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Punj Lloyd bags order worth `623cr
Punj Lloyd has bagged EPC contract for Falcon Jetfuel Pipeline & Bulk Terminal
Facilities from Emirates National Oil Company (ENOC), wholly owned by the
Government of Dubai. The project is scheduled for commissioning by 2013. The
scope of work for the project entails engineering, procurement and construction
(EPC) of jetfuel pipeline and associated facilities required for jetfuel handling in
tank farm including tanks, filtration system, fast, flush system, pumping and
pigging stations, buildings and E&P. With this order, the company’s total
outstanding order book stands at ~`25,756cr (3.3x 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 `623cr
Punj Lloyd has bagged EPC contract for Falcon Jetfuel Pipeline & Bulk Terminal
Facilities from Emirates National Oil Company (ENOC), wholly owned by the
Government of Dubai. The project is scheduled for commissioning by 2013. The
scope of work for the project entails engineering, procurement and construction
(EPC) of jetfuel pipeline and associated facilities required for jetfuel handling in
tank farm including tanks, filtration system, fast, flush system, pumping and
pigging stations, buildings and E&P. With this order, the company’s total
outstanding order book stands at ~`25,756cr (3.3x 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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