TD Power Systems held a conference call which was addressed by Nikhil Kumar, MD.
Highlights of the call:
Consolidated sales stood at Rs 480.23 crore in FY 2014, down 18%. PAT fell 46% to Rs 22.40 crore.
Exports were Rs 127 crore in FY 2014.
For the quarter ended March 2014, consolidated sales grew 4% to Rs 183.11 crore and PAT improved 2% to Rs 14.22 crore.
The company's manufacturing business has supplied 2,230 generators as of March 31, 2014 with an aggregate output capacity of over 18,514 MW in 55 Countries.
New customer accounted for 95% of the business.
Top 10 customers accounted for 52.2% of sales in FY 2014.
In the manufacture business the company has diversified portfolio customized for a wide range of turbines (steam, gas, hydro and wind) and engines (diesel and gas).
The company's total order book stands at Rs 525.20 crore.
Outstanding order book of the manufacturing sector stands at Rs 272.70 crore. Out of this 42% is from exports. If one looks at deemed exports it is higher at 72% to Rs 196 crore.
Rest is domestic orders.
The company has very strong visibility of its export business.
US subsidiary is in a good position and will contribute to sales growth in FY 2015.
Outstanding order book of the project business stands at Rs 108.80 crore, which is all domestic order.
Outstanding order book of the EPC Business stands at Rs 143.70 crore. All orders are domestic orders.
The company has no capex plans for the next three years except depreciation and maintenance.
In its Project business division, Power Projects order book as on March 31st, 2014 stands at Rs 252.5 crore (43% in TDPS, 57% in DFPS).
The company has executed 113 projects aggregating 3,022 MW in India and abroad (102 TG island projects and 11 BTG island projects).
In EPC business the company is expecting domestic market revival to take place and the company will pick up some orders from that.
For FY 2015 the company expects sales growth of 16% and EBITDA of at least 16% which has decent scope for improvement.
Project and EPC business will be stagnant and will break even.
Strong order book is expected to improve capacity utilization, allowing execution to increase.
There will be definitely better days in nine months time from now since new government has come into power. Right now there is optimism.
Global markets are not very good but revival in the Indian markets will be quicker and better.
Wind turbine is a multi dollar market worldwide.
The Board of Directors have recommended Dividend of Rs 2.30 per Equity Share of Rs. 10/- each for the financial year ended 31.03.2014
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