Cords Cable Wins Bulk Orders in Hydrocarbon Sector
Cords Cable Industries Ltd. is one of the largest manufactures of Instrumentation, Control and Specialty cables with an estimated current capacity of 65,000 cable Km per annum. Cords Cable has been manufacturing Instrumentation, Signaling, Specialty cables, Control and LV Power cables as per Indian and International Standards for more than 30 years. Cords is listed on BSE and NSE stock exchanges.
As per recent press releases of the company it has won bulk orders from Hydrocarbon Sector amounting to a total of INR 87.2 Cr.
Cords’ Recent Bulk Hydrocarbon Sector Orders
According to the press release of the company dated on 19th June 2018, Cords Cable Industries Ltd. has bagged a contract worth Rs. 47.20 Cr. for supply of Signal Cables including Fire Resistant – Gas Detector Signal Cables, Alarm Cables and Control Cables. The order is for a polymer addition project in hydrocarbon sector to be supplied to the state of Punjab. The supply of cables is to be completed before February 2019.
The company had also won three bulk orders, accounting for Rs. 40 Cr. for designing, engineering and supplying of Fire Resistant Signal cables, Conventional Type instrumentation and Power Cables to be supplied to the states of Haryana, Assam and Gujarat. The execution period for these three contracts is of five months as per the press release of the company dated on 29th May 2018.
Hydrocarbons – A Growth Sector for Cords
As per the company’s reports, the total order book as of 30th June 2018 stood at Rs. 146 Cr. The hydrocarbon sector holds the major portion of the order book accounting for 67 %, or approximately Rs. 97.82 Cr.
For the FY 16 the Hydrocarbon sector had 9% contribution to revenue of the company. In FY 17 the Hydrocarbon sector contribution expanded to 18% of revenue of Cords and in FY 18 Hydrocarbon sector’s contribution to company revenue greatly expanded to 36%. In terms of percentage of revenue Cords Cable has witnessed double growth YoY in Hydrocarbon Sector between FY 16 FY 18. In terms of numbers this corresponds to Hydrocarbon Sector contribution of INR 25.9 Cr. in FY 16, 58.2 Cr. in FY 17 and 131.5 Cr. in FY 18