Punj Lloyd FY 08 performance - by mittar_b
Punj Lloyd Limited a leading firm among biggest players in the infrastructure domain is basically engaged in activities like engineering and construction services, project management services for energy industry and infrastructure sector projects. It was established in September 26th 1988, through the transfer of the engineering, turnkey and general construction divisions of the former Punj Sons Pvt Ltd. Company is also engaged in providing operation and maintenance services to North Karnataka Expressway Limited for its Belgaun Maharastra Road Project. The Company provides asset maintenance and preservation services to Daewoo Motors India Limited for their Surajpur plant. Company has bagged an export award for the year 2004-2005 from the Projects Exports Promotion Council of India. Its operations are spread across the Middle East, the Caspian, the Asia Pacific, Africa and South Asia.
Some of the prestigious clients of the company includes:
SABIC UK Petrochemicals
Saudi Kayan Petrochemical
Singapore Land Transport Authority (LTA)
Oman Gas Company
Qatar Petroleum
Oil and Natural Gas Corporation Ltd
Gas Authority of India Ltd
Delhi Metro
Indian Oil Corporation
National Highways Authority of India etc;
Recently Punj Lloyd Group has acquired a 74 per cent stake in UK based “Technodyne International Limited” which is a specialist engineering, design and consultancy company. This will enable the Group to provide end-to-end solutions for complete delivery of complex cryogenic, high pressure LNG, LPG, ethylene, ammonia and other similar storage tanks. Punj Lloyd, has been the only company to be involved in all three LNG terminals - Dahej, Dabhol and Hazira in India. The company has also completed the cryogenic storage tank package at the Reliance Jamnagar refinery.
Some of its wholly owned subsidiaries include:
- Spectra Infrastructure Limited
- Atna Investments Limited
- Spectra Punjab Limited
- PLN Construction Limited
- Punj Lloyd International Limited
This engineering & construction firm posted an excellent figures at the end of fourth quarter.Company witnessed a phenomenal hike of 459% in its standalone net profit to Rs 129.71 crore for the quarter ended March, 2008 as against Rs 23.18 crore during the corresponding period last year i.e quarter ended March ,2007. Net sales of the company during the quarter surged by 87.83% to Rs 1499.4 crore when compared with Rs 798.2 crore during the corresponding period last year while total income during the Jan-March,2008 quarter soared 83.89% to Rs 1506.57 crore from Rs 819.30 during the prior year period. Company reported an earnings of Rs 4.28 per share during the quarter, registering a growth of 4.81 times over prior year period. However Expenditure of the company during the quarter climbed from Rs 726.39 crore to Rs 1257.35 crores.
As far as yearly results are concerned, company reported a substantial rise of 259.54 % in its net profit to Rs 221.44 crore for the year ended March 2008 as against Rs 61.59 crore for the year ended March, 2007. Net sales of the company during the financial year 2007-08 shot up by 100% to Rs 4488.57 crore as against Rs 2238.85 crore during the fiscal 2006-07 while total income of the company witnessed a hike of 97% to Rs 4541.76 crore when compared with Rs 2305.48 crore during the last fiscal. However On consolidated basis Company shows a healthy growth of 82% in its net profit to Rs 358.42 crore for the year ended March 2008 as against Rs 196.93 crore during the year ended March 31,2007. Profits of the company during the year grown impressively as a result given the huge order backlogto the company, this is expected to continue in the next few years. As on May 30, 2008, Punj Lloyd Group has an order backlog of Rs 195.96 billion. In terms of geographical contribution, the group`s current order backlog comprises of 30% from South Asia, 4% from Caspian, 18% from Middle East, 43% from South East Asia & Asia Pacific and 5% from rest of the world. After these phenomenal results board of directors has recommended a dividend of 20% for the financial year 2008.