- 21 Jul 2022
- ICICIdirect Research
Ador Welding received a LOA from ONGCADORWELD - 852 Change: 2.05 (0.24 %)
News: Ador Welding has received a Letter of Award (LOA) of Rs145 cores from ONGC for design, engineering, supply, erection & commissioning of demountable flare stack (The demountable flare system features a derrick structure with the one or multiple flare risers, mounted in such a way as to permit the lowering of the flare burner to grade for service without the need for an expensive heavy-duty crane) on lump sum turnkey (LSTK) basis ONGC’s Uran plant. Order is to be executed within 30 months from commencement of project.
Views: Ador Welding is quite upbeat on flares & process equipment (FPED) segment as they have targeted Rs 50 crore of revenue for FY23E vs. Rs 27 crore in FY22. With this large order win in FPED segment company may exceed their revenue target in FY23. Now in FPED segment Ador has ~Rs 176 crore of orders in hand including this large order. Ador is also trying to enhance its flare portfolio by identifying new technology partners.