Elecon bags orders worth Rs 524.2 cr

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Elecon Engineering Company Limited, India's largest Material Handling Equipments, Industrial Gears and Transmission Products manufacturer today announced five major orders bagged by their Material Handling Equipment (MHE) division totaling to Rs. 524.2 crores.

 

Highlights

 

Orders From Indian Companies

 

Bramhani Industries Limited

·     Two orders totaling to Rs.400 crores for supply of plant and equipment for Raw Material handling System Package for designing, engineering, manufacturing, procurement, inspection, assembly, painting, shop testing, supply of plant and equipment including additional equipment, commissioning spares, freight and transit insurance on FOR site basis.

 

Bharat Heavy Electricals Limited

·     Two orders totaling to Rs.68.69 crores, for designing, engineering, supply and transportation of Mechanical Equipments and receipt, storage, transportation, erection, testing, commissioning & PG test for 2X250 MW SIKKA TPS Project.

 

Tecpro Systems Limited

·     Order worth Rs. 31.24 crores for supply of equipments for integrated coal handling plant Unit 3 & 4 for 2x300 MW Rosa Thermal Power Project.

 

International Orders

 

Sponge Iron and Steel Co., Egypt

·  Order worth Rs. 21.54 crores for two Stackers / Reclaimers for DRI Plant to be installed in Sadat City, Arab Republic of Egypt.

PT. Tecgates Engineering, Indonesia

·  Order worth Rs.2.73 crores for Project - PLTU 1 Jawa Tengah 2 x (300-400MW) Coal Fired Power Plant at Rembang, JawaTengah, Indonesia.

 

Elecon has encompassed all the major core sectors through its supplies of highly sophisticated equipment bearing ample testimony of the symbolic mark of Elecon's unbeatable technology. By consistently upgrading the technology with flexible machining systems, quality control equipment, online computerized inventory control and execution programmes managed by using state of the art ERP software, the company has remained ahead of the competition. Elecon has thus, made its presence felt through consistent and satisfactory performance of its equipment in such core sectors as fertilizer, cement, coal/power generation, chemical, steel plant and port mechanization etc., in national and international markets.

 

Commenting on the big order wins, Mr. Prayasvin Patel, Chairman and Managing Director, Elecon said, "We are delighted to have procured prestigious orders worth Rs. 587 crores. These large orders reflect growth in both national and international market and are a result of Elecon's increasing marketing efforts. We look forward to continuing this trend".

 

April- June 2008 Quarter Performance

Elecon Engineering recently announced its unaudited financial results for the quarter ended 30^th June, 2008. The company has recorded a turnover of Rs. 168.65 crores as against Rs. 129.01 crores in the previous year, representing a growth of 31%. Net profit (PAT) grew by 15% at Rs. 11.94 crores as against Rs. 10.41 crores in the corresponding period last year.

 

Elecon's unexecuted order value as on 31^st July, 2008 is Rs. 1810.4 crores.

 

Sourced From: Madison Public Relations