The Gulf Reconstruction Play: How NRIs Can Track Indian EPC Firms Winning Overseas Contracts

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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence NRI Investing · Gulf EPC Tracker The Gulf Reconstruction Play: How NRIs Can Track Indian EPC Firms Winning Overseas Contracts A record ₹7.79 lakh crore order book at L&T with about 37 percent in the Middle East, a UAE gas pipeline award of over ₹4,000 crore at Kalpataru, a Kuwait desalination win at Wabag and a US$1 billion Gulf pipeline in sight at Engineers India. The evidence is public, and an NRI can follow it from the United States. From the United States, the Middle East usually arrives as a headline about oil, shipping lanes and geopolitics. Look one layer below it and a more practical story appears: power lines, gas pipelines, desalination plants and storage terminals that have to be built, repaired and made more resilient. Indian engineering companies already work in those markets. For a US-based NRI who follows Indian equities, the useful question is which listed firms are turn...
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Suzlon Energy Ltd
Suzlon Energy Ltd was asked to be accumulated around Rs.17.50--18, after studying its improving fundamentals. Today it seems the scrip has given signs of a break out.
Off late the company has regained some of its faded glory in the international arena.
Suzlon Energy is a leading manufacturer and supplier of wind turbines. Having acquired German wind turbine manufacturer REpower's business in the recent past, the company now has a strong presence in the international market, especially in Europe. However, the acquisition has also significantly pushed up debt on its books.
If Suzlon has any thing to cheer about today, it is probably its order book position. Suzlon Energy's order backlog as at March 2012 stood at a healthy Rs.41,500 crore.
This is nearly double its net revenue of over Rs.21,000 crore for FY12. The company's top line of over Rs.21,000 crore for the year 2012 is an increase of 18% over the previous year. It has also reported a healthy increase in its operating profits for the year as compared to the previous two years resulting in a significant improvement in its operating margins from 2% to over 5%. 
Given the healthy order backlog, the company has guided for a revenue growth of 33% and an operating margin of about 6% for FY13. 
Suzlon Ltd's scrip has lost around 200% of its value in the past one year and it currently trades at around Rs.18.10 against over Rs.55 until a year ago. The worst is probably over for the company and the scrip has a limited downside, as it trades near its all time low. I therefore,  see no reason why the scrip should not trade above Rs.30, in the short term. 

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