Om Metals Infraprojects Ltd., a front-runner hydro-mechanical engineering company, today announced its financial results for the Fourth quarter ended March 31th, 2010.
Full year Performance:
Net profit for year ended March 31, 2010 was at Rs. 32.51 crore, as compared to Rs. 24.82 crore in FY09, registering a growth of 30.98%. The income from operations for the year ended March 31, 2010, grew by 90.33% to Rs. 196.64 crore, as compared to Rs. 103.32 crore in FY09.
In segment wise revenue breakup- revenue for core business engineering division stood at 180.42 crore as against 76.90 crore registering a growth of 134.61% and EBITA stood at 35.97 crore as against 16.94 crore of the last corresponding period, registering a growth of 112.33%.
Earnings per Share for FY10 stood at Rs 3.38 as compared to Rs 2.58 in the corresponding period last year.
Q4 Performance:
Net profit for the Q4FY10 is up by 68.89% to Rs 8.79 crore, as compared to Rs 5.21 crore in the corresponding period of last Fiscal (Q4FY09). The income from operations for the quarter rose by 111.59% at Rs 62.60 crore as against Rs 29.59 crore during the same period previous year.
The earning per share for the quarter stood at Rs 0.91 as on March 2010 compared to Rs 0.54 in the corresponding quarter last year.
Management Comments
Mr. Vikas Kothari, Director – Business Development, Om Metal Infraprojects Ltd, said “As a part of our continuing strategy we will be bidding for larger projects to enhance our portfolio. We are confident that the order book growth will be the highest this year. Our focus will continue to remain in high margin areas like hydro power and irrigation, both in India and worldwide.” he further added.
Major Developments:
Om Metals recently won the largest hydro-mechanical works order worth Rs 206 crore from the State of Rajasthan. The order entitles them to engage in the construction of hydro-mechanical works of the Kalisindh Gravity Dam in Jhalawar District. The scope of activity will include and involve engineering, procurement and construction work, supply, installation, testing and commissioning of hydro-mechanical components. This project is a part of the massive modernization program undertaken by the Rajasthan State Government.
The Company launched its second residential project in Kota, ‘Om Urban Heights’, after successful completion of ‘Om Enclave’.The project is spread over 10, 000 sq. meter area of land and is strategically located at Rawat bhata by-pass in Kota, Rajasthan. Om Urban Heights includes the development of 200 apartments comprising of 1, 2, 3 and 4 BHK. The expected realization from the project would be Rs. 55 crore spread over one and half years. The expected investment in the project including construction cost would be Rs. 32 crore. The Company has pre sold 25% of the project. The cash flows of the project will take care of the entire cost of the project.
The Company has successfully completed the execution of ‘Om Enclave’ which offers magnificent, ultra modern, complete residential township right on NH 12 during the year. The company has already realized Rs. 30 crore from the project. The possession of all the flats in “Om Enclave” are given by end of March 2010.
During the year, Om Metals was awarded the prestigious ‘Emerging India Awards’ in the Infrastructure Category in ICICI Bank and CNBC- TV18's Emerging India Awards 2009, powered by CRISIL. The award was received by Dr. T C Kothari, Founder and Chairman, at a function in New Delhi from Honorable Union Home Minister Shri P. Chidambaram and ICICI CEO - Mrs. Chanda Kochar.
About Om Metals Infraprojects Ltd.
Om Metals Infraprojects Ltd. (OCI) (BSE Code: 531092) is an ISO 9001 certified company, set up in 1971, has flourished into a front-runner hydro-mechanical engineering company in the country with many achievements to its credit. It has leveraged its capabilities and skills in the development and construction sectors, where, engineering, steel fabrication and turnkey projects form a significant component for hydro-electric power, irrigation and river linking projects coming up in the country and abroad. The company is also engaged in the real estate projects like developing residential, commercial, entertainment, leisure and hotel formats in the country. In 2009, the company forayed into the development of SEZ and ports. The company has been aggressively exploring the business of road/highway development, development of solar power project. Om Metals has recently been pre-qualified for submitting a tender by Ministry of Home affairs for development of massive housing cluster in different parts of the country.
Visit www.ommetals.com
