BGR Energy zooms 16 per cent on order win

BGR Energy Systems Limited’s electrical projects division has bagged an order from TamilNadu Transmission Corporation Limited (TANTRANSCO) worth Rs 224.28 crore.

The contract order includes design, detailed engineering, fabrication, manufacture, supply, erection, testing, and commissioning of 400/230-110 kV AIS substation with associated auto transformers, bus reactors, switchgear, accessories, control and relay panels, substation automation system, control room, and complete civil works in TamilNadu on a total turnkey contract basis.

The said contract is expected to be completed within period of 18 months.

Last month, the company was awarded a contract by Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) worth Rs 4,442.75 crore, which is to be completed within 36 months. The scope of contract included design, engineering, and supply of all equipment, civil works, erection, testing, and commissioning of all systems and performance guarantee of power plant.

The company’s current order book excluding the latest order of Rs 224 crore stands at Rs 8,460 crore. This translates book to bill of 2.6x, considering its FY19’s consolidated revenue thereby giving revenue visibility over next 2-3 years.

On Thursday, the stock of BGR Energy zoomed 16.4 per cent, making intra day high of Rs 40.75 from its previous close of Rs 35.