Corporate Feature     

Published: Feb 15, 2023
Updated: Feb 15, 2023

Salasar Techno Engineering

Riding huge Nepal, UP orders

Salasar Techno Engineering Ltd (BSE- and NSE-listed) has secured a letter of intent worth Rs 143 crore from the Nepal Electricity Authority, for work including procurement of material equipment, associated accessories and necessary installation services, including design, erection, testing and commissioning of 33/11 KV substations and 33 KV, 11 KV, 400 V lines and distribution system networks in Dang, Rukum East and Baitadi districts of Nepal.

The deal strengthens its existing order book and will be executed in the next 24 months over FY23, FY24 and FY25. Salasar Techno Engineering (STEL) rallied 4.12% to Rs 51.80 after the Nepal order.

STEL is a fast-growing steel structure manufacturer and EPC infrastructure company, providing services across telecom, energy and the railways.

Shashank Agarwal form the management team said, “We are very happy to announce this significant order win worth Rs 143 crore from Nepal Electricity Authority, which is the first-ever engineering, procurement and construction (EPC) order awarded to Salasar Techno Engineering by a foreign country. This order has enabled us to establish our presence in the exports market and acts as a testimony of confidence placed by the foreign clients on STEL’s continuous efforts to design, supply and execute orders in time while following best-in-class industry standards.”

Going beyond towers

In 2006, Salasar started out as a tower manufacturer with the vision of transforming the industry. At that time, tower manufacturers rarely provided multiple solutions under one roof. Salasar sought to fill this gap by aspiring to become a one-stop shop for India’s telecom giants by carrying out engineering, designing, procurement, fabrication, galvanization and EPC under one roof. Owing to its persistence, expertise and capability to work wonders with steel, today the company is no longer confined to towers and has expanded its range of products and services to encompass all the infrastructural needs of a rapidly developing nation.

On the bourses
BSE: 540642
NSE: SALASAR
CMP: Rs 50.25
Analyst projections
Short term: Rs 70
Positional: Rs 95

He added, “On the financial front, this order win strengthens our already robust order book and is expected to yield good margins.”

STEL is engaged in the manufacturing and sale of galvanized steel structures, including telecom towers, transmission line towers and solar panels.

U.P. POWER REVAMP

The Nepal order is in addition to the recent order won for power projects worth Rs 750 crore in UP. The latter is the development of distribution infrastructure for loss reduction in Bulandshahr, Hapur, Baghpat and Meerut districts of the state under its revamped reforms-based and result-linked distribution sector scheme (RDSS), STEL said in a statement.

The orders in Hapur and Bulandshahr are worth Rs 403.85 crore, while those for Meerut and Baghpat are Rs 344.61 crore.The total order is for Rs 748.46 crore, to be executed over the next 24 months.

“This order showcases our strength in executing large orders, developing products with cutting-edge research and development and most importantly the approach of STEL towards achieving its ultimate mission of delivering innovative, cost-efficient and modern engineering solutions backed by agile service implementation teams,” the company said.

Salasar is among the leading manufacturers of telecom towers in India, with a supply of more than 50,000 towers since its inception. The company has three state-of-the-art manufacturing facilities located in Hapur of Uttar Pradesh.

GLOBAL CLIENTS

Salasar has 600+ clients across 25+ countries, including ITI, Indus Towers and American Towers. The company is committed to protecting the environment and the health and safety of its employees. It believes its excellent performance will contribute to the sustainable growth of the company for generations to come. Its certifications include ISO 45001:2018, ISO 14001:2015 and ISO 90011:2015.