BGR Energy signing a pact with an Italian firm

BGR Energy Systems soared 5.92% to Rs 164.50 at 12:48 IST on BSE, on signing a pact with an Italian firm for condensate polishing plants in India
The stock hit a high of Rs 168.45 and a low of Rs 157.45 so far during the day. The stock hit a 52-week high of Rs 988 on 4 January 2008 and a 52-week low of Rs 115 on 2 December 2008.
The company's current equity is Rs 72 crore. Face value per share is Rs 10.
The current price of Rs 164.50 discounts the company's Q2 September 2008 annualized EPS of Rs 13.16, by a PE multiple of 12.50.
BGR Energy Systems (BGR) has forged a technical collaboration and license agreement with Italy-based Termomeccania Ecologia (TME) for condensate polishing plants in India. The technical & collaboration agreement between BGR and TME is on exclusive basis for Indian market and non-exclusive for overseas market.
TME will transfer and impart technical know-how for condensate polishing plants to BGR Energy. It will also render additional technical and commercial assistance to BGR during initial phases of the collaboration The agreement is for five years with a scope to extend it further.
Last week, BGR Energy Systems had secured credit lines worth Rs 2105 crore to fund its working capital requirements for a power project at Tamil Nadu.
The company had in August 2008 bagged an order worth Rs 39.60 crore for supply of air fin coolers to Essar group's refinery expansion project at Jamnagar in Gujarat.
BGR Energy Systems' net profit rose 47.8% to Rs 23.69 crore on 36.5% increase in net sales to Rs 424.57 crore in Q2 September 2008 over Q2 September 2007.
BGR Energy Systems is a supplier of systems and equipment for the power, oil and gas, petrochemical and process industries.