ALSTOM T&D India Limited Quarter and Year ended March 2013 ...

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ALSTOM T&D India Limited Quarter and Year ended March 2013 Results 6th May, 2013

Transcript of ALSTOM T&D India Limited Quarter and Year ended March 2013 ...

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ALSTOM T&D India LimitedQuarter and Year ended March 2013 Results

6th May, 2013

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Disclaimer

Forward-looking statements

This document contains forward-looking statements and information. These statements includefinancial forecasts and estimates as well as the assumptions on which they are based, statementsrelated to projects, objectives and expectations concerning future operations, products andservices or future performance. Although the management believes that these forward-lookingstatements are reasonable, Interested parties are hereby advised that these forward-lookingstatements are subject to numerous risks and uncertainties that are difficult to foresee andgenerally beyond ALSTOM T&D India’s control.

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Financial Year Change and Comparatives

• In the previous accounting period, the Company’s financial year comprised a period of fifteenmonths from Ist January 2011 to 31st March, 2012,whereas the current financial year is of twelvemonths ended 31st March, 2013. Further, the distribution business of the Company was demergedin the previous period with the appointed date of Ist April,2011. The previous period financialinformation includes such information for the demerged business for the quarter ended 31st

March,2011. Therefore, the current year and previous period financial information is not strictlycomparable

• The figures for the quarters ended 31st March,2013 and 31st March,2012 are the balancing figuresbetween the audited figures in respect of the full financial year/period and the unauditedyear/period to date figures upto the previous quarter

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Open Offer

The process of ‘Open Offer’ made by ALSTOM Holdings, France (Acquirer) in terms of Securitiesand Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations,2011was completed in February,2013 and in terms of the same, 1,65,85,241 Equity Shares of theCompany were tendered by the Shareholders of the Company and 1.65,42,372 Equity Shareswere acquired by the Acquirer. The shareholding in the Company of the Acquirer/PromoterGroup, as a result increased to 80.31% from 73.40% as hitherto

The Acquirer/Promoter Group have committed themselves to reduce their shareholding in theCompany within the regulatory time frame, such that the minimum public shareholding of thevoting share capital of the Company is maintained, to enable the Company’s Shares continuing tobe listed

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Indian Economy and T&D Market

Indian Economy 2012/13 GDP growth of 5.3% is the lowest during last 10 years

No clear positive signals on investment climate

T&D Market SEB financial Losses are the key concern in the sector which has impacted the T&D segment as well as the

IPPs

Eight States have agreed to adopt the debt restructuring plan of the Power Ministry for their SEBs. The T&D market recovery depends on the execution of FRP

T&D Market shrank by 9% to 10% in financial year 2012-13

Severe price pressure on orders continues, Sales are impacted due to delay in Power and Sub-Station projects

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Orders / Backlog Highest ever order intake of Rs 47 BINR achieved during 2012-13 despite prevailing tough market

conditions in Power and T&D Sectors Orders booked during the quarter Rs 6.76 BINR Order Backlog at a robust level of 62 BINR with a better GM% During the year 11 BINR of order were refused due to lower GM% on such order

Sales Sales revenue increased by 53% over the preceding quarter

Profit Operating profit for the quarter recorded at 8.4% compared to 4.6% in the preceding quarter Profit After Tax (PAT) for the quarter recorded at 4.9% compared to 1.4% in the preceding quarter

Key Events Maintained leadership in 765 kV segment, the emerging Grid backbone voltage for the 12th plan, with 29

out of India’s 50 substations at 765 kV being installed with ALSTOM technology Won the prestigious ‘Delhi Grid Islanding‘ project from Delhi Transco Limited A record number of 88 substations, ranging from 66 kV to 765 kV,were commissioned

and delivered during fiscal year 2012/13

Financial Highlights & Key Events

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MINRNTPC Power Transformers Package for Nabinagar 1,025

Alstom Hydro GIS Package for Tehri 750

AP Transco 400/220 kV Substation for Kamavarapukota 575

Thermax eBOP package for 2*40 MW Power Project 500

Nagarjuna Construction Generating Transformers package for 2*660 MW PPs 375

Alstom Power Generating Transformers package for Tehri Project 375

Main Orders

Mixed bag of orders during the quarter but, market continues to be challenging

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10,15612,528 13,370

6,758

9,872

0

3,000

6,000

9,000

12,000

15,000

18,000

Mar'09 Mar'10 Mar'11 Mar'12 Mar'13

Order Intake

MINR Scope change due to demerger of “Distribution Business”

Significant increase in non Power Grid orders in March 2013

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Q4 & 12 months ended Dec 2011 ALSTOM T&D India Ltd Results Copyrights reserved

Order intake and Backlog

ORDER BACKLOG

46,818

62,257

Mar 2012 Mar 2013M

INR

33%

Market leadership continues for 5th year

ORDER INTAKE - 12 Months

5,56910,875

12,273

17,4646,640

11,80213,370

6,758

2011-12 2012-13

M IN

R

37,852

46,899

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7,741

9,914 10,149 10,886

8,679

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Mar'09 Mar'10 Mar'11 Mar'12 Mar'13

Sales

Scope change due to demerger of “Distribution Business”

7.3%

MINR

Strong focus continues on Sales and Cash. 88 Sub-stations delivered and commissioned during 2012-13

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35

288

454531514

0

100

200

300

400

500

600

700

800

900

Mar'09 Mar'10 Mar'11 Mar'12 Mar'13

Profit After Tax

Scope change due to demerger of “Distribution Business”

MINR

Higher Profit during the quarter with increase in sale volume and product mix

17.0%

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Key Data for 3 months ended 31st March,2013

Sales Revenue 10,149 10,886 7.3%

Operating Income 885 919As % of Sales 8.7% 8.4% -0.3 pts

Profit After Tax 454 531As % of Sales 4.5% 4.9% 0.4 pts

MINR Quarter Quarter ChangeMar’12 Mar’13

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Key Data for 12 months ended 31st March,2013

Sales Revenue 41,391 31,519

Operating Profit 3,287 1,816As % of Sales 7.9% 5.8%

Profit After Tax 1,624 841As % of Sales 3.9% 2.7%

Order Backlog 46,818 62,257

MINR Actual 2012* Actual 2013*(15 Months) (12 Months)

* In the previous period, financial year comprised of fifteen months, whereas the current financial year isof twelve months. Further, the previous period financial information includes information for thedemerged business for the quarter ended 31st March, 2011. The current year and previous periodfinancial information is therefore not comparable

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