Nine month performance

Consolidated sales for the period were down by 28% to Rs 1128.89 crore. With OPM being negative 3.1% (compared to positive 13.1% in the corresponding previous period) the operating profit was a loss of Rs 34.48 crore (compared to a profit of Rs 205.65 crore in the corresponding previous period). The PBT was loss of RS 105.68 crore (compared to a profit of RS 130.31 crore in corresponding previous period) after accounting for higher other income, higher interest and lower depreciation. Eventually at PAT level it was a loss of Rs 80.44 crore (compared to a profit of Rs 97.58 crore in corresponding previous period) with taxation being a write back of Rs 25.24 crore, a swing of Rs 57.96 crore from a provision of RS 32.72 crore. After accounting for higher share of loss from JV (to RS 4.21 crore a swing of Rs 5.79 crore from a profit of Rs 1.58 crore) and MI (being a share of loss of Rs 3.39 crore, up 343%), the net loss was Rs 81.26 crore (compared to a profit of RS 99.92 crore in the corresponding previous period). 

Other developments

Order inflow in 9mFY21 was Rs 2836.2 crore [Erection 20%; O&M 9%; Civil 71%]. Order back log as end of Dec 31, 2020 stood at Rs 6284.6 crore [Erection 37%; O&M 13%; Electrical works 4%; Civil & other works 45%].  

Order back log (excluding execution post 31st Dec 2020) as on 16th Feb 2021 was Rs 7353 crore [(Domestic order Rs 6267 crore; International RS 1086 crore) (power sector 65.4% non power 34.6%)]. The company expect to close FY21 with an order backlog of Rs 7600-7700 crore.