Sanghvi Forging & Engineering (SFEL), an engineering and forging company, announced that company has received an orders worth Rs 100 million.
The company said, "The fresh orders have come in from Oil & Gas, power and irrigation sectors. The majority of the orders received by the company are for its new heavy open die forging plant."
The company's newly started heavy open die forging unit with the capacity of 15000 MTPA has increased the company’s forging capacity fivefold.
The total order book size as on Oct.14, 2015 is Rs 400 million and out of this around 75% is domestic and rest is from export orders.
The new plant is equipped with product quality approvals from all major industrial sectors i.e Petrochemicals, Power, Oil & Gas, Defence, Aerospace sectors.
Shares of the company gained Rs 0.9, or 1.96%, to settle at Rs 46.90. The total volume of shares traded was 8,512 at the BSE (Wednesday).