The management said the CP business has delivered a strong growth in this quarter despite continuing supply challenges and increase in commodity prices and has delivered its highest ever quarterly EBIT. The engineering, procurement and construction (EPC) segment has reduced its loss, while continuing to focus on execution and working capital, it said.
As on January 1, 2021, the order book position of the company stood at Rs 1,220 crore, comprising of Rs 388 crore, for transmission line towers, Rs 501 crore for power distribution, and Rs 331 crore for illumination projects, the company said.
has a leading position in the consumer products business, supported by strong brand image, product development capabilities and a wide distribution network. ICRA has a stable outlook on expectation that the company would be able to sustain a healthy revenue growth in the consumer products segment in the near term with profitability level in line with the company’s expectation. The stable outlook also reflects the company’s stated strategy to selectively focus on the EPC segment to ensure the budgeted profitability, it said in recent rating rationale.
At 11:26 am, the stock was trading 13 per cent higher at Rs 871 on the BSE, as compared to 0.54 per cent rise in the S&P BSE Sensex. The trading volumes on the counter more-than-doubled with a combined 2.7 million equity shares changing hands on the NSE and BSE.