Punj Lloyd in the limelight

Punj Lloyd rose 2.5% to Rs.23.70 and continues to remain around the same intra day high levels. Its 52-week high is at Rs.28.30.

The stock price is buoyant as it announced today mid-morning that its subsidiary, Dayim Punj Lloyd Construction Contracting Company, has been awarded an engineering, procurement, construction (EPC) contract. This is known as ‘Clean Fuels Interfacing Facilities Project' and based in Saudi Arabia, on a lump sum basis, worth Rs.312 crore. The order is from Yanbu Aramco Sinopec Refining Company (YASREF).

The company has said that the objective of the project is to interface YASREF with the Aramco Yanbu Refinery to supply low sulphur clean transportation fuel - diesel and gasoline - for domestic distribution.

The pipeline system will also contain provision to transport YASREF refined products to the western regional pipeline hub.

Orders have never been too much of a problem for company but getting this translated into a positive bottomline seems like an impossible task.

Post this order, the group’s order backlog, which is unexecuted orders at end of 31st Dec 2016 +new orders post this date, stands at Rs.19,929 crore.

The company has ended Q3FY17 with a net loss of Rs.232 crore, on a 1% drop in net sales at Rs.993 crore.