Bharati Shipyard (BHSL) reported revenues of Rs3,231 million, growth of 13.6% on a y-o-y basis. However, the revenues are flat sequentially; this was in-line with our expectations. The company’s order book stands at Rs2,490 crore at the end of FY10 which translates to order book/sales of 1.4xFY11. One of BHSL’s order, received from a German company [...]
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