BGR Energy sizzles after order win

BGR Energy Systems surged 11.71% to Rs 39.10 after the company said it secured a contract worth Rs 224.28 crore for erecting a substation in Tamil Nadu.

In an exchange filing made during market hours today, the company informed that its electrical projects division has secured an order from Tamil Nadu Transmission Corporation (TANTRANSCO) for design, detailed engineering, fabrication, manufacture, supply, erection, testing and commissioning of 400/230-110 kV AIS substation with associated auto transformers, bus reactors, switchgear, accessories, control & relay panels, substation automation system, control room, and complete civil works in Tamil Nadu on a total turnkey contract basis.

The total value of the contract is Rs 224.28 crore and the contract completion period is 18 months.

On a consolidated basis, BGR Energy Systems reported a net loss of Rs 18.09 crore in Q2 September 2019 over a net profit of Rs 5.45 crore in Q2 September 2018. Net sales slumped 23.4% to Rs 609.72 crore in Q2 September 2019 over Q2 September 2018.

BGR Energy Systems operates in the utility industry, offering services ranging from product manufacturing to project execution. The company operates in two segments: capital goods and construction and engineering procurement construction contracts.

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