Four orders have been secured for transmission lines in Tamil Nadu and West Bengal, joint managing director Anant Bajaj said.
We are looking at 15% growth levels for FY15
Anant Bajaj
Joint MD
Bajaj Electricals
Bajaj Electricals' engineering and project business unit bagged four new orders aggregating to Rs 602 crore. In an interview to CNBC-TV18, joint managing director Anant Bajaj said billing for the new order wins could start over next 18 months.
Four orders have been secured for transmission lines in Tamil Nadu and West Bengal from Power Grid Corporation of India (PGCIL) and West Bengal State Electricity Transmission Company respectively; and rural electrification work at Bihar from North Bihar Power Distribution Company and South Bihar Power Distribution Company respectively, he said.
The company's current order book stands at Rs 2,200 crore.
Below is the verbatim transcript of Anant Bajaj's interview with CNBC-TV18's Latha Venkatesh and Ekta Batra
Latha: Just take us through the order book size itself at this point in time, when did you win this Rs 600 crore, what does it take your overall order book to?
A: We have got Rs 602 crore of new order book in which two of them have to do with transmission lines and two of them have to do with RE which is rural electrification. We got one order of Rs 26.05 crore from Power Grid Corporation of India Limited (PGCIL) and the second one is order from West Bengal which is for Rs 40 crore; these both are in transmission lines.
We have two RE projects from Bihar, one is from the North Bihar Power Distribution Company and the other one is from South Bihar Power Distribution Company. One is Rs 314 crore and the other one is Rs 220 crore. With that our order book goes in the vicinity of around Rs 2200 crore. It is a good order size to have.
These are projects which are resultant out of the various tenders we take part. So, it is always difficult to say which one can convert into an order from tender stage. Roughly at this stage for RE projects between 10-12 percent of tenders are converting in case of power distribution and RE jobs. In the case of transmission line it is little closer to 8 to maybe at best 10 percent and they are a little longer timelines to convert.
Bajaj Electric stock price
On September 01, 2014, at 14:12 hrs Bajaj Electricals was quoting at Rs 293.95, up Rs 9.80, or 3.45 percent. The 52-week high of the share was Rs 384.80 and the 52-week low was Rs 151.70.
The latest book value of the company is Rs 70.58 per share. At current value, the price-to-book value of the company was 4.16.
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