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Hindustan Dorr Oliver

Company Website http://www.hdo.in

My Call - Invest

Rational -


1.Environmental Engineering would become more and more important with
growing industrialization, people's awareness. First movers in this area would
naturally get benefit.


2. Waste and water treatments at big cities, municipalities, new
townships would become very important


3. IVRCL as management group has already established themselves.


4. Exposure to MF is good.


5. Fund houses taking good exposure to this scrip.



Market Cap 595.67 Cr
Book Value 30.13
Dividend 25.00%
Face Value 2.00
PE 34.25

HDOL, owned by the Hyderabad-based, infrastructure major, IVRCL Group is a total engineering solutions provider in the field of Pulp & Paper, fertilisers, minerals beneficiation and all kinds of
water and waste treatment plants. Hindustan Dorr Oliver (HDO) is one of the few
players focused on the niche area of environmental engineering solutions in
India. After coming under the management of the IVRCL group, HDO has been moving
rapidly in the environmental engineering space and has engineered a solid
improvement in operations. With several projects planned in the mineral, process
and refinery sectors, HDO's order backlog is rising fast. It has more than
doubled since March 2007. On the back of its significant technological base, the
company plans to scale up its knowledge process outsourcing (KPO) business. HDO
posted a 133% growth in earnings in FY07. Kotak Sec projects that earnings to grow at a CAGR of 50% between FY07-09.


Brokerage House Calls


Buy Hindustan Dorr Oliver, tgt Rs 181; Kotak Sec (@ moneycontrol.com)


News


1. Hindustan Dorr bags Rs 111-cr contract from HPCL (The Hindu Business Line)

The company bagged the order for design, supply, engineering and
construction of integrated effluent treatment plant from HPCL for its refinery
at Mumbai.


2. The company had earlier also bagged an order from petroleum major - Indian
Oil Corporation worth approximately Rs 85 crore for re-cycling plant (RO
Technology) for IOCL - Haldia refinery. (Business
Standard). The order is for re-cycling plant for IOC for their Haldia
Refinery, which is the biggest recycling plant using Reverse Osmosis Technology
in any refinery in India. The project is to be commissioned within 18 months,
according to a company notice to the stock exchanges.

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