AEGCL awards contract to Salasar Techno Engineering

The shares of Salasar Techno Engineering were up by almost five per cent on Wednesday when the company announced that it had been awarded a contract for the construction of 132/33 KV, 2X50 MVA substation at Nathkuchi (Assam) along with the associated transmission lines from Assam Electricity Grid Corporation Limited (AEGCL).

The project which comes under Assam Infrastructure Financing Authority (AIFA) is to be executed by February 20, 2022, and is estimated to be worth Rs 45 crore.

In its report for the quarter ended December 2019, the company indicated that it had received Engineering, Procurement and Construction (EPC) orders worth Rs 150 crore from various governmental organisations. A balance portion of EPC orders which are under execution and are pending to be billed are of a value of Rs 160 core. Therefore, overall, Rs 310 crore is expected to be added to the top-line during the next three to four quarters.

Apart from above, the company has won EPC tenders of a value Rs 333.68 crore for which Letters of Intent (LoIs) are awaited. The new order received, adds to the already robust order book of the company.

Salasar Techno Engineering Limited provides steel fabrication and infrastructure construction services. The Company offers engineering, procurement, and control services for electrification, power transmission lines, and solar power plants. In addition, the company also provides telecommunication towers, lighting poles, guard rails, sub-station structures, and solar modules.

At 1 pm on Wednesday, the stock was trading at Rs 130.05, up by 4.92 per cent or Rs 6.1 per share. The 52-week high is recorded at Rs 245 and the 52-week low is Rs 86.50 on BSE.