Daljeet Singh Kohli of Emkay Global Financial Services is of the view that Sunil Hitech Engineers has target of Rs 280.

 Kohli told CNBC-TV18, "Sunil Hitech Engineers is more to do with the infrastructure related space and it is into fabrication, engineering, erection and commissioning of power plants. It has an excellent track record of past three-four years where it has shown its execution capabilities, which is the major criteria to judge this kind of a company and this has been showing this 30-40% growth every year-on-year for past three-four years."

He further added, "This company has a very strong order book position of around Rs 800 crore, which is around 3-times of its FY08 sales. These orders have to be executed within 18-24 months and the good thing is that these orders are again diversified in nature. Some of them are from distribution, some of them are from generation companies and some of them are from even steel companies. The company recently has got an order of Rs 100 crore out of which Rs 90 crore is from NTPC and Rs 10 crore is from JSW Steel. So that gives a visibility of company’s revenues as well as its capability of executing different things."

"The company is focusing on getting value added. It is focusing on BOP projects that’s balance of plant work. So that is again a major portion out of total power project cost 40-45% will come from BOP, which this company is targeting at and it has shown the capability of taking over those challenges."

"In FY08 the company has shown net sales growth of 112% and PAT growth of phenomenal of 178%. So we are extremely bullish on the company’s performance and as per our meetings with the management we have seen that they have the bandwidth to execute these projects. So we have a target of FY09 sales of Rs 386 crore again which is very conservative target and considering all sorts of input pressures all sorts of compression and EBITDA margins, we still feel that the company has a potential to earn around Rs 24 crore in this FY09, which gives us a DCF-based target rise of Rs 280."

Disclosure: Analyst doesn't hold the above stock but have recommended them to the clients.