Mazda bags Rs 13 crore orders in six months

The Ahmedabad-based Mazda Ltd has bagged orders worth Rs 13.2 crore in the first six months of the current financial year.

The company had recently bagged a Rs 1.4 crore order from Croll Reynolds Co Inc of the US, a Rs 1 crore order from Reliance Industries, a Rs 85 lakh order from Indian Oil Corporation and a Rs 96 lakh order from Triveni Engineering Industries.

"We have received most of these orders in the last two months and we expect to complete most of them in the next six months. The company has reported a turnover of Rs 24.53 crore for the last financial year and with the strong order book position, we aims to end the current financial year with a turnover of over Rs 32 crore," said S R Mody, managing director, Mazda, on Thursday.

The company is into the manufacturing of critical control valves for power plants, refineries and other heavy duty machinery, besides boilers, condensers, cooling towers, recovery systems and large capacity pumps.

Mazda is also into the manufacture of air pollution control systems, evaporators and crystallisers, vaccum pumps and turbine systems.

Other major orders of the company include one from the Keelung Incinerator in Taiwan to replace super critical turbine bypass valves for the nuclear power plant at Tarapore, an order from Daelim Engineers and Constructors, Korea, where Mazda will supply five desuperheaters, a contract from Larsen & Toubro for 12 desuperheaters for the Panipat Refinery and a contract with Siemens (Earlier Alstom Power) for supply of pressure reducing systems, and safety valves, among others. Last year Mazda entered into a strategic alliance with the US-based Croll Reynolds.

Besides Croll Reynolds, Mazda has a tie-up with Kauer Engineering, Germany, to manufacture specialty valves for power plants. Only three-four companies globally have the technology and precision for manufacturing hypercritical valves in power plants, even nuclear power plants.

Mazda pays a royalty of five per cent to Kauer for all domestic sales and eight per cent export royalty.

Formerly known as Mazda Controls, the company went public in 1993 and has been paying dividends regularly. It has completed a 10 per cent buyback of equity shares in July last and the net worth (capital and reserves) stand at over Rs seven crore.