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1TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED
AN INVESTOR PRESENTATIONFebruary 2016
2TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED
TEECL Techno Electric & Engineering Company LimitedIREDA India Renewable Energy Development AgencyPGCIL Power Grid Corporation of India LimitedBHEL Bharat Heavy Electricals LimitedGBI Generation Based IncentiveREC Renewable Energy CertificateCDM Clean Development Mechanism CER Certified Emission ReductionBOP Balance of PlantBOOT Build Own Operate TransferBOOM Build Own Operate MaintainEPC Engineering, Procurement, ConstructionT&D Transmission & Distribution
ABBREVIATIONS USED
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 3
SNAPSHOTTEECL is headquartered in Kolkata (India)
Completed and delivered 290+ projects in existence (up to 31 March 2015)
Employs 400+ professionals (engineering, commercial, graduates and post‐graduates)
Core engineering team possesses average experience of 25+ years
Listed and traded on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)
Enjoyed a market capitalization of INR 27,960 mn (as on 13 Feb, 2016)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 4
TECHNO’S OPERATING STRUCTURE
EPC
Greenpower
Linkages
117.90
Simran WindProjects Limited
100%
5TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED
OVERVIEWTEECL, one of the most attractive proxies of India’s power sector One of the largest in the power‐infrastructure space in India
Engaged in three business types – EPC/Asset Ownership/Operations and Maintenance
Covers three power sector segments ‐ generation, transmission and distribution
Lifecycle engagement ‐ design to commissioning to handover to maintenance
CPSUs, State‐run utilities and private sector customers (captive power plant and power distribution system for power intensive industries)
Addresses complete solutions for conventional and renewable sectors
Once a customer, always a customer
1980Launched EPC
services
2009Entered renewableenergy generation
2010Entered transmission
segment
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 6
RICH PROMOTER EXPERIENCETEECL led by Mr P. P. Gupta, Key promoter & Managing Director
Honours Graduate in Industrial Engineering; post‐graduate in Management (IIM, Ahmedabad); working experience with BHEL; merchant banker with National Grindlays Bank
Partnered in Techno Electric and Engineering Company Ltd in 1980
Grew TEECL into prominent Indian EPC company engaged in power generation and transmission PPP linkages
Engaged with industry associations (IEEMA, Confederation of Indian Industry, IIPW and IIW; Vice President of Indian Electricals and Electronics Manufacturers Association)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 7
ONE‐STOP SOLUTIONS PROVIDERBOOT and BOOM projects (providing annuity income)
EPC (T&D + rural electrification + captive waste heat recovery + solutions for power‐intensive industries (80% of revenues, 31% of EBIDTA, FY15)
Green power generation (16% of revenues, 54% of EBIDTA, FY15)
PPP transmission: capital‐intensive, modest ROE, stable multi‐year income/cash flow, in‐house EPC business, annuity O&M revenuesEPC: Less capital‐intensive, high risk‐reward ratioWind energy: Capital‐intensive, modest IRR, multi‐year stable income/cash flows
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 8
GROWING RESPECT AND RECOGNITIONMr. P. P. Gupta receiving the best performance award, 2013
National award for meritorious performance, 2014
National award for meritorious performancein the power sector from the
Ministry of Power, 2014
Best performance award 2015, 2014 & 2013 from Power Grid Corporation
‘Best Under a Billion’ (according to Forbes) –Top 200 small and mid‐cap companies
Named ‘Best Vendor in Eastern India’ by Bharat Heavy Electricals Limited in 2010‐11
Meritorious Performance in Power Sector in 2011‐12 by Ministry of Power
Certificate of appreciation from North Bihar Power Distribution Co. Ltd.
TEECL BUSINESSES
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 9
Engineering, Procurement and Construction Services
Transmission projects under PPP model (BOOT and BOOM)
Renewable Energy Generation
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 10
OPTIMISTIC OUTLOOK: POWER SECTORTwelfth Plan capacity addition: 100,000 MW (Pvt. sector: 57%, CPSUs: 29%, SEBs: 14%)
Generation capacity > Transmission capacity
Transmission spending to rise: 30p/rupee invested in generation to 50p/rupee
USD 75 bn transmission investment (Twelfth and Thirteenth Plans) inadequate
1.93 bn units supply to SEBs lost in transmission bottleneck
India’s generation capacity to increase to 388 GW by 2022; corresponding transmission investments warranted
Investment in transmission: (projected) USD 35 bn in 12th Five Year Plan
12th Five Year Plan•USD 19 bn by Power Grid; USD 16 bn by private sector•TEECL aiming to capture around 5% of USD 35 bnopportunity•SEB spending INR 600 bn/year
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 11
National Tariff Policy 2006; tariff‐based competitive bidding for transmission projects
Transmission projects through increased private sector investments. Estimated investment of INR 1000 bn in the Transmission projects
To increase cost‐effectiveness, improve efficiency and reduce government burden
Techno attractively poised to bid
~50% generation capacity growth in five years; transmission capacity growth only ~30% out of which 35% generation capacity is in private sector where as only 2% is in private sector in the transmission sector
(Contd.)
INR 600 bnPower Grid spending
in 10th Five Year Plan
INR 1100 bnPower Grid spending
in 12th Five Year
INR 800 bnPower Grid spending
in 11th Five Year
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 12
OUR BOOT AND BOOM BUSINESS
Leveraging EPC knowledge as transmission complements EPC
Long‐term annuity incomes; annuity model enhances valuation and profitable encashment opportunity
Generates operations & maintenance revenues
Asset ownership; enhances scale and stability
Growing government preference for private sector role
Reduces requirement to bid aggressively and therefore decrease participation in unhealthy competition
Why transmission?
1
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 13
Techno’s transmission competitiveness
Extension of EPC capability ‐ leveraged knowledge; extended from one segment to another Competitiveness has translated into a higher strike rate in bagging projectsActive solutions orientation • 400 kV to 765 kV substations• Extensive vendor ecosystem ‐ timely project delivery/excellent negotiation ability/quality control400 professionals with diverse skills (EPC and support) Low gearing; high credit rating; low‐cost debtDelivered most EPC and BOOT/BOOM projects on or before scheduleIncreased global interest in our business model
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 14
PROJECT ONE: JHAJJAR KT – HARYANA Pioneering BOOT transmission model at state level.TEECL first successful network bidderImplementing agency Jhajjar KT Transco Pvt. Ltd. 51:49 JV of Kalpataru Power Transmission Ltd. and Techno ElectricJV commissioned 400 kV project (March 2012)Project commissioned in record 15 monthsFirst transmission project to receive viability gap funding support from Central GovernmentNational award for meritorious performance from Ministry of Power, 2014
400 kV transmission system comprises Double Circuit Quad Moose Line
Extending from Jharli to Kabulpur, Rohtak (35 KM)
Extending from Kabulpur to Dipalpur, Sonepat (64 KM)
Two substations of 400/220 kV of 24 bays each at Rohtak and Sonepat
Transmission network designed to evacuate 2,400 MW
Will initially transmit 1,320 MW (2X660 MW) from Jhajjar Power Plant
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 15
JHAJJAR KT PROJECT DETAILS Using products/sub‐systems from globally reputed manufacturersINR 4440 mn project (debt and equity)INR 2760 mn debt and combined equity (INR 760 mn) from JV partnersINR 920 mn grant by Central GovernmentINR 450 mn income/month without considering inflationCurrent (post‐inflation) revenue of INR 580 mn per annumImplemented greenhouse conceptDBFOT arrangement for 25 years (extendable by 10 years)
Terminal value 60 months of revenue (after 25 years of concession period)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 16
PROJECT TWO: PATRAN, PUNJAB400 kV transmission system
Comprises LILO of both circuits
1,000 MVA evacuation capacity
INR 2000 mn projectBuild, Own, Operate and Maintain (BOOM) transmission networkImplementing company acquired by TEECL from PFC Consulting Designing, constructing, erecting, completing and commissioning responsibilityINR 1750 mn to TEECL EPC arm and expected revenue to O&M agency (TEECL) ofINR 20 mn annuallyProjected INR 10,000 mn income over the complete concession period of 35 yearsFinancial closure achieved at competitive rates; commissioning by May 2016Derived rich O&M experience from Jhajjar KT Project
Patiala‐Kaithal 400 kV double circuit triple snow bird line at Patran (5 kilometres)
400/220kV substation with 14 bays in Patran
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 17
Projected portfolio of3‐4 projects, 2017
Execute 1‐2 project
annually
From 20% of EPC orders from PPP projects in 2012 to 10% in 2015 to 25‐30% (est.) by 2017
Generate increasing insourcing of EPC contracts
Increased competitiveness is translating into project selectivity
(high IRR)
Increasing expertise and focus in setting up substations
Diversified incomes; annuity and upfront fees
Building efficient evacuation facilities for the nation
ROAD FORWARD
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 18
Transmission and distribution
Power generation Industrial sector (including
power intensive industries, aluminium smelter, refineries)
Turnkey solutions to captive power plants
Balance of Plant
EHV substations
•EHV substations up to 765 kV
•STATCOM installation upto250 MVaR
Distribution
•Distribution systems management (APDRP)
•Rajiv Gandhi GraminVidyutikaran Yojna(RGGVY)
• Power distribution systems to power intensive industries
• Offsite piping systems
• Naphtha and diesel system for turbine based power plant
• Oil handling plant for power station and process industries
• Water and allied systems
• Fire protection systems
• Plant electrical and illumination systems
OUR ENGINEERING, PROCUREMENT AND CONSTRUCTION (EPC) SERVICES BUSINESS2
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 19
Techno’s EPC competitiveness
Promoter‐driven for 35 years
Three‐decade experience (including BOP packages)
Respected for project management, timeliness, completion and cost‐effectiveness
Management of customer expectations and contractual obligations
Respected for graduating to next technology and embracing challenges
Robust vendor eco‐system
Pioneered power distribution solutions for aluminium smelters (360 kA busbar systems, 2013)
Quicker project completion than industry standard
60% share of 765 kV EhV substation segment
Efficient working capital management
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 20
Techno’s operating philosophy
Focus on PAT/retained cash (not size of order book)
Cash rich; high liquidity; low gearing; income mix (lumpy and annuity)
Project execution synced with project cash cycle; zero penalty record; realized retention money within 6 months of project completion
Marginal working capital outlay
De‐risked: bid with own cash; work for CPSUs or bilaterally/multi‐laterally funded SEB projects
Conservative accounting policy
82‐day receivables, quicker than industry standard
Quality assets for national benefit
No‐penalty record
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 21
Core business
84% of overall FY15
revenues
80.4% ROCE businessas on 31 March,
2015
Order book
INR 19050 mn
(as on 31 Dec, 2015)
Revenue visibility of
24months
Annual cash surplus of more than
INR 700 mnfrom EPC
Currently receivables
82 daysof turnover;
industry’s lowest
Selective project bidding
High growthfor three years
Clients Power Grid, BHEL, Indian Oil, NTPC, Reliance, Vedanta, NTPC, Hindalco, GE among others
Well‐planned projects executed in sync with cash flow and contractual obligations
Conservative accounting treatment
Timely projects closure and retention money inflow
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 22
TECHNO’S EPC ORDER BOOKSegment ‐ wise order book as 31 Dec, 2015
As on 31 Mar, 2013
INR
10000million
As on 31 Mar, 2014
INR
12000million
INR
19050million
As on 31 Dec, 2015
GenerationINR 2,435 million
TransmissionINR 13,790 million
DistributionINR 2,825 million
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 23
ORDER BOOK – 31 st December, 2015
Name of the client Amount %
Power Grid Corporation Ltd. 8,900 46.72
North Bihar Power Distribution Co Ltd 2,825 14.83
NTPC Ltd. 2,130 11.18
Rajasthan Rajya Vidyut Prasaran Nigam Ltd. 1,545 8.11
Bihar State Electricity Board 1,510 7.93
Patran Transmission Co Ltd 780 4.09
APTRANSCO 505 2.65
Meja Urja Nigam Ltd 320 1.68
Others 535 2.81Total 19050 100.00
(INR in mn.)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 24TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 24
TECHNO’S IMPRESSIVE CLIENTELEHelped build 50% of India’s National power gridHistorically engaged with more than 50% NTPC projects (various capacities)Multi‐year engagements with Power Grid Corporation, BHEL, Indian Oil, NTPC and HindalcoAssociated with power distribution solutions for major oil refineries (Bina, Paradip, Bhatinda, Panipat among others) and aluminium smelters (Hindalco, Nalco among others)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 25
EPC FINANCIALS 3MDec15 3MDec14 Change
(%age)9MDec15 9MDec14 Change
(%age)
Revenue 3,128.1 1,582.2 97.7 6,924.3 4,514.3 53.4
Operating Exp 2,785.7 1,380.9 6,024.8 3,919.4
EBIDTA 342.3 201.4 67.6 899.5 594.3 51.2
EBIDTA (%) 10.9 12.7 13.0 13.2
ROCE –Annualised (%)
101.3 59.0 88.5 63.1
(INR in mn.)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 26
EPC FINANCIALS2010‐11 2011‐12 2012‐13 2013‐14 2014‐15
Revenue 6,488.20 7,040.50 5,158.90 5,705.10 6,680.90EBIDTA 1,006.40 1,081.20 572.90 601.60 938.30PAT 736.20 828.50 392.10 500.50 662.60Cash surplus 744.60 836.70 400.20 509.60 675.40ROCE (%) 89.70 90.40 52.50 62.40 80.50
(INR in mn.)
Increasing order book 25‐30% in the
next 2‐3 years (external and
captive)
Growing EPC business 25‐30% annually till 2017
• Leveraging transmission expertise
• Focusing on high‐value, high IRR projects
• Building India’s national grid; reducing power deficit
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 27
EPC – ROAD FORWARDGREEN ENERGY CORRIDOR
Government plans to roll out green energy corridor’ project at an estimatedcost of INR 430 bn to facilitate the flow of renewable energy into thenational grid.
Techno was amongst the first few companies to get order worth INR 3700mn for substation package at Chittorgarh, Tuticorin & Ajmer associated withGreen Energy Corridors : Inter‐State Transmission Scheme (ISTS) – Part A.
Germany has committed developmental and technical assistance of €1billion for the project through their financial body, KFW.
Techno is hopeful of getting more orders under Green Energy Corridorproject
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 28
EPC – EMERGING OPPORTUNITIES
STATCOM INSTALLATION
Government plans to install 50 nos of STATCOM having a total investment ofINR 80 bn over a period of 3‐5 years.
Techno won the first STATCOM installation at 400 kV substation at Solapur,Satna & Aurangabad in joint biding with Chinese Company RONGXIN.Techno’s scope of work is worth INR 2680 mn.
Techno being the pioneer in installation of STATCOM will have first moveradvantage.
SUB TRANSMISSION SYSTEM IN NORTH EASTERN STATES
PGCIL has been given mandate to build sub transmission systems of 220/132kV in 6 North East States at an estimated investment of INR 150 bn over aperiod of 3 years.
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 29
OUTLOOKWind power 8.5% of India’s power capacity
6000‐8000 MW to be commissioned annually
21,136.40 MW installed capacity
Targeted 100 GW capacity (2022, National Wind Energy Mission)
RENEWABLE ENERGY GENERATION3
GOVERNMENT ROLEIndia first to commission a Ministry of Non‐Conventional Energy Resources (early 1980s)
Wind energy exceeded 10th Plan (2002‐2007) and 11th Plan (2007‐2012) targets
MNRE reference capacity addition target 15,000 MW, realistic target 20,000 MW and aspirational target 25,000 MW for the 12th Five Year Plan
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 30
GOVERNMENT CATALYSTSRENEWABLE ENERGY CERTIFICATES1000 units of green electricity sold generates one REC which can be sold in the Power Exchange with a floor price of INR 1,500 and forbearance price of INR 3,300
TECHNO SOLD 77,000 RECs IN 2014‐15 AT AN AVERAGE REALIZATION OF Rs 1,500 EACH
TECHNO HAD A TOTAL OF INR 85 mn INFY 2014‐15 ATTRIBUTABLE TO GBI
GENERATION‐BASED INCENTIVES INR 0.5/unit produced available to wind power producers over base tariff upto a maximum of INR 6.2 mn/MW upto a period 10 years from commercial operations
CLEAN DEVELOPMENT MECHANISM INCENTIVESProjects in developing countries can earn Certified Emission Reduction credits (CERs) which can be sold to developed countries to meet their emission reduction targets
TECHNO IS ENTITLED TO 325,000 CERs ANNUALLY
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 31
CURRENT ASSET OVERVIEW
Sold 44.45 MW of wind power assets at an effective valuation of INR 2150 mn during the current financial year.
Exited the assets at the same price at which investment was made.
Intend to divest balance portfolio of 162.9 MW wind assets to improve strength for bidding more PPP projects in transmission sector, improve ROCE & focus on EPC, that is our core‐competency.
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 32
CURRENT ASSET OVERVIEWTechno Electric Simran Wind Project Limited
Capacity 45 MW 6 MW 111.90 MW
Date of Acquisition/Commissioning
During 2009‐10 During 2009‐10 March 31, 2011 ‐ February 24, 2012
Location Karnataka (12 MW) and Tamil Nadu (33 MW)
Karnataka Tamil Nadu (111.90 MW)
No. of turbines 30 turbines at 3 wind farms 4 turbines at 2 wind farms 67 turbines at 2 wind farms
Capacity 30 turbines * 1.5 MW each 4 turbines * 1.5 MW each 48 turbines * 1.5 MW each19 turbines * 2.1 MW each
PLF 18% ‐ 26% 19% ‐ 26% 19% ‐ 26%
Tariff INR 3.40 (Karnataka) and INR 3.39 (Tamil Nadu)
Preferential tariff –INR 3.40
APPC tariff – INR 2.63 (TN) for 111.90 MW
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 33
Techno Electric Simran Wind Project Limited
Capacity 45 MW 6 MW 111.90 MW
Project cost – – INR 6650 mn*
O&M Free for first 5 years; 5% escalation from INR 1 mn/MW
Free for first 5 years; 5% escalation from INR 1 mn/MW
Free for first 4.5 years; 5% escalation from INR 1 mn/MW
CDM benefit 33 MW registered with UNFCC
‐ 111.9 MW registered with UNFCC
GBI benefit ‐ ‐ 111.9 MW registered with IREDA
*IFC invested 3.38% in Simran Wind Project Ltd. for $5 million at INR 40/share in lieu of 5,625,000 equity shares; Project debt of $85 mn (INR 4165 mn) raised at average 6.5% from IFC, DBS and Standard Chartered Bank. One of the longest (10.5 years) non‐recourse project financing undertaken for a wind energy project in India (without credit guarantees or credit insurance)
(Contd.)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 34
GREEN ENERGY FINANCIALS3MDec15 3MDec14 Change
(%age)9MDec15 9MDec14 Change
(%age)
Revenue 38.7 219.9 (82.4) 788.0 1,218.1 (35.3)
Operating Exp 11.4 39.3 51.2 125.2
EBIDTA 27.3 180.6 (84.9) 736.8 1092.9 (32.6)
EBIDTA (%) 70.6 82.1 93.5 89.7
ROCE –Annualised (%)
6.44 12.15 5.9 6.8
(INR in mn.)
Financials of current year are not comparable with previous year as 44.45 MW of Wind Mills have been sold during the current financial year.
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 35
GREEN ENERGY FINANCIALS2010‐11 2011‐12 2012‐13 2013‐14 2014‐15
Revenue 677.90 1,158.20 1,842.40 1,379.80 1258.10
EBIDTA 646.00 1,115.20 1,773.40 1,323.60 1143.20
PAT 106.70 194.50 635.20 338.00 283.30
Cash generated 406.00 746.80 1,282.10 995.40 873.70
ROCE (%) 6.30 7.10 10.00 6.50 7.00
Units generated (in mn)
202.53 291.28 471.89 344.60 300.44
Realisation/unit (INR)
3.35 3.98 3.90 4.00 4.19
(INR in mn.)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 36
Consolidated revenue, EBIDTA, Profit after Tax and Earning Per Share
0.00
1,000.00
2,000.00
3,000.00
2010‐11 2011‐12 2012‐13 2013‐14 2014‐15
1,937.202,421.00 2,552.10
2,045.20 2282.5
EBIDTA (Rs/mln)
0.00
500.00
1,000.00
1,500.00
2010‐11 2011‐12 2012‐13 2013‐14 2014‐15
1,127.80 1,216.10 1,224.50
886.6 1062.7
Profit after Tax (Rs/mln)
0
10
20
30
2010‐11 2011‐12 2012‐13 2013‐142014‐15
19.8 21.2 21.1
15.3 18.4
Earning per Share (Rs)
6,000.006,500.007,000.007,500.008,000.008,500.00
2010‐11 2011‐12 2012‐13 2013‐14 2014‐15
7,166.10
8,198.70
7,001.30 7,084.90
7938.9
Revenues (Rs/mln)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 37
Ratios**
* Company dividend payout policy‐at least 20% of PAT
** Ratios are calculated based on consolidated figures
0
10
20 15.7 14.8 17.512.5 13.4
PAT Margin (%)
0
10
2019.3 17.7 19.6
13 15.7
PBT Margin (%)
0
20
40 27 29.5 36.528.9 28.8
EBIDTA margin (with otherIncome)(%)
0
100
20098.5 117.3 134.9 146.6 160.2
Book Value per Share (Rs)
0
20
4010.1 14.2 14.2 19.6 21.7
Dividend Payout Ratio *
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 38
Consolidated Income Statement
2010‐11 2011‐12 2012‐13 2013‐14 2014‐15
Revenues 7,166.10 8,198.63 7,001.25 7,084.85 7,938.93
Growth % 2.07 14.41 (14.60) 1.19 12.05
Operating expenses 5,513.70 6,002.30 4,655.10 5,159.60 5,857.60
Other income 284.84 224.63 205.87 119.91 202.36
EBIDTA 1,937.20 2,420.95 2,552.06 2,045.23 2,282.52
EBIDTA % 27.03 29.53 36.45 28.87 28.75
Depreciation 307.60 560.51 654.93 666.54 603.21
Interest 249.48 411.48 521.72 454.39 431.32
PBT 1,380.08 1,448.96 1,375.41 924.30 1,247.99
PBT % 19.26 17.67 19.65 13.05 15.72
Taxes 252.26 232.98 151.01 37.62 185.30
PAT 1,127.82 1,215.98 1,224.40 886.68 1062.69
PAT % 15.74 14.83 17.49 12.52 13.39
CONSOLIDATED FINANCIALS(INR mn)
Both Techno Electric and Simran Wind are under MAT
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 39
Consolidated Balance Sheet
March 31, 2011
March 31, 2012 March 31, 2013
March 31, 2014 March 31, 2015
SOURCES OF FUNDS
Shareholders’ funds 5,622 6,696 7,700 8,371 9,147
Minority interest ‐ 167 188 193 199
Loan funds 521 4,164 5,172 4,785 3,967
Deferred tax liabilities 6 7 7 9 7
Other liabilities and provisions 1,464 1,070 844 513 185
Total 7,600 12,104 13,910 13,871 13,505
APPLICATION OF FUNDS
Net fixed assets 8,615 11,506 11,036 10,728 10,248
Investments 384 384 384 384 380
Loans and advances 1,148 109 233 297 367
Current assets (a) 3,150 3,910 5,281 5,088 5,820
Current liabilities (b) 5,684 3,805 3,024 2,626 3,310
Net current assets (a – b) (2,534) 105 2,257 2,462 2,510
Total 7,613 12,104 13,910 13,871 13,505
CONSOLIDATED FINANCIALS(INR mn)
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 40
9M FY 16 FINANCIALSSTANDALONE CONSOLIDATED
Dec 2015 Dec 2014 Change (%age)
Dec 2015 Dec 2014 Change (%age)
Revenues 7,101.1 4,708.7 50.8 7,712.2 5,727.6 34.6Operating expenses 6,030.8 3,949.6 6,065.9 4,035.4
EBIDTA 1,070.3 759.1 41.0 1,646.3 1,692.2 (2.7)EBIDTA (%) 15.1 16.1 21.3 29.5Other income 83.0 169.2 512.6 110.9Depreciation 101.6 115.9 354.6 518.3Interest 93.6 129.0 271.8 333.4PBT 958.1 683.4 40.2 1,532.5 951.4 61.1PBT (%) 13.5 14.5 19.9 16.6Taxes 206.5 113.8 410.7 113.8PAT 751.6 569.6 32.0 1,121.8 837.6 33.9PAT (%) 10.6 12.1 14.5 14.6
TECHNO ELECTRIC & ENGINEERING COMPANY LIMITED 41
THANK YOU!
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