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Western India Shipyard
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gajabhau- tks. for the info. Don....
In reply to:
latest--abg n wis connection
Posted by :
gajabhau
see the later part abt wis.
ABG Shipyard, the largest private shipyard, has been the key beneficiary of the higher demand for support vessels (SV) or ships used in oil exploration and other activities. Its current order book of Rs 8,985 crore, which is almost 8.1 times its FY08 revenue, provides revenue visibility for the next four to five years.
While the growth in order book has largely been driven by demand from the oil and gas sector, the company has also benefited from demand for small and specialised vessels such as cost guard, pollution control and short sea trade vessels used in different activities by corporate and government agencies, which accounts for over 25 per cent of its order book.
The critical part is the expansion of capacities, which will help in timely execution of existing orders and to tap the upcoming opportunities in the sector.
ABG is expanding its capacities through organic and inorganic initiatives. It acquired Vipul Shipyard to expand its Surat facility, which is expected to be operational by FY09 and will result in an increase of about 40 per cent in capacity to 44 vessels.
The company’s Dahej facility will be fully commissioned by the end of FY2010, which will have capacity to produce four off-shore rigs and ships up to 1,20,000 dwt. Notably, the company is setting up its biggest shipyard on a 300 acre land in South Gujarat at an investment of Rs 1,200 crore.
However, this facility will become operational in about three years and will build only 6-8 large vessels (annual revenue potential of around Rs 2,000 crore). In ship repairing, which is a growing and high margin business, ABG is in the process of acquiring Western India Shipyard Company (WIS).
In FY08, WIS reported revenues of Rs 43.66 crore and net loss of Rs 28.73 crore. WIS currently has capabilities to repair vessels up to 60,000 dwt. Post restructuring and integration with ABG, prospects for WIS also look good. Overall, the prospects look good and the strong order book and expansion plans should see ABG grow at 35-40 per cent annually over the next three years.
Bharati Shipyard
Bharati Shipyard, the second largest private shipyard in the domestic shipbuilding industry, manufactures different kind of ships such as cargo and tankers with focus on offshore vessels, which account for 70 per cent of its order book.
Increasing E&P expenditure along and ageing of offshore vessels augur well for Bharati. The company’s foray into manufacture of off-shore rigs will reap benefits in the longer term. It is currently manufacturing one off shore rig for Great Offshore.
In the near term, the company’s order book of Rs 4,870 crore (seven times its FY08 revenues) provides good visibility; revenues should grow at 35-40 per cent annually for the next three years.
Its ongoing two greenfield projects at Dabhol and Mangalore with total investment of Rs 1,050 crore are expected to be completed by FY11.
The company believes, post commissioning of these facilities, it would be able to generate business which would be about 5-6 times its current turnover at 100 per cent capacity utilisation.
These capacities will help increase revenues and also facilitate faster execution of orders. In light of these developments, Bharati should show healthy growth.
Shipbuilding capacity
The current order book at the end of May 2008 is about 523.3 million dead weight tonnage or cargo weight. This is more than 50 per cent of the current capacity and is expected to be delivered over the next 4 years.
The reason for such a high percentage? Higher freight rates. Says Revati Kasture, head, Industry Research, CARE Research, "The shipping freight rates remained buoyant in 2004, 2005, 2006 resulting in an ordering spree among the shipping companies."
If a major part of this comes onstream there will be a large overcapacity at a time when growth numbers are muted. However, Citibank research report on yard capacity in key centres such as Korea and China shows that slippages in delivery due to shortage of slots (capacity) at the shipyards will mean that shipbuilders will fall short by 17-18 per cent and 35-37 per cent in 2008 and 2009 deliveries keeping the demand supply situation tight.
China has overcommitted and orders were cancelled as they could not scale up capacity to meet the influx of fresh orders. Additional yard supply is coming in from China, Vietnam, India and Korea in that order.
Says Sharma, "In addition to the lack of capacity at shipyards, reasons for the slippage are the shortage of components.” Despite the talk of a slowdown and excess capacity, the ship building sector industry could see two years of robust growth backed by strong charter rates and overflowing order books.
While the shipbuilding industry is dominated by Korea, China and Japan accounting for 87 per cent of supply, Indian ship builders such as Bharati Shipyard and ABG Shipyard could pose a threat over the next decade on the back of a engineering talent pool, cheap labour and tying up of their component supply chain.
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see the later part abt wis.
ABG Shipyard, the largest private shipyard, has been the key beneficiary of the higher demand for support vessels (SV) or ships used in oil exploration and other activities. Its current order book of Rs 8,985 crore, which is almost 8.1 times its FY08 revenue, provides revenue visibility for the next four to five years.
While the growth in order book has largely been driven by demand from the oil and gas sector, the company has also benefited from demand for small and specialised vessels such as cost guard, pollution control and short sea trade vessels used in different activities by corporate and government agencies, which accounts for over 25 per cent of its order book.
The critical part is the expansion of capacities, which will help in timely execution of existing orders and to tap the upcoming opportunities in the sector.
ABG is expanding its capacities through organic and inorganic initiatives. It acquired Vipul Shipyard to expand its Surat facility, which is expected to be operational by FY09 and will result in an increase of about 40 per cent in capacity to 44 vessels.
The company’s Dahej facility will be fully commissioned by the end of FY2010, which will have capacity to produce four off-shore rigs and ships up to 1,20,000 dwt. Notably, the company is setting up its biggest shipyard on a 300 acre land in South Gujarat at an investment of Rs 1,200 crore.
However, this facility will become operational in about three years and will build only 6-8 large vessels (annual revenue potential of around Rs 2,000 crore). In ship repairing, which is a growing and high margin business, ABG is in the process of acquiring Western India Shipyard Company (WIS).
In FY08, WIS reported revenues of Rs 43.66 crore and net loss of Rs 28.73 crore. WIS currently has capabilities to repair vessels up to 60,000 dwt. Post restructuring and integration with ABG, prospects for WIS also look good. Overall, the prospects look good and the strong order book and expansion plans should see ABG grow at 35-40 per cent annually over the next three years.
Bharati Shipyard
Bharati Shipyard, the second largest private shipyard in the domestic shipbuilding industry, manufactures different kind of ships such as cargo and tankers with focus on offshore vessels, which account for 70 per cent of its order book.
Increasing E&P expenditure along and ageing of offshore vessels augur well for Bharati. The company’s foray into manufacture of off-shore rigs will reap benefits in the longer term. It is currently manufacturing one off shore rig for Great Offshore.
In the near term, the company’s order book of Rs 4,870 crore (seven times its FY08 revenues) provides good visibility; revenues should grow at 35-40 per cent annually for the next three years.
Its ongoing two greenfield projects at Dabhol and Mangalore with total investment of Rs 1,050 crore are expected to be completed by FY11.
The company believes, post commissioning of these facilities, it would be able to generate business which would be about 5-6 times its current turnover at 100 per cent capacity utilisation.
These capacities will help increase revenues and also facilitate faster execution of orders. In light of these developments, Bharati should show healthy growth.
Shipbuilding capacity
The current order book at the end of May 2008 is about 523.3 million dead weight tonnage or cargo weight. This is more than 50 per cent of the current capacity and is expected to be delivered over the next 4 years.
The reason for such a high percentage? Higher freight rates. Says Revati Kasture, head, Industry Research, CARE Research, "The shipping freight rates remained buoyant in 2004, 2005, 2006 resulting in an ordering spree among the shipping companies."
If a major part of this comes onstream there will be a large overcapacity at a time when growth numbers are muted. However, Citibank research report on yard capacity in key centres such as Korea and China shows that slippages in delivery due to shortage of slots (capacity) at the shipyards will mean that shipbuilders will fall short by 17-18 per cent and 35-37 per cent in 2008 and 2009 deliveries keeping the demand supply situation tight.
China has overcommitted and orders were cancelled as they could not scale up capacity to meet the influx of fresh orders. Additional yard supply is coming in from China, Vietnam, India and Korea in that order.
Says Sharma, "In addition to the lack of capacity at shipyards, reasons for the slippage are the shortage of components.” Despite the talk of a slowdown and excess capacity, the ship building sector industry could see two years of robust growth backed by strong charter rates and overflowing order books.
While the shipbuilding industry is dominated by Korea, China and Japan accounting for 87 per cent of supply, Indian ship builders such as Bharati Shipyard and ABG Shipyard could pose a threat over the next decade on the back of a engineering talent pool, cheap labour and tying up of their component supply chain.
...
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Great and only after u sell read latest issue of dalal street on abg page 31 or so where they speak of wis. pls sell on monday so that those who want to buy can do so....
In reply to:
abg deal will be called off
Posted by :
Guest
I'm going to sell my 75,000 shares
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friends, in continuation to my message sent couple of days back, see for yourselves today - 4.95% in upper circuit, with huge buyers standing in long queque.
patience my dost, soon this dark horse will be a marvel. All those who had patience will be rewarded. Atleast long term is bright, sure. I am confident, and that is nothing un-official about it....
In reply to:
abg deal will be called off
Posted by :
paisa_khan
hi hats-off to the brave who can withstand all these guest who are afraid to shown their identity. Pls. do not get carried by these idol people, who are devil workshops. Me to is holding quantity & will wait like a dragon. I say to these guest, come out of the open & be a \\`He-Man\\`. We are not kids, to be carried with ur stupid talks. U yourself will one day get the taste of ur own medicine. samjaa guest ji
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hi hats-off to the brave who can withstand all these guest who are afraid to shown their identity. Pls. do not get carried by these idol people, who are devil workshops. Me to is holding quantity & will wait like a dragon. I say to these guest, come out of the open & be a \\`He-Man\\`. We are not kids, to be carried with ur stupid talks. U yourself will one day get the taste of ur own medicine. samjaa guest ji
...
In reply to:
abg deal will be called off
Posted by : dude sanjay
hi dhyan even am bullish on wis
just tell guest to please get lost n have a life wid his other faltu stocks
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hi dhyan even am bullish on wis
just tell guest to please get lost n have a life wid his other faltu stocks...
In reply to:
abg deal will be called off
Posted by :
Dhyan
Dont worry my dear guest, we have buy almost 1,00,000 shares today. Hope your 75000 was sold on board. If you still missing, kindly put on board. Your order will be exucute as fast as U can not imagine!!!!. Just Try for moment only. Or dont put such types of roumours. We have more stack U can not even think & mind U that the deal of ABG already done. Only court matter pending.
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he is right don't sell hav cool mind i hav stock from 5yrs still i am waiting for my target coz it is very far enjoy ...
In reply to:
abg deal will be called off
Posted by : Dhyan
Dont worry my dear guest, we have buy almost 1,00,000 shares today. Hope your 75000 was sold on board. If you still missing, kindly put on board. Your order will be exucute as fast as U can not imagine!!!!. Just Try for moment only. Or dont put such types of roumours. We have more stack U can not even think & mind U that the deal of ABG already done. Only court matter pending.
BSE Announcements on Western I Ship
Posted by : MMB MessengerTracked by: 0 Boarder
Western India Shipyard Ltd has informed BSE that pursuant to the approvals granted by the Honble Bombay High Court, Goa Bench under the Scheme of Arrangement filed by the Company vide its Order dated June 23, 2006 and June 27, 2008 (Orders). The Board of Directors at its meeting held on August 28, 2008, has allotted 4832850 equity shares of the face value of Rs 2/- each fully paid up at par, to the retail debenture holders settled under the Scheme of Arrangement filed by the Company and approved by the Orders....
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Dont worry my dear guest, we have buy almost 1,00,000 shares today. Hope your 75000 was sold on board. If you still missing, kindly put on board. Your order will be exucute as fast as U can not imagine!!!!. Just Try for moment only. Or dont put such types of roumours. We have more stack U can not even think & mind U that the deal of ABG already done. Only court matter pending. ...
In reply to:
abg deal will be called off
Posted by : Guest
I'm going to sell my 75,000 shares
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I am not very sure but recollect that suresh jajoo was supposed to be a frontman for ketan parekh. Further it is reported that he obtained the shares from reliance group after it lost int in the bidding and therefore is not the original holder and it appears that there may be some ulterior motive to delay the court proceedings , frustrate the small investors and bring down the stock price (he reportedly bought it when it was quoting at 4) further and then purchase more to increase his five percent holding and thereafter either make a killing or become a director in the company by means of his enhanced holdings. this is my interpretation as things stand now.
investors may form their own opinions and decision in the matter.
abg going in for new shipyards is good but it is for building new ships and not for repair facilities which is wisl's main business and hence not contraindicated. Once the case is cleared in abg favour only will it make further committments for modernisation and expansion and possibly converting part of the facility to ship building and not till then....
In reply to:
what is the future ofwis
Posted by : kufu
Every bit of information published in to-days Eco times is absolute truth except the statement of ABG THAT the matter is in the courtThis is for information of all concerned that even after elapsed of 13 months of so called ABG take over NO case of amalgation or take over by ABG has been filed with HON Highcourt of mumbai at GOA please confirm the same from the Registar if you so desireInformation of case having filed by the management or secretrial department is misleading and not correctThe news about UTI AMC is absolutely true so about non CDR members as mentionedCompany is putting obstrucles converting UTI dues in to equity as per agreement where as this has been done for all CDR members Banks.It WOULD BE INTERESTING THAT ONE SHOULD VISIT THE YARD at GOA to see things and discuss the matter face to face with the management.
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I'm going to sell my 75,000 shares...
In reply to:
abg deal will be called off
Posted by : Guest
Oh...God...wat happens...
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Oh...God...wat happens......
In reply to:
abg deal will be called off
Posted by : Guest
abg deal will be called off by the court wait and see what happens
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abg deal will be called off by the court wait and see what happens...
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ABG in new Gujarat shipyard venture / Will they be interested in upgrading WISL at this stage ??
The Indian private shipbuilder ABG Shipyard has decided to set up a greenfield shipyard in south Gujarat with an investment of Rs 1,200 crore. The new 300 acre shipyard will be larger than ABG's two existing shipyards at Surat and at Dahej in Gujarat. ABG Shipyard CFO Dhananjay Datar said, “The new shipyard will cater to larger ships and offshore vessels. It will have a capacity of building six to eight ships a year.”
The proposed shipyard will be set up near existing facility in Hazira and expected to be operational in three years. The company expects that the new shipyard will be able to generate revenues of over Rs 2,000 crore every year and the company is expected to double the size of its order book to Rs 10,000 crore in two years following cancellation of orders at various shipbuilding yards across the globe, including China.
Analysts suggest that the Indian yards have recently recorded new orders in the offshore services, a segment benefiting from expansion of companies engaged in oil and gas exploration. “With huge order inflows last year, Indian companies are reasonably comfortable for the next few years and are focusing more on capacity expansions,” said an analyst. Bharati Shipyard is also going for a major expansion plan.
A recent study suggests that about 17% orders for building new OSVs are with Chinese yards but claims their delivery will be delayed, putting further pressure on vessel supply shortage and increasing demand. OSV comprises 45% of total order of new vessels.
Source: The Motor Ship
...
In reply to:
what is the future ofwis
Posted by : kufu
Every bit of information published in to-days Eco times is absolute truth except the statement of ABG THAT the matter is in the courtThis is for information of all concerned that even after elapsed of 13 months of so called ABG take over NO case of amalgation or take over by ABG has been filed with HON Highcourt of mumbai at GOA please confirm the same from the Registar if you so desireInformation of case having filed by the management or secretrial department is misleading and not correctThe news about UTI AMC is absolutely true so about non CDR members as mentionedCompany is putting obstrucles converting UTI dues in to equity as per agreement where as this has been done for all CDR members Banks.It WOULD BE INTERESTING THAT ONE SHOULD VISIT THE YARD at GOA to see things and discuss the matter face to face with the management.
Tracked by: 0 Boarder
Every bit of information published in to-days Eco times is absolute truth except the statement of ABG THAT the matter is in the courtThis is for information of all concerned that even after elapsed of 13 months of so called ABG take over NO case of amalgation or take over by ABG has been filed with HON Highcourt of mumbai at GOA please confirm the same from the Registar if you so desireInformation of case having filed by the management or secretrial department is misleading and not correctThe news about UTI AMC is absolutely true so about non CDR members as mentionedCompany is putting obstrucles converting UTI dues in to equity as per agreement where as this has been done for all CDR members Banks.It WOULD BE INTERESTING THAT ONE SHOULD VISIT THE YARD at GOA to see things and discuss the matter face to face with the management....
In reply to:
what is the future ofwis
Posted by : Guest
Guys
This is a big problem for us. Further delay. God knows whether small investor like us will get any returns. Read below news from ET
A couple of stakeholders of Western India Shipyard have filed a caveat before the Goa High Court, pleading a hearing before the court gives an order on ABG Shipyard’s acquisition of Western India Shipyard, report Apurv Gupta & Sumantra Das in Mumbai.
The duo, Kanta Devi Chaudhury and Suresh K Jajoo, have alleged procedural lapses, including failure to secure shareholders’ approval required under the Companies Act, 1956. An official at UTI Asset Management Company, one of the debenture holders in the company, said it too plans to file a caveat.
When asked about the development, a senior ABG Shipyard official said: “The matter is with the court now. Our company will remain neutral until any court order.”
These stakeholders have raised objection to the fact that members of the Corporate Debt Restructuring (CDR) cell have approved the scheme of arrangement between WISL and ABG without any open-tender process on the basis of Expression of Interest. Under the restructuring package proposed by the CDR cell, WISL has already restructured its share capital downward from Rs 108.54 crore to Rs 21.72 crore, and also restructured its debenture liability from Rs 42.48 crore over the years to around Rs 96 lakh through the conversion of its non-convertible debentures of Rs 60 each into six equity shares of Rs 2 each at par as per the scheme of arrangement approved by the Bombay High Court filed with BSE.
As per the scheme, there will be two options; the first option provides for repayment over nine years with conversion of dues in two phases of 36% and 42% into equity shares at Rs 2. The second option provides for a one-time settlement (OTS) repayment of 42% of the loan within 10 days, in terms of the scheme filed with BSE.
The stakeholders have alleged that the scheme was unfair and was being pushed through by the company’s board of directors headed by three nominees of ICICI Bank with the approval of CDR members. It was detrimental to the interests of small creditors, shareholders and non-CDR members. When contacted by ET, an ICICI Bank spokesperson said: “It would be inappropriate for ICICI Bank to comment on client specific issues.” The stakeholders’ charge that CDR members have ignored the views of the non-CDR members like IndusInd Bank, Punjab and Sind Bank, Janata Sahakari Bank, UTI and Saraf/Jajoo and the Chaudhary group (ex-NCD holders).
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