The company had orders worth Rs 150 crore at the beginning of the year. As on April, the order book position stood at Rs 135.8 crore (Rs 41.5 crore as on April 1998).

In the first quarter of 1999, sales have almost doubled to Rs 6.4 crore compared to Rs 3.06 crore in the previous corresponding period. Even more impressive is the fact that PBT jumped to Rs 5.6 crore (Rs 1.7 crore). Despite substantially higher provision of tax (due to higher PBT as the company hardly has any tax cover) at Rs 2 crore (Rs 0.6 crore in the previous year), net profit was Rs 3.6 crore (Rs 1.1 crore in 1997-98).

With such healthy order book position, coupled with the fact the company has bagged two orders from BHEL it is a foregone conlcusion that the year 1999 will be a good year for the company. The order is for 36 MW power plant from Manipur State Power DevelopementCorporation. The project will be commissioned by June 1999 and hence the major portion of the profit will be reflected in the second quarter. The bigger order is for a 128 MW power plant for the Kerala state electricity board. The project is to be commissioned by December 1999 and will be reflected in the books of the company in the last quarter. The share of the company is Rs 55 crore.

The company is also O&M contractor for DG sets (52 MW) for Gujarat Ambuja Cements unit at Vadinar in Gujarat. The operations and maintenance is done by its 100 per cent subsidiary.

The last quarter is the best quarter for the company. With major order (accounting for almost 26 per cent of the income from operations in 1998) to be executed by year end, thus last quarter of 199 will be the best ever for the company. Currently, the scrip is underpriced at the current level of Rs 222.