Om Metals secures EPC orders worth Rs. 615.16 crore

Om Metals Infraprojects bagged an order of Rs. 615.16 crore from the Water Resources Department, Government of Rajasthan. The contract is awarded on EPC basis and is inclusive of operations and maintenance for 5 years. 

The scope of work involves the planning, designing, drawings and construction of Isarda Dam across the Banas River in Rajasthan. 

Om Metals is a leading conglomerate functioning in diverse business fields concerning hydro-mechanical equipment and hydropower developments. It has also forayed into real estate, entertainment centres and hotels. It provides turnkey solutions for steel fabrication and structural steel design for bridges, large buildings and heavy engineering works. 

As of September 30, 2018, the company had a robust order book of Rs. 764 crore. Moreover, it has been exploring bids for projects to the tune of US$ 60 million in international markets. Its order book is expected to close at Rs. 1,500 to Rs. 1,800 crore by FY19. The company is expecting further cash inflows as it is planning to monetize its non-core assets. It has plans to divest its stake in Hotel Om Tower at an approved valuation of Rs. 36.3 crore. 

On Thursday, the stock of Om Metals opened at Rs. 37.10 per share and hit a high and low of Rs. 41.35 and Rs. 37.10, respectively. At 11:20 hours, the stock was trading at Rs. 39.00 per share, up 12.39 per cent.