PSL bags orders worth Rs 1000 cr in Q1 of FY12

4529 Investors following PSL. Share this News with them.

0

Like this story, share it with millions of investors on M3

PSL bags orders worth Rs 1000 cr in Q1 of FY12

Confirming the market buzz of bagging an order from MTPC, Ashok Punj, MD of PSL says the gas pipe industry may get a fillip in the near future with contracts coming from GSPL. Talking about the inflows, he says, "In the first quarter of the year 2011-12, we have added orders to the total of about Rs 1000 crore."

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See latest News about PSL See previous management interviews See what other Experts & Brokerages are saying about PSL PSL BSE | NSE 29/05/12 Are Mutual Funds betting on PSL? Other Stocks in this news GSPL (India) |

Confirming the market buzz of bagging an order from MTPC, Ashok Punj, MD of PSL says the gas pipe industry may get a fillip in the near future with contracts coming from GSPL . He also says the value of the orders in the pipeline, for which the company is facing 'fierce' competition, would be at about Rs 3,000-3,500 crore.

Talking about the inflows, he says, "In the first quarter of the year 2011-12, we have added orders to the total of about Rs 1000 crore."

Below is a trancript of Ashok Punj's interview with CNBC-TV18. Also watch the accompanying video.

Q: There is a lot of buzz in the market that the company might be on the anvil of bagging a big order, would you like to confirm or deny this for us?

A: I would like to confirm we have bagged an order from MTPC. It is a prestigious order for their Solapur mega power project. We also announced some time back an order from Gail for but the present buzz may lead to a general uplifting trend in the gas pipeline business because of certain reliefs and string of stay orders from the Supreme Court to one of the major owners of the gas spread in India, which is to be laid by GSPL. I believe some work on that may start in the near future and would certainly add a fillip to our gas pipe industry.

Q: Are you bidding for orders from GSPL?

A: We have participated in tenders for this but we are not at the award stage. If it happens in the future, it will provide huge fillip.

Q: Could you tell us the size of these tenders that have opened up?

A: The three pipeline projects that have been awarded by the gas regulator which in terms of pipe supply value would be of the order of about Rs 3000-3500 crore and hence, hey are very large projects.

Q: We wanted to understand what is the kind of competition that you face? How much of this large chunk of Rs 3000-3500 orders could come to you all?

A: The competition is fierce but our advantage is that we have units located at diverse geographic points within the country which would give us a strategic and a cost advantage in supplying. We would certainly look to use that advantage to our benefit.

Q: What are the tenders that you have possibly put in bids for besides GSPL?

A: We are bullish and hopeful that our US business will receive pick up in the gas pipe market in that country. We are looking for additional orders there. I would say that would be other major development.

Q: In terms of quantum of inflow in FY12, in terms of orders what would you be working with internally?

A: In the first quarter of the year 2011-12, we have added orders to the total of about Rs 1000 crore.