PSL Limited has announced that the company has won a contract worth Rs 125 crore for the supply of coated line pipes and long radius bends for the 200 km Dullajan Numaligarh Pipeline in Assam.

The order consists of supply of primarily 16-inch Outer Diameter API 5L (X65 Grade) bare/coated line pipes.  These pipes have to be supplied by mid-2008, and PSL shall supply these pipes in entirety from its Varsana pipe mills in Kandla, Gujarat.

The above order from the Government of Assam substantiates the Company's firm hold in the globally tendered domestic pipeline supply segment as it has secured this project among competition from both international and domestic supplies.

PSL Limited, a global leader in manufacturing and coating of pipes for transporting hydrocarbon products and the largest manufacturer of high-grade large diameter Helical Submerged Arc Welded (HSAW) pipes in India

Ashok Punj, MD of PSL Limited, said, “PSL is proud to be associated with DNP Ltd. for the supply coated pipes for their Duliajan-Numaligarh pipeline project. The North-East constitutes an important source of supply for the growing energy requirements of the Indian emerging market, and projects such as this are an important step towards satisfying these requirements.”

Including present order, the company has bagged 8 successful orders in domestic oil and gas industry pipeline.

The firm presently holds market cap worth Rs. 2074 crore, PE Ratio of 28.38; EPS of 17.30 and BV of 98.31. The firm had showed a net profit of Rs 19 crore for the quarter ended September 2007 as against Rs. 14 crore in same quarter of last year.

At 13:21 PM, the share was trading at Rs. 494 on NSE and at Rs. 491 on BSE.