Research And Views Archives

Engineering: A year full of challenges
(Sector Info)

Jun 11, 2009

India's engineering and capital goods companies have dealt with various obstacles over the past year four quarters of FY09. In the early part of the year, concerns regarding rising commodity prices hit companies' directly and indirectly. Directly, as their margins were impacted (higher input costs). Indirectly, as their clients lowered or delayed their investments on account of rising input costs.

Capital goods: Preferring volumes or margins?
(Sector Info)

Mar 31, 2009

The launch of Tata Nano has been well received by all. The vehicle has created a big hype and as a result of such, bookings are expected to fly off the charts. However, a few days back a leading business daily reported that dealers of Tata Motors' small vehicle have been offered margins of only 2% to 2.5% as compared to the typical dealer margins of 3% to 3.5% on the value of the bill.

Capital goods: December quarter review
(Sector Info)

Feb 12, 2009

The third quarter of FY09 did not bring about any stark difference in the performance of Indian engineering companies when compared to their performance in the previous quarter (2QFY09). In 3QFY09, while revenue growth remained good, profits were under pressure for most of the companies.

Capital goods: September quarter review
(Sector Info)

Nov 7, 2008

The BSE Capital Goods index has been at the receiving end the year till date. The index is down by nearly 64% from its 52-week high as compared to the BSE Sensex, which is down by 54%. In this article, let us have a look at how few of the sector companies have performed during the quarter ended September 2008 on an aggregate basis

Capital goods: Raking in big orders
(Sector Info)

Sep 25, 2008

In a growing economy like India, companies across sectors are bound to invest for their future growth. The fact that India lacks basic infrastructure still persists. As such, companies from across the sectors are willing to exploit the opportunities based on the same.

L&T vs Punj Lloyd: A comparison
(Sector Info)

Jun 27, 2008

There is no doubt that Larsen & Toubro (L&T) is the emperor in the offshore, process and infrastructure E&C segments. Punj Lloyd (PUNL) on the other hand, is one of the largest and experienced players in the pipeline and storage tanks terminal business.

Punj Lloyd : A brief overview (Part II)
(Sector Info)

Jul 11, 2007

In our previous article, we covered the various segments in which Punj Lloyd operates. In this article we will analyse the financials of the company and understand the reasons behind the past underperformance as well as the future prospects of the company.

Punj Lloyd: A brief overview
(Sector Info)

Jul 6, 2007

Punj Lloyd Ltd. (PLL) is one of the largest engineering construction companies in India providing integrated design, engineering, procurement, construction (EPC) and project management services for energy industry and infrastructure projects. To augment its engineering and project management skills and transform itself into a complete EPC player, the company recently acquired Singapore based SembCorp and its UK based subsidiary Simon Carves.