BGR Energy: FairWealth Securities’ Research Report

BGR Energy‘s total order backlog as on 31st march 2011, stood at Rs 7971cr, however the fresh order intake during FY11 remained subdued by 22% at Rs 3000cr. Commenting on the muted order intake in FY11, BGR Energy had bid for projects worth Rs. 18000cr, which was not materialized in the year gone. We expect the entire order inflow in FY12 to reach at Rs. 13000cr which includes BoP, BTG and EPC contracts during the current financial year. BGR Energy has already placed its offering for projects worth Rs 18,000cr in FY2011, constituting Rajasthan tender of Rs 6,100cr, NTPC order of Rs 6,000cr, Ennore order of Rs 3,000cr and Rs 3,000cr order in Surat. These orders are expected to be finalized in Q2FY12. Apart from these orders, BGR Energy has identified projects worth Rs 40,000cr which it intends to compete during the current financial year