Punj Lloyd Q1FY10 net sales stood at Rs 2,955.1 crore

Atul Punj, Chairman of Punj Lloyd said that EBIDTA stood up 41% (YoY) to Rs 309 crore and EBIDTA margin for the quarter is at 10%. Order back log stands at Rs 28,000 crore. Company has long term debt of Rs 1000 crore. Order book of Rs 28,000 crore has average build out of 26 months. There are no issues in order backlog.

He further said that the company is expecting surge in business in India. Focus from FY10 onwards is to improve the bottomline. He said that the company would prefer annuity based NHAI projects as a contractor. He feels that the land acquisition is a significant issue in highway projects.

About SABIC case, he said that SABIC case is undergoing legal proceedings and the company has made full provision in SABIC case. The company is not looking at any acquisitions right now, he added.

Punj Lloyd Q1FY10 consolidated (YoY) net sales stood at Rs 2,955.1 crore Vs Rs 2,648.8 crore and net profit stood at Rs 127.2 crore Vs Rs 111.9 crore. EBIDTA stood up 40% to Rs 309 crore Vs Rs 221 crore. The company bagged new orders worth Rs 9,946 crore. Current order backlog of the company stands at Rs 27,889 crore.

The company’s long term debt stands at Rs 1000 crore. It is looking to raise $ 125 million via QIP. Encouraging order traction is seen for Oil & Gas sector.