Bajaj Electricals gains post new order win
Bajaj Electricals' engineering & project division has won order worth Rs. 3,577.93 crore in the State of Uttar Pradesh from Madhyanchal Vidyut Vitran Nigam Limited (MWNL).
The order consists of rural/urban electrification and related work on a turnkey basis under the Saubhagya Yojna of Government of India, the company informed the bourses on Monday.
The company further stated that this order shall get complete in 15 months from the date of issue of letter of intent.
In the last week of this month, the company bagged orders for rural electrification projects worth Rs. 2,389.03 crore from Purvanchal Vidyut Vitran Nigam Limited (PuVVNL) in the state of Uttar Pradesh.
In addition to these recent order wins, engineering & projects division’s order book as on February 1, 2018 stood at Rs. 3,072.3 crore.
Looking at company’s financial performance, on TTM basis, the company has reported revenue of Rs. 4,365 crore. Notably, these recent order wins which is likely to be executed over next 15 months provides strong revenue growth for the company in the coming fiscal. Also, the company is involved in consumer products (fans, luminaires, lighting and appliances) business which would further lighten the growth of Bajaj Electricals.
Moreover, with this development, the stock of Bajaj Electrical on Tuesday has surged almost 8 per cent to touch its 52-week high of Rs. 669.9. At 12.08 p.m. the stock was trading at Rs. 665 up by 7.4 per cent.