Hindustan Dorr Oliver (HDO) as anticipated, reported robust numbers for the quarter ending March 2008. HDO’s Q4 FY08 sales stood at Rs.1055.5 mn as against Rs.785.2 mn in corresponding quarter previous year, up by 34%.
Operating profits for Q4 FY08 at Rs 151.7 mn, up by 98% as against Rs.76.8 mn reported earlier. It reported an OPM of 14.4% for the quarter, the highest ever reported by the company.Interest expense for the quarter went up by 405% on account of higher working capital to support the growing sales and the capex that it is incurring at its facility at Vatwa.PAT of Rs.94.8 mn for the quarter as against Rs.67.5 mn in Q4 FY07, up by 40%.
HDO’s current order backlog is greater than Rs.6.0 bn. Furthermore, its order pipeline is also strong. In the near-term, HDO is well-placed for a large order from Uranium Corp of India. The company has recently bagged Rs.2.5bn contract from Vedanta Group.