Tecpro Systems has underperformed Sensex
Last year in December Tecpro Systems have listed itself on the bourses and since then it has underperformed and reported a fall of 41% in the Sensex during the period. Reports also suggest that in last five years company has recorded fantastic growth in sales and operating profits and last year only it has registered a strong financial performance.
All the big power plants like, cement and steel industries depend upon Tecpro Systems as a turnkey solutions provider for bulk material handling. The company is also capable of handling coal and ash.
During period ended March 2011, company’s top line grew 35% to Rs 1,973 crore while is bottom line rose by more than 24%. For the year, company’s operating profits raised by 60 basis points only because of its inability to cope up with rising commodity prices. There is a turn down of 19% in material costs.
Rising interest rates have affected company’s margins and profitability.
In addition to a service provider to handle bulk materials, company has now moved to become a complete Balance of Plant (BoP) package provider.
Currently, Tecpro Systems stocks are at market price of Rs 262.
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