Press release from Business Wire India
Source: UB Engineering
Friday, August 13, 2010 04:59 PM IST (11:29 AM GMT)
Editors: General; Business
UB Engineering Registers Impressive Results
Pune, Maharashtra, India, Friday, August 13, 2010 — (Business Wire India) — The UB Engineering Limited (UBEL),39th Annual General Meeting (AGM) was held on 12 August 2010 at Pune.
UB Engineering, a part of the UB Group lead by Dr. Vijay Mallya, has registered healthy results for financial year ended 31st March 2010 with 16% increase in turnover, PBT by 41% and PAT by 45% as compared to the previous year. However, the company has not declared a dividend this year with a view to conserve resources for working capital and to support investments in new business initiatives.
Speaking during the occasion, Mr. SD Lalla, Chairman, mentioned that UB Engineering has tremendous growth potential in the coming years, with an order book aggregating to Rs. 848.20 Crores. He said that the increased focus on securing profitable jobs, timely completion, controlling expenditure, optimizing resources and reduced dependence on joint venture jobs have reflected in the healthy bottomline.
As a part of its diversification strategy, UBEL has embarked into the field of Heavy Structural Fabrication shop located at Durg in Chattisgarh. UBEL is also envisaging entering in to infrastructure business. UB Infrastructure, the 100% subsidiary of UBEL is in the development and execution of infrastructure projects in India.
Some of the prestigious orders bagged by the company during current financial year are – SAIL, Rourkela Steel Plant for Rs.165 crores; Adani Power for Rs.135 crores; BHEL for Rs. 39 Crores and Electrosteel Steels Ltd for 53.36 Crores. With these orders, company’s order book has crossed Rs.1121 Crores. mark as at the end of 30th June 2010. UBEL’s share is currently traded at Rs. 223 at BSE and NSE.
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Supriya Natolikar, Sr. Manager-HR, UB Engineering, +91 9545454083, email@example.com
Raju Nikam, Maharashtra Media Services & PR. Pvt. Ltd, +91 98225 27727 / +91 9923408400, firstname.lastname@example.org
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