Bharati Shipyard (BSL), which is close to to take control over Great Offshore (GOL), has not decided on the second open offer, a top company official said here today.
"The Bharati Shipyard management has not taken any decision for another open offer to take control of Great Offshore," BSL Managing Director P C Kapoor told reporters here.
Currently, Bharati holds 45.88 per cent equity stake in Great Offshore translating into 1,70,84,352 shares at a total cost of Rs 812.45-crore. The average cost per share works out to Rs 475.55.
Meanwhile, Bhararit today reported 3.56 per cent rise in net profit for the December quarter to Rs 32.93 crore compared to Rs 31.80-crore during the corresponding period last fiscal. "Our healthy order book position and efficient execution of orders has helped the company report higher growth," Kapoor said.
Currently, the company has an order book of Rs 4,987.4 crore and comprises offshore segment like AHTS, OSVs and oil rigs. The unexecuted order book for BSL stood at Rs 2,471 crore.
Bharati Shipyard's net sales for the third quarter jumped 38.49 per cent to Rs 319.48 crore as against Rs. 230.68 crore during the corresponding period last fiscal.
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The company also looking at defence orders as it bags Rs 290 crore order in past nine months. "We are looking at defence orders in a major way. We are also keen to bid for fresh defence orders," Kapoor said.
Bharati currently owns five shipyards including the Dabhol, Ratnagiri, Ghodbunder, and Mangalore, while its proposed Bengal unit is facing land acquisition problems.
"Our proposed shipyard project in Bengal has been facing land acquisition problem for quite some time. Though, we are not decided anything shelved out the project from there yet," company said. Its subsidiary Pinky Shipyard owns a shipyard at Goa.