Well Irrigated
Jayashree / 28 Sep 2009
BSE: 531120
CMP : 495.35
Volume: 70736
Operating as a construction contractor, Patel Engineering focuses on the hydropower and irrigation systems’ segments. The company has a decent order book backlog of over Rs 7,300 crore that is over three times its FY09 earnings. And it has also been able to grow its financials and margins over the years at a decent rate. However, the rising interest cost is a point of worry for the company. As per an institutional report, the company is a good bet with a long-term perspective considering the company’s fundamentals and infrastructure story in India. Thus, looking at this, one can buy the scrip in a staggered manner.
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