Hindustan Steelworks Construction sitting on highest-ever order-book at over Rs 6,000 crore

Written by PTI | New Delhi | Updated: Oct 20 2014, 21:24pm hrs
HCFLState-owned Hindustan Steelworks Construction (HSCL) today said it has highest-ever order-book at over Rs 6,000 crore (Reuters)
State-owned Hindustan Steelworks Construction (HSCL) today said it has highest-ever order-book at over Rs 6,000 crore now, placing it in a good position for the next level of growth.

"With more than Rs 6,000 crore worth of order-book in steel as well as in a wide range of infrastructure sectors, spread all over the country... HSCL is destined for the next level of excellence in the coming years," the company said in a release.

The orders are from diverse areas, including opencast mining and port operations, etc. where HSCL diversified in the recent past.

The Kolkata-based company said it received fresh orders worth Rs 2,649 crore during the last fiscal, which is a growth of staggering 96.5 per cent over the previous fiscal.

HSCL had clocked Rs 1,410.21 crore revenue, up 10.33 per cent over 2012-13. Its operating profit was Rs 92.27 crore during last fiscal.

"The Company has been in a growth trend clocking CAGR of 19.02 per cent in turnover, 25.51 per cent in order booking and 14.62 per cent in operating profit since 2005-06 till 2013-14," it said in the release.

HSCL was established in 1964 as a construction firm under the Ministry of Steel. A financial restructuring package of the company is under consideration of the government.