Feb 27, 2009

New orders fuel Everest Kanto Cylinder

26 Feb 2009 | 14:12 New orders fuel Everest Kanto Cylinder

The company announced the orders during trading hours today, 26 February 2009.

Meanwhile, the BSE Sensex was down 37.02 points, or 0.42%, to 8,865.54.

On BSE, 1.64 lakh shares were traded in the counter. The stock had an average daily volume of 74,012 shares in the past one quarter.

The stock hit a high of Rs 101 and a low of Rs 95.90 so far during the day. The stock hit a 52-week high of Rs 356 on 2 May 2008 and a 52-week low of Rs 89.50 on 25 February 2009.

The small-cap stock had underperformed the market over the past one month till 25 February 2009, declining 29.80% as compared to the Sensex's rise of 2.63%. It had also underperformed the market in the past one quarter, declining 31.43% as compared to the Sensex's 2.38% rise.

The company's current equity is Rs 5.15 crore. Face value per share is Rs 10.

The current price of Rs 99.60 discounts the company's Q3 December 2008 annualized EPS of Rs 3.25, by a PE multiple of 30.65.

US based Cp Industries Holdings, Inc. a step down wholly owned subsidiary of Everest Kanto Cylinder has received orders aggregating to $5.8 million from National Oilwell Varco, Rig Solutions Group. In addition, it also received an order worth $7.2 million for supply of large pressure vessels.

Everest Kanto Cylinder's net profit fell 47.9% to Rs 8.23 crore on 0.7% increase in net sales to Rs 81.18 crore in Q3 December 2008 over Q3 December 2007.

Everest Kanto Cylinder is engaged in manufacturing high-pressure gas cylinders with the higher water capacity.