Emco eyes Rs 1,000 cr new orders in FY09
Mumbai-based transformer manufacturing company, Emco Ltd, has
targeted fresh orders worth Rs 1,000 crore during the current fiscal year.
Speaking to Projectmonitor, Rajesh Jain, Chairman & Managing Director, said that
major demand was expected from the transmission system strengthening programme
of state government utilities and power evacuation programmes of independent
power producers. This year's target would double the achievement of 2007-08 when
the company had received new orders worth Rs 512 crore.
"Emco's current order book position is Rs 460 crore which is in line with our
business plans. Some more projects worth Rs 80 crore are expected from Power
Grid Corporation of India Ltd and Maharashtra State Electricity Transmission
Company Ltd by June 2008," Jain said, commenting on the medium-term prospects.
The company's order book had grown by over 50 per cent to Rs 330 crore as of
March 31, 2008, from the comparable level of Rs 218 crore last year. In May this
year Emco had won a Rs 126-crore order for the Mundka substation from Delhi
Transco. This is the company's single largest order for a power substation. On
the achievement, Jain noted, "Delhi Transco is a prestigious client having a
large number of projects for gas-insulated substations, cables and EHV
substations. We have made a good start with the Mundka substation and rate
highly the prospects from this client."
[June 9-15, 2008]