The company held its conference call on 21 Feb 18 which was addressed by Mr. Satish CFO
Key Highlights
Order book Rs 4600 crore as on Dec 17. Power sector accounts for around 88-90% of order book. Rest from Railways and others.
Highest ever order inflow of around Rs 2000 crore for first 9 months ended Dec 17, as compared to around less than Rs 2000 crore order inflow for entire year which has been happening in past 3 years.
The company is on target to achieve order inflow of around Rs 2400-2500 crore for FY 18. This should translate in around 25% revenue growth for FY 19.
Working capital levels have improved from Sep 17 quarter and things are slowly coming back on track. Net debt as on Dec 17 is around Rs 210 crore.
No major working capital requirements or any fund requirement seen in FY 19 to achieve 25% revenue growth. Non power should account for around 20-22% of total revenues in FY 19.
Of total order book, O&M is around Rs 850 crore, Civil is around Rs 800 crore, Rs 2200 crore is turnkey contracts.
Exports will be around Rs 1000 crore of total order book.
Lot of traction from Railways seen and is happening.
Cash collection was good in Dec 17 quarter and total incremental cash collection of Rs 89 crore expected by Mar 18.
Non power sector execution requires less time for execution and thus results in faster rolling of working capital.
Going forward by FY 19, O&M to remain around 33-35% of total sales which is from Power sector. Erection which is 90% from power sector to remain at around 40-45% of total sales as compared to around 65% in past. Civil would account for around 20-22% of total sales which will be 90% from non power sector.
The company will also play its role in upgradation of the refineries to BS VI norms. Expects tenders of around Rs 25000 crore to be bid for the upgradation of the refineries in next 12-18 months.
No major capex in FY 18.
Overall tax rate will come down at consolidated level, as tax rates in some of its African subsidiaries is at 15-18%
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