Punj Lloyd builds on new order win
The company made this announcement during trading hours today, 12 December 2007.
Meanwhile, BSE Sensex was up 112.64 points or 0.56% to 20,403.53, on hopes the US interest rate cut announced on Tuesday, 11 December 2007, would trigger more foreign fund inflows.
On BSE 10.67 lakh shares were traded in the counter. The stock had an average daily volume of 8.56 lakh shares in the past one quarter.
The stock hit a high of Rs 558 so far during the day, which is a record high. The stock touched a low of Rs 507 so far during the day. The stock had a 52-week low of Rs 142.31 on 7 March 2007.
The mid-cap scrip had underperformed the market over the past one month till 11 December 2007, gaining 3.37% as compared to the Sensex’s return of 8.29%. It had outperformed the market in the past one quarter, gaining 72.13% as compared to the Sensex’s rise of 30.86%.
The company’s current equity is Rs 59.42. Face value per share is Rs 2.
The current price of Rs 556 discounts Q2 September 2007 annualized EPS of Rs 4.31 by a PE multiple of 129.
The scope of work includes a 3.7 million metric tonnes per annum (MTPA) delayed coking unit and a 160 trillion MTPA LPG Merox Unit. The project is to be executed within 28 months. The project is worth Rs 590 crore.
With this, the order backlog for the Punj Lloyd group on consolidated basis has gone up to Rs 18,484 crore. This is the total value of unexecuted orders as of 30 September 2007 and new orders received till date.
On 30 November 2007, Punj Lloyd’s subsidiary Sembawang Engineers & Constructors bagged a Rs 1272 crore order for architectural, civil and structural works from Land Transport Authority, Singapore.
On 5 November 2007, Punj Lloyd said its unit won Rs 1770 crore contract to build facilities at a chemical factory for Jurong Aromatics Corporation in Singapore.
On 12 October 2007, Punj Lloyd secured a contract to construct a multi-product pipeline for Qatar Petroleum on an engineering, procurement, construction, (EPC) basis. The value of the contract is Rs 389 crore.
On 17 September 2007, the company entered into a subscription and shareholders agreement with Pipavav Shipyard (PSL) for acquiring 12.93 crore equity shares of Rs 10 at a price of Rs 27 per equity share aggregating to Rs 349.28 crore.
Punj Lloyd’s net profit rose 3921.08% to Rs 31.37 crore on 158.4% rise in sales to Rs 1038.57 crore in Q2 September 2007 over Q2 September 2006.
The company provides engineering, designing, procurement, construction and project management services for energy industry and infrastructure sector projects