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Shriram EPC wins order worth Rs. 166.16 crores and Rs. 59.55 crores

Posted On: 2018-12-04 11:40:14

Shriram EPC Limited (SEPC), one of India's leading high-end engineering services company providing EPC & Turnkey solutions, has announced that it has been awarded two separate orders amounting to Rs. 166.16 crore and Rs. 59. 55 crores from the Jharkhand Urban Infrastructure Development Co. Ltd.

The scope of work of this order involves augmentation and strengthening of Dhanbad Water Supply Scheme - Phase 1 under Dhanbad Municipal Corporation and Water supply system for Khunti Nagar Panchayat(Jharkhand).

With the addition of these orders, the consolidated order book grows to a total of around Rs. 3, 500 crores.

Commenting on the order, Mr. T. Shivaraman, Managing Director & CEO of Shriram EPC Limited, said: "We are pleased to report continued momentum in order wins. The steady accretion in order backlog reaffirms the robust demand for high quality engineering services across all our business verticals. While we are working towards scaling each vertical further the emphasis remains on growth that is profitable and of good quality. Implementation of our overseas orders in Oman and Tanzania is progressing well. Work on our JV project in Basra has restarted along with our local Iraqi partner.

We successfully turned around the business in FY18 and have established a platform on which to build further. We are confident that our strong execution capabilities combined with operations that are diversified across verticals, geographies and customer profiles will serve to elevate the growth trajectory in the quarters and years ahead."

Shares of SHRIRAM EPC LTD. was last trading in BSE at Rs.11.69 as compared to the previous close of Rs. 11.64. The total number of shares traded during the day was 2325 in over 21 trades.

The stock hit an intraday high of Rs. 11.77 and intraday low of 11.25. The net turnover during the day was Rs. 27212.

Source: Equity Bulls

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