Kalindee Rail on fast track

Kalindee Rail Nigam is on the fast track today, with no red signals! The stock, which had closed at Rs.79.45, opened today morning at Rs.85, hit an intra day high at Rs.92 and it currently remains up almost 11%.

The stock is strongly up in the green post the turnaround numbers which the company posted for Q4FY14, recording a net profit of Rs.13 crore v/s the net loss of Rs.1.29 crore it had for Q4FY13. Its net sales for the quarter was up 59% (YoY) at Rs.100 crore.

And for FY14, the trend has reversed – from a net profit of Rs.8 crore in FY13, it posted a net loss of Rs.7 crore in FY14. Its net sales also declined by around 1.3% at Rs.254 crore.

The company has stated that it was the new management, which came into place in Q4 which helped the turnaround as they have undertaken major reorganization of site working and control at various centers. The new management has also overhauled the entire financial management and ERP is under implementation.