Industrial equipment solutions provider receives new orders worth Rs 1,07,89,040 from Suzlon Group

Cryogenic OGS Limited, a provider of industrial equipment solutions, has secured a significant Letter of Intent (LOI) from Suzlon Western India Projects Limited, a part of the Suzlon Group. This LOI is for a total amount of Rs 1,07,89,040 (One Crore Seven Lakhs Eighty Nine Thousand Forty Rupees). The total value represents two separate, domestic orders for the manufacture and supply of Tower and Nacelle Jigs. Nacelle and Tower Jigs are critical tooling used in the production and assembly of wind turbine components, indicating that Cryogenic OGS will be supporting Suzlon's manufacturing process for wind energy projects.

The two orders from Suzlon Western India Projects Limited, both domestic and for the supply of products, are valued at Rs 39,79,840 and Rs 68,09,200, respectively, summing up to the total LOI value. Both contracts stipulate the delivery of the manufactured Tower and Nacelle Jigs within a quick turnaround time of 4 to 6 weeks. This rapid execution schedule suggests the immediate need for this specialised tooling in Suzlon's production line, highlighting Cryogenic OGS's role in the domestic renewable energy supply chain.

Cryogenic OGS Ltd (COGSL), an ISO-certified manufacturer incorporated in 1997, specialises in providing equipment and system solutions for metering, filtering, pressure reduction, dosing and blending across the oil, gas, chemical and allied fluid industries. The company's extensive product profile includes chemical dosing skids, various types of strainers and eliminators, gas and liquid metering skids, pressure reduction skids, filtration skids, prover tanks, additive injection panels and batch blending vessels. COGSL operates a manufacturing unit spanning over 8300 square meters in Vadodara, Gujarat.

The company has a market cap of Rs 295 crore and the stock is up over 130 per cent from its 52-week low of Rs 89.30 per share. The shares of the company have an ROE of 24 per cent and an ROCE of 32 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.