Surya Roshni bags order worth Rs 86 crore from Bharat Gas Resources Ltd
Surya Roshni Limited has bagged new order worth Rs 85.53 crore for the supply of API 5L grade 3LPE coated line pipes to Bharat Gas Resources Limited (BGRL) for BGRL/BPCL CGD projects.
The supply includes API SL grade coated line pipes 1,66,000 metres ranging of different sizes & specifications. The supply order is to be executed across the states of Orissa & Karnataka. This order is expected to be executed within the next 12 months.
Similarly, in the month of December, the company had received an order worth Rs 72.62 crore for the supply of API 5L grade 3LPE coated & bare pipes to Indian Oil Corporation Limited (IOCL) for gas pipeline projects in Bihar and Thiruvallur district of Tamil Nadu. This order will be executed with eight months.
Regarding its steel pipe & strips segment, the expansion for 3 LPE coated pipe unit is in full swing as per the schedule and shall be commissioned by March 2021. Presently, orders worth Rs 664 crore are in its pipeline from the oil & gas sector for 3LPE coated pipes.
Also, considering the demand for section pipes, it is adding a new capacity of 72,000 MTPA of section pipes (up to 300 x 300 mm) with direct forming technology (DFT) at Gwalior unit at a Capex of Rs 35 crore. The facility will be operationalised by Q2FY22, which would enable it to improve the value-added offerings of large diameter pipes.
During Wednesday’s morning session, the stock of Surya Roshni Ltd was trading up by 2.1 per cent at Rs 344.95 from its previous close of Rs 337.85 on BSE.