Corporate News
Oval Projects Engineering Limited anticipates improved profitability in February and March following a slight dip in EBITDA margins attributed to initial project costs. The company aims for 30% year-on-year order book growth, planning to add INR 200 crore this fiscal year and INR 1,000 crore next year, supported by exploring structured debt and project funding to avoid equity dilution. Oval Projects is diversifying beyond oil and gas into fertilizer and water infrastructure, targeting opportunities including an INR 11,000 crore expansion by Bharat Chemicals & Petrochemicals Limited and a INR 150 crore methanol storage expansion by Assam Petrochemicals Limited. The company is also pursuing projects valued at INR 150 crore in Agartala, Tripura, and INR 100 crore in ONGC projects, alongside government initiatives like Samudra Manthan (INR 84,390 crore) and biogas production (INR 23,770 crore).