm changes in existing policy and regulations”.

About Sunil Hitech Engineers Limited
Incorporated in the year 1984, Sunil Hitech Engineers Ltd (SHEL) has been promoted by first-gen promoter, Mr. Ratnakar. M. Gutte. The company is well-established player in EPC and BOP space.

It provides an end- to- end solution for building residential/commercial/industrial properties, roads & railways, cross country pipelines, fabrication-erection-testing-commissioning and generating electricity from renewable sources of energy. SHEL has presence in 13 states and executed 30 projects till date.

Its major clients include NTPC, BHEL, L&T, JSW, Reliance, SAIL, Adani. The company recently engaged experts from the field on their board and is on the path of taking its renewable energy and Infra business at a higher level.