Salasar Techno Engineering receives orders worth Rs 1,182 cr in FY22

Salasar Techno Engineering on Wednesday said it received orders worth Rs 1,182 crore in 2021-22, posting a year-on-year rise of about 20 per cent. The company said its overall order book in 2020-21 was at Rs 988 crore.

Out of Rs 1,182 crore, EPC (engineering procurement and construction) orders were of Rs 938 crore, orders of heavy steel structure division were worth Rs 200 crore and export orders constituted Rs 44 crore.

In addition, there were monthly orders worth Rs 35-40 crore from telecom and other structures, the company said, adding it has also constructed four towers at the Goa airport.

The company has reported a net profit of 31.5 crore for 2021-22 as against Rs 29.8 crore in previous year, a rise of about 6 per cent. Its turnover was higher at Rs 718.9 crore from Rs 596.6 crore in preceding fiscal year.

"FY22 remained a challenging year in view of the abnormal and unprecedented volatility in the commodity prices both for steel and zinc. Despite headwinds, we were able to achieve a total sale of Rs 718 crore against Rs 597 crore in FY21. In FY22, EBIDTA increased from Rs 57 crore to Rs 69 crore," Managing Director Shashank Agarwal said.

Agarwal recently said his company will invest Rs 100 crore to expand its business. While Rs 50 crore will be invested to set up a fabrication unit at Bhilai, another Rs 50 crore is to be utilized in putting up a galvanizing plant.

New Delhi-based Salasar Techno Engineering carries out engineering, designing, procurement, fabrication, and galvanization work for telecom players.