New Delhi, Jul 12 (IANS): Coal and ash handling company Macawber Beekay expects 20-30 per cent increase in its revenue in the financial year 2019-2020, with likely recovery in the power sector.
In an interaction with IANS, Gautam Gupta, joint Managing Director at Macawber Beekay, also said that its orderbook has witnessed a growth of 30-40 per cent so far in the current fiscal and noted that the power sector has started to revive after the recent instances of stressed assets.
"We are now seeing the upswing in this sector. We have crossed the period when it was at the lowest phase for the power industry. With more and more power projects being added, capaciy being added, our portion of the business is getting boost," he said
"All the previous money which was held up as bad debt has been dealt with and certain portions have been written off. So now our balance sheets have become clear, we have even posted profits. For this financial year, we are going to easily see a growth of about 20-30 per cent."
On its plans of expansion, Gupta said that the company is looking for expansion in the country and deepen its market in South East Asia. Currently, it has installations in China, Vietnam, Malaysia, Indonesia and Philippines.
"We are aggressively pursuing the power projects in South East Asia because there will be more upswing in the power sector in South East Asia. Electricity demand will be there at least for the next 10 years. We are going to see lot of projects coming up in 5-10 years."
He also said that the company is working on an 800 MW power project of BHEL in Bangladeshwhich will come up in the next two to three years.
Gupta further said, "We are doing the largest coal handling plant in India which is going to come up in two to three years from now in Patratu, Jharkhand. BHEL is the EPC contractor and order value is to the tune about Rs 250-300 crore."
On the demand for power in India, he said that the power demand in India is set to grow as there is a deficit of power supply and projects and capacities will have to be set up.