Scripscan:Integra Engineering India Ltd
cmp:17
Code:505358
Story:Integra Engineering is a textile machinery company that was known as Schlafhorst Engineering India until May 2011.Its product line includes draw frames, which are used as a spinning preparatory machine by textile mills; automatic winding machines; and speed frames.The company has only one plant in Halol.At one time, it attracted some of the savviest private investors from Mumbai. It is almost a defunct company now. Revenues ranged from a paltry Rs82 lakh in the March 2009 quarter to Rs1.41 crore in the December 2009 quarter, dipping to Rs84 lakh in the March 2010 quarter and rising to Rs1.20 crore in the June 2011 quarter.It has been posting operating losses for most of the past 10 quarters. An almost defunct company with extremely poor financials, of course, has nothing to do with the stock price, as we have been pointing out. The stock soared 200% from Rs5.85 on 24 May 2010 to 17rs presently.Sell and move on to better bets.
Source:ML
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