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ABG Shipyard has declared its results for the qtr ending mar 2008. The company’s net profit was at Rs 46 crore versus Rs 32.99 crore.The company’s total income for the quarter was Rs 278.65 crore (Rs 195.97 crore).For the financial year 2007-2008, the company’s net profit stood at Rs 160.68 crore and income at Rs 974.24 crore.
Aban Offshore Ltd has informed the market that a Contract has been signed with Exxon Neftegas Ltd for the deployment of the Jack-up rig Murmanskaya Offshore Russia for a 2 well programme.The estimated revenues from the Contract (with an estimated duration of approx 160 days) is approx USD 34 Million. The deployment is to commence in direct continuation of its present contract which is expected in June 2008.
Larsen & Toubro announced The hindu yesterday that there hopes to begin work on the integrated shipbuilding yard and port at Ennore, north of Chennai is nearing and they are positive on the way how the activities are going, Its proposal for this project got the Tamil Nadu Government’s approval in January 2008, and the company is now discussing the agreement it will sign with the Government for the project.They are looking for a 1200 acre of land and when its ready it will take around 24 month to complete .
GE Shipping has good raise in the stock price today after it informed the market that they have received two contracts to sell two of its its double hull Medium Range (MR) product tankers ‘Jag Panna’ (37,145 dwt) & ‘Jag Payal’ (37,159 dwt). The vessels will be delivered to the buyers during Q1 FY 2010.This is good news for the company that will help in increase fo revenue.
Great Eastern Shipping Company net profit rose 77.01% to Rs 293.57 crore in Qtr Dec 2007 compared to Rs 165.85 crore in Dec QOQ of 2006. Sales rose 23.14% to Rs 604.29 crore in Qtr Dec 2007 compared to Rs 490.75 crore in Dec QOQ of 2006.
Bharati Shipyard Net profit rose 51.39% to Rs 26.69 crore in December quarter of 2007 as compared to Rs 17.63 crore in the QOQ of December 2006. Sales rose 68.71% to Rs 176.22 crore in December quarter of 2007 as compared to Rs 104.45 crore in the QOQ of December 2006.
Aban Offshore declares Net profit which rose 129.77% to Rs 47.77 crore in the QTR End Dec 2007 as against Rs 20.79 crore of QTR End Dec 2006. Sales rose 34.02% to Rs 169.07 crore in the QTR End Dec 2007 as against Rs 126.15 crore of QTR End Dec 2006.
ABG Shipyard in Q3 FY08 has recorded net profit at Rs 47 cr versus Rs 29.3 cr on YoY basis. During the same quarter, its net sales were up at Rs 274 cr vs Rs 177.58 Cr, YoY.The Profit is up by 60 percent or so due to increase in sales .
ABG Shipyard bags Mega repeat Orders of over Rs 1000 Crores from Cyprus they have placed repeat order for 2 vessels amounting to USD 34.20 million. Its total Order Book Position to Rs 8277 Crores
ABG Shipyard Ltd has informed the market that the Company has received payment of
Rs 6.48 crores from the Ministry of Shipping, Government of India towards ship building
subsidy for Yard No. 210.Stock is down today by 31 rs.
Bharati Shipyard Ltd has informed the market that the Shipping Corporation of India Ltd board has accorded approval for acquisition of four nos. Anchor Handling Tugs cum Supply Vessels from Bharati Shipyard Ltd. The total price of each vessel is US$ 22.32 million totaling to US$ 89.28 million (approx. Rs 351 crores). The contract signing ceremony will be held on October 15, 2007.when it says acquiring then it means the product is already ready so may be the revenue will sink in this Quarter result itself , we will watch it anyway the stock as gone to a high of 610 or so and now trading at 570.
Larsen & Toubro Ltd (L&T) has won a repeat order valued at over US$ 70 million for construction of two ship from RollDock BV of The Netherlands, (erstwhile Zadeko Shipmanagement CV).The stock was yup by 65 to 75 rs on early trade , its just up by 20 rs or so while closing.
Aban Offshore Ltd has received order from a E&P Company in South Asia for deployment of the new built jack up Rig “Deep Driller 4″, .
>Timeline is 12 months , 6 months for each option.
>Estimated revenues for the firm period of deployment would be approximately USD 80 Million, including mobilization and demobilization.
>The Rig is likely to commence operations by 4th quarter of year 2007.
So the 4th quater revenue will reflect this order revenue.
Bharati Shipyard has got a Repeat order of US$ 44.03 million from UP Offshore (BAHAMAS) Ltd for design, construction and supply of two Platform Supply Vessels.
The total contract value of this order is US$ 44.03 million which is worth approx Rs 177 crores.
ABG Shipyard Ltd has secured a big order for Construction of 12 vessels of approximately 32,000 DWT, for a total price of US $ 360 million (Rs 1460 crores) from Precious Shipping Public Co. Ltd., Thailand,the book order was like 4000 crore or something before winning this order , the stock has gone up almost by 50 rs today .