Elecon Engineering secures letter of intent worth Rs 7 crore

Elecon Engineering Company has secured letter of intent worth Rs 7 crore from Manikgarh Cement Unit- II, a division of Century Textile & Industries. The order is for design, engineering, manufacturing and supply of various pipe conveyors.

Recently, the company bagged order worth Rs 25.50 crore from Tecpro System for engineering, manufacturing, supply, erection and commissioning of various equipments in CHP for 2x300MW Haldia TPP Project.

The company posted a rise of 1.40% in its net profit at Rs 23.89 crore for the quarter ended March 31, 2012 as compared to Rs 23.56 crore for the same quarter in the previous year. Total income increased by 26.23% at Rs 441.97 crore for quarter under review as compared Rs 350.12 crore for the quarter ended March 31, 2011.

Elecon Engineering Company (EECL) is a market leader in the domestic gears segment with around 25% market share in the domestic transmission equipment segment.