Mumbai : Sanghvi Forging & Engineering Ltd (SFEL) [BSE Code: 533411], one of the top engineering and forging companies in India announced that it has bagged orders worth Rs. 8 Crs.
The repeat and increased new orders for Sanghvi’s new plant is a positive sign for the expected growth of the company.
At present the company has 10 approvals from Oil & Gas, Power and Ship Building sectors for the new plant.
The orders comprise a mix of above sectors, Rs. 5cr orders are for the new Heavy Forging plant and the balance for the existing plant.
The company’s order book position as of 30st Sept 2013 is Rs. 20crs.
Commenting on the order Mr. Jayanti Sanghvi, Managing Director, Sanghvi Forging & Engineering Ltd said, “The increased spate of orders for the new plant is and encouraging sign. Also the bulk of the present orders are from Indian companies and is a positive sign for us going forward. The pain of incubation is over for us and repeat orders for the new plant are good signs for the future of the company.”
Source : Lokesh Shastri