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Monday, August 18, 2014

Suni Hitech Engineers - BSE: 532711, NSE: SUNILHITEC (June 14 Qtr Result updates)

Sunil HiTech was identified at Rs53 about 6 months ago and booked profit at around 145 about 2 months ago. The stock is now around Rs 122 levels.

My original post: http://goo.gl/wqlq6o

It has given good set of numbers for first quarter ended on 30th June 2014.

- YoY quarterly Sales increased by 29% and profit by 47%
- Comparing QoQ Sales and NI may not be appropriate as the March quarter is hyper active for such companies/industry
- Promoters holding increased by around 4.5% due to Conversion of Warrants.
- High finance cost still remains an area of concern.
- See the original post + comments to understand the rational for investment in Sunil Hitech: http://goo.gl/wqlq6o

See results here: http://www.bseindia.com/xml-data/corpfiling/AttachHis/Sunil_Hitech_Engineers_Ltd_140814_Rst.pdf

Disc: Entered into the stock.

Niteen S Dharmawat
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IMPORTANT DISCLAIMER: Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it & take no responsibility whatsoever for any financial profits or loss which may arise from the discussion thread above/anywhere in communication. It is safe to assume that I, my family, friends have vested interest in the stock idea discussed here. Please do your homework and take the help of a qualified advisor before you take any financial decision.


Niteen S Dharmawat said...

The company reported new orders worth Rs137Crores. Check it out here:


Niteen S Dharmawat said...

Unless there is a reason to believe otherwise, this seems to be a serious corporate governance issue where auditors have intimated their unwillingness to be reappointed as Statutory Auditors. I am exiting from the stock.

Scripcode : 532711 Company : SUNILHITEC

Change in Statutory Auditors 02 Sep 2014 13:48
Sunil Hitech Engineers Ltd has informed BSE that the Statutory Auditors of the Company M/s. Kapoor & Parekh Associates, Chartered Accountants have intimated their unwillingness to be reappointed as Statutory Auditors of the Company at the ensuing Annual General Meeting. The Board of Directors has received consent and eligibility from the M/s. V. Sankar Aiyar & Co. Chartered Accountants for appointment as statutory auditors in place of retiring auditors of the Company. The Board has recommended the appointment of M/s. V. Sankar Aiyar & Co. Chartered Accountants as statutory auditors at the ensuing Annual General Meeting to hold office from the conclusion of ensuing Annual General Meeting to the next Annual General Meeting of the Company