Key Highlights

Of the total sales for Dec 18 qtr, Rs 191 crore is from erecting, Rs 249 crore from civil Rs 146 crore from O&M and rest electrical Rs 23 crore. For the quarter ended Dec 17, Rs 142 crore is from erecting, Rs 58 crore from civil Rs 144 crore from O&M and rest electrical Rs 10 crore

Of the total sales for 9 mths ended Dec 18, Rs 546 crore is from erecting, Rs 599 crore from civil Rs 413 crore from O&M and rest electrical Rs 44 crore. For the 9 mths ended Dec 17, Rs 427 crore is from erecting, Rs 223 crore from civil Rs 387 crore from O&M and rest electrical Rs 17 crore

Domestic revenue during the quarter stood at 79% of total sales and rest would be from international market. For 9 mths ended Dec 18, domestic would be around 72% and rest would be international sales.

Around 66% (80% for Dec 17 qtr) of total sales is from power and 34% (20% for Dec 17 qtr) non power for Dec 18 quarter. For 9 mths ended Dec 18 around 68% (91% for 9 mths ended Dec 17) of total sales would be from power and non power would be 9% ( 32% for 9 mths ended Dec 17).

Dependency on BHEL and power is coming down. BHEL would be around 17-18% of total revenues compared to around 45% of total revenues 2-3 years back.

No presence in renewable energy space at all.

Better working capital management. Debtors days come down to 63 days from 71 days.

Rs 285 crore retention money compared to Rs 300 crore in Sep 18 quarter.

Improvement in retention money and debtors collection. Confident of debt levels remaining at same level.

Rs 6700 crore of orders as on 13 Feb 19. This includes O&M order from Raichur Karnataka government Rs 109 crore.

Railway RVNL Rs 74 crore order is L1. Another Rs 150-200 core in L1 shape.

Around Rs 4070 crore of order inflow so far as on 13 Feb 19. FY 19 aiming for an order backlog of around Rs 6200 crore.

Expects around 20-22% growth in net sales in FY 20. Expects better margins in FY 20 Debt will remain at current levels.

Rs 700 crore of order booking in O&M side. NTPC, Karnataka Power, MP Genko etc are driving O&M order book.

Irrigation, petrochemical, refinery, rail structures, pipelines, electrification etc are some of non power segment driving order book. Focus on Non Power and mechanical side.

Rs 24000 crore of opportunities of orders for the coming year. The company will be selective in orders and booking going forward.

Cash flow: Rs 36 crore cash flows generated in 9 mths

Railway account for around 10% in non power space in 9 mths ended Dec 18.

Revenue booking will start from April 19 onwards for the Sarva Sikhsha Abhiyan project and will be completed in 22 months. The Rs 1300 crore of orders for building schools and other infrastructure from AP government is funded by Central Government. Being an AP company, the government wanted a local company to undertake the prestigious contract. The terms of payment are very lucrative. 40% is given as upfront support from Central Government backed by Nabard, 10% as advance at 6.5% and rest the company has to manage. PowerMech has kept an internal margin of around 25-30% in this project. So funding requirements and margins are very much in control of the company.

No major capex aimed going forward.