Capitaline

Analyst Meet / AGM 01-Jun-12

Conference Call

BGR Energy Systems

Expect 25% growth in sales turnover for FY2012-13

BGR Energy Systems held a conference call on May 30, 2012 and highlights of the same are:

The company carries an order book of over Rs 15123 Crore (includes being L-1 bidder pending LoA from NTPC) comprising of Boiler Turbine Generators (BTG), Engineering Procurement and Construction (EPC), Balance of Plant (BoP) and capital goods. The order book as end of March 31, 2012 was Rs 7516 crore.

NTPC Bulk Tender – In FY12, the company emerged L1 to supply 6 units of 660 MW boilers for Solarpur, Meja and Raghunathpur Phase II and 4 units of 800 MW TG sets for Lara STPS and Darlipali STPS. Of these NTPC orders where the company has emerged L1, the company has already got the LoA for supply of boilers for 2X660 MW Solarpur TPS and 2X660 MW Meja TPS. The company expects the orders to supply 2X660MW boiler for Raghunathpur as well as that to supply TG for 2X800MW Lara STPS at Raigarh and 2X800 MW Darlipalli STPS at Sundergarh to come in Q1FY13.

Standalone revenue stood at Rs 3452 crore for the twelve months ended March 31, 2012 with net profit at being Rs 224 crore. The company achieved higher EBIDTA margin for the current year at 13.73%. Power Projects Division (PPD) contributed Rs 3043 crore to the revenue. The other capital goods businesses - Air Fin Cooler division (AFC), Environmental Engineering Division (EED), Oil and Gas Equipment Division (OGED) and Electrical Projects Division (EPD) – contributed 11.75% to the overall revenue compared to 7% last year. The AFC, EED and EPD divisions registered significant growth over last year.

Revenue contribution from major projects in FY12 – Metur Rs 450 crore, Kalisindh Rs 785 crore, Chandrapur Rs 650 crore, Malwa Rs 50 crore and Krishnapatnam is Rs 330 crore.

For fourth quarter ended March 2012, the revenue stood at Rs 1138 crore with a net profit of Rs 67 crore. Revenues from the Power Projects Division (PPD) were Rs 1033 crore.

The outlook for the long term remains encouraging and positive. The company is in the right direction and geared for greater growth in the years to come.

The 2X300 MW TNR Energy EPC contract worth Rs 1698 crore is expected to start contributing to topline in FY2013 and it has not contributed any thing to topline in FY12. TRN Energy project is located at Nawapara Village, Chattisgarh.

Major project under tender pipeline is – NTPC tender for , RJVNL retender for 2 cancelled projects, TN power project, 1X660MW Dasaval Power project and Malwa Extension.

Construction of manufacturing plants will commence in July 2012. The plant will be ready by the schedule for supply of 2^nd and 3^rd boiler for NTPC bulk tender. But the critical components for 1^st boiler plant will come from Hitachi Power, Europe.

While Mettur Power plant is already synchronized, the Kalisind project is near synchronization.

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