The Hindu Business Line : Patels Airtemp’s order book swells

Patels Airtemp India, an engineering products counter, has turned active of late on hopes of substantial order book growth. According to market circles, the company is about to get a Rs 25-crore order for air-cooled heat exchangers from Nuclear Power Corporation.

A senior company official in Ahmedabad, when contacted by Business Line over phone, declined to comment on the NPC order. However, he said that the current order book position of the company stood at Rs 45 crore.

In July, the company informed BSE that it secured orders worth Rs 18.86 crore from Ingersoll-Rand (India) Ltd. Patels Airtemp also obtained orders worth Rs 10.86 crore from Dreesser Rand (India) Ltd.

The official explained that the Ingersoll-Rand order was for heat exchangers, while Dreeseser Rand order was for air-cooled heat exchangers. The company also produces air filters, pressure vessels and thermal reactors.

Steady show

The company’s sales, reserves and net profit have been steadily rising in the last four years since the business restructuring. The Rs 5-crore paid-up capital company has over Rs 7 crore reserves and the EPS for 2006-07 stood at Rs 5. In relatively dull Q1, according to the management, it has reported an EPS of Rs 1.28. Industry analysts feel the company’s sales growth trend suggests a 35 per cent rate this fiscal and 50 per cent in the next fiscal.

On Monday, the stock clocked a gain of around 3 per cent at its closing price of Rs 48.30 with a volume of 86,648 shares on the BSE. In the last week, the stock has gained 13 per cent and in the last one month it has improved by over 30 per cent. The BSE data suggests its two-week average daily volume is 1.68 lakh shares. — Jayanta Mallick

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