Scripscan:Supreme Infrastructure India Ltd
Code:532904
cmp:190
Story:Supreme Infrastructure is a construction company that builds roads and also executes projects involving widening and strengthening of roads and highways. The company also operates a ready mix concrete plant for internal consumption and for sale. The company has posted an EPS of Rs 19.50 for the FY09 which means scrip is currently trading at a P/E ratio of less than 10xtimes. Company’s core competency lies in construction/widening of roads & highways, but it also undertakes other infrastructure projects like integrated nallah development, drainage work, laying of railway tracks, construction of minor bridges, development of IT Park, residential tower, RCC building, strengthening of sea wall and laying of tetra pods etc. Its area of operation is mainly concentrated in Mumbai region and few parts of Maharashtra & Bangalore.Importantly, company has its own captive ready mix concrete plant, asphalt mix plant, quarrying and crushing unit & paver block manufacturing unit. With massive order in hand of more than Rs 600 cr and capex plan to double its RMC capacity to 300 cum. per hour, the future looks promising.Governance issues relating to the structure of the real-estate construction business and high unsecured loans from group companies are concerns however.Buy at sub 150 levels.
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