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Our Bureau

Kolkata, April 13

Stone India has received an order for refurbishment and upgradation of 1,115 wagons from the Union Ministry of Defence. The order is valued at about Rs 14 crore, to be executed over the next eight months. Stone India is the first privately owned company selected to execute this order. So long this job was being undertaken by Indian Railways. This, incidentally, happens to be the single largest order since its inception, according to a company release.

The company invested about Rs 1.2 crore last year to establish its mobile rigging facilities equipped with latest machineries for onsite project work. It expects to grow substantially in this area in the near future. This is in line with its long-term objective of achieving 20 per cent of enhanced turnover from the projects and services business. The company ended 2006-07 with a turnover and order book exceeding Rs 8.2 crore and about Rs 9.25 crore, respectively, showing a growth of 34 per cent and 30 per cent over the previous year.

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