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Punj Lloyd bags order worth `330cr
Punj Lloyd has bagged an order for process facilities and utilities at an upcoming crude oil
storage cavern in Mangalore, Karnataka, worth `330cr. This project has been awarded by
Indian Strategic Petroleum Reserves Ltd. and is expected to be completed within 29
months. The scope of work involves EPC and commissioning of systems for crude oil
receipt, pumping out, metering, recirculation, heating, waste water treatment, utilities
production, flaring and operation buildings. With this order, the company’s total
outstanding order book stands at ~`25,739cr (3.2x FY2011 revenue). Owing to the
uncertainty over receivable claims and overhangs on the stock because of lack of clarity on
various issues (execution, margin and Libyan projects) and slowdown in order inflow,
we maintain our Neutral view on the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Punj Lloyd bags order worth `330cr
Punj Lloyd has bagged an order for process facilities and utilities at an upcoming crude oil
storage cavern in Mangalore, Karnataka, worth `330cr. This project has been awarded by
Indian Strategic Petroleum Reserves Ltd. and is expected to be completed within 29
months. The scope of work involves EPC and commissioning of systems for crude oil
receipt, pumping out, metering, recirculation, heating, waste water treatment, utilities
production, flaring and operation buildings. With this order, the company’s total
outstanding order book stands at ~`25,739cr (3.2x FY2011 revenue). Owing to the
uncertainty over receivable claims and overhangs on the stock because of lack of clarity on
various issues (execution, margin and Libyan projects) and slowdown in order inflow,
we maintain our Neutral view on the stock.
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