Key takeaways of the call

Order booking (including aftermarket orders) during FY2015 stood at Rs 646 crore. Of which aftermarket order booking amounts Rs 144 crore. The product order intake in FY2015 was about Rs 503 crore (up 10%). While the export order intake stand at Rs 293 crore (up 100%) balance are domestic orders.

Standalone order backlog (including aftermarket orders) as Mar 31, 2015 stood at Rs 603 crore with that of consolidated order backlog was Rs 747 crore.

On an increased turnover the mix between product and after-market in turnover has improved from 21% in FY14 to 23% in FY15.

The domestic market for turbines upto 30 MW remained subdued for the third successive year with an overall market being around 700 MW. The major demand segments were also similar to that of previous years namely sugar & other process co-generation especially paper and chemical segment. Even though economic activities are gaining momentum with improved sentiments and certain policy initiatives, the actual situation on the ground is yet to be visible in terms of order booking etc., and the company believes that it will take some more time to achieve that. Meanwhile, the business is witnessing an increase in new enquiries and the customers are in the process of evaluation of their capex plan, which should culminate in order booking in the later part of FY2015-16. If not happen in H2FY16 there will be strong order inflow in H1FY17.

In spite of tough market situation and competition getting aggressive, the company maintained its market share at around last year's level of 63%.

The Company believes that its export business going forward will significantly contribute to its overall growth given its initiative to internalize its business yielding fruits with enquiries from over 100 countries. The current trends in export order booking for product and services is also in the right direction to achieve the same.

The company's international order booking in FY2015 was primarily from biomass and other renewable sources, which once executed, will help the company to demonstrate references in many new geographies in future.

The company has built up competence with value engineering despite depreciation in yen.

As the company has built-up expertise in servicing and refurbishing others players product as well there is enormous opportunity to tap. Thus the company expects strong traction in aftermarket business both in domestic and international markets.