Td Power Systems Limited · NSE:TDPOWERSYS
Td Power Systems — Q4 2012 Earnings Presentation
30 slides from Td Power Systems's earnings presentation, Mar 31, 2012
Slide 1: Investor Presentation Q4 & FY2012
INVESTOR PRESENTATION Q4 & FY2012
Slide 2: Safe Harbor
Safe Harbor Certain statements in this document may be forward-looking statements. Such forward- looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ m
Slide 3: Table of Contents
Table of Contents Overview Business Manufacturing Facilities Management Financial Performance
Slide 4: Overview
Overview
Slide 5: Overview
Overview Leading manufacturer of custom-designed AC generators for a diverse range of prime movers, addressing the growing industrial demand for captive power projects Technology alliances with several leading global power equipment OEMs; demonstrated abilities in technology absorption, product deve
Slide 6: Shareholding Structure
Shareholding Structure Shareholding % TDPS stock price movement As on March 31, 2012 Key Institutional Shareholding Sequoia 5.7% India Value Fund 3.7% Capital 3.6% Barings PE 2.4% IDFC MF 2.3%
Slide 7: Milestones
Milestones 2012 IPO of TDPS 2011 License agreement with Siemens AG to manufacture industrial generators up to 200 MW Successfully tested 25 MW vertical hydro generator 2010 Agreement with Voith Hydro Holding GmbH for jointly developing electrical generators 2009 Manufacturing Agreement with Toshiba
Slide 8: Business
Business
Slide 9: Business Structure
Business Structure Manufacturer of AC Generators (Currently manufacturing up to 52 MW, expanding portfolio up to 200 MW) o Diversified portfolio customized for a wide range of turbines (steam, gas, hydro and wind) and engines (diesel and gas) o Since inception, manufactured 1,759 generators, includi
Slide 10: Growth Strategies
Growth Strategies • Maintain pipeline of upgradations and new, value-added products Enhance Product • Develop new, innovative designs to deliver cost reductions Portfolio • Addressing emerging demand, leveraging economies of scale Expand • Consolidate global coverage in India, Middle East, Africa an
Slide 11: Technology/Production Agreements
Technology/Production Agreements Siemens AG, Sicme Motori General Electric Germany SrL, Italy Corporation, USA Production technology transfer TDPS granted a limited license to agreement in 2008 to manufacture manufacture generators using TDPS’ License agreement in 2007 to wind turbine-based generato
Slide 12: Customer Relationships
Customer Relationships Significant business from repeat customers in key process industries – cement, steel, sugar, paper
Slide 13: Manufacturing Facilities
Slide 14: Manufacturing Facilities
Manufacturing Facilities • 157,624 sft built-up on 6.25 acres Unit 1 • Captive power – 4,280 kVA • Core Building • Coil making • Winding • Impregnation and curing Two • Balancing Manufacturing • Final assembly and testing Units near • Material Handling • Power Bangalore • Quality lab & Instruments U
Slide 15: Manufacturing Facilities
Manufacturing Facilities Hydraulic press for stator core pressing Horizontal vacuum pressure impregnation plant for stator High precision brazing set up for rotor coils Dynamic balancing machine for rotor balancing
Slide 16: Management
Management
Slide 17: Board of Directors
Board of Directors • Over 40 years in capital • 45 years in design, • Over 20 years in • Over 45 years in power structuring, financial engineering and sales of electrical/power equipment equipment, manufacturing management and power plants and equipment manufacturing and quality control investment b
Slide 18: Organizational Structure
Organizational Structure Board of Directors Hitoshi Matsuo Nikhil Kumar Tadao Kuwashima Managing Director Joint Managing Director Director K.G. Prabhakar Chief N. Srivatsa G.S. Raju Financial Officer Company Secretary Chief Executive Officer - EPC M.K. Harish B.C. S. Prabhamani Manjunath S.V. Ravish
Slide 19: Financial Performance
Slide 20: Joint Managing Director's Message
Joint Managing Director’s Message “I am pleased to present TD Power Systems’ FY12 financial performance. We have grown revenues by 19% and profit by 16% in an operating environment that remains extremely uncertain. Indian companies continue to defer their expansion plans impacting our business that
Slide 21: Financials - FY2012
Financials - FY2012 (` million) Y-on-Y Y-on-Y Particulars Q4FY12 Q4FY11 FY12 FY11 Change Change Total Income 2,905 3,130 -7.2% 10,316 8,637 +19.4% EBITDA 345 425 -18.9% 1,143 1,003 +13.9% Margins (%) 11.6% 13.6% 10.8% 11.5% Depreciation 24 19 +26.7% 91 80 +13.7% Interest 10 17 -41.1% 66 67 -1.8% PBT
Slide 22: Order Book Details
Order Book Details As on March 31, 2012 278 Order Book – Projects business ` 1,131 million Export 853 Domestic 1,261 1,478 Order Book – EPC business ` 1,478 million 3,720 Order Book ` 4,981 million 983 Order Book – Manufacturing 1,389 ` 2,372 million
Slide 23: Revenue Analysis – FY2012
Revenue Analysis – FY2012 * Prior to inter-segment and inter-company eliminations 1,240 Export Manufacturing Revenues* 2,874 ` 4,114 million Domestic 1,495 Total Revenues* ` 1,0901 million EPC Business Revenues 4,166 ` 4,166 million 9,406 255 Projects Business Revenues ` 2,621 million 2,366
Slide 24: Business Segments – Manufacturing
Business Segments – Manufacturing Product-wise sales (%) Key end user industries (%) 1.1% 0.0% 2.5% 0.6% 0.0% 5.4% 8.1% 9.7% 6.21% 6.9% 0.8% 0.0% 0.0% 2.39% 3.2% 10.2% 9.7% 19.9% 8.1% Others 21.4% Others 19.70% 41.5% 35.1% 46.5% Diesel Metal 20.0% 60.8% Wind 19.32% Hydro 13.2% 19.9% 10.8% 81.1% 81.3
Slide 25: Business Segments – Power Projects
Business Segments – Power Projects Business highlights TG Projects for steam turbine power plants with output capacity of up to 52 MW done under TD Power Systems Ltd DF Power Systems Pvt Ltd, a wholly owned subsidiary, executes EPC projects which include BTG island project and BOP portion (exclu
Slide 26: Financial Track Record
Financial Track Record Segmental Revenues Consolidated (Rs Mn) Consolidated 4,166 38% 3,758 3,046 40% 42% - 273 2,621 5% 1,643 24% 3,097 2,534 1,783 23% 19% 58% 50% 3,480 4,115 2,228 2,253 2,763 36% 39% 38% 42% 45% FY08 FY09 FY10 FY11 FY12 Manufacturing Projects business EPC Segmental EBITDA Consoli
Slide 27: Key Financials & Ratios
Key Financials & Ratios Strong Growth in Revenues… …With Robust EBITDA Margins Rs Mn Rs Mn 1,000 10.4% 8.9% 12.0% 12,000 10.2% 9.7% 10,000 800 894 919 10.0% 10,316 8,000 10.2% 8.0% 8,637 600 718 6,000 7,382 6.0% 538 508 5,290 400 4,000 4,961 4.0% 2,000 200 2.0% - - 0.0% FY08 FY09 FY10 FY11 FY12 FY08
Slide 28: P&L Snapshot
P&L Snapshot Consolidated Rs Mn FY08 FY09 FY10 FY11 FY12 Sales 5,290 4,961 7,382 8,637 10,316 EBITDA 538 508 718 894 919 Depreciation (incl. Amortization) 25 33 57 80 91 EBIT 512 476 662 814 827 Other Income 43 105 72 109 224 Interest and Finance Charges 15 26 42 67 66 PBT 535 554 691 856 986 Tax 18
Slide 29: Balance Sheet Snapshot
Balance Sheet Snapshot Consolidated As on Rs Mn Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Source of Funds 867 1,276 2,115 2,800 5,107 Net Worth 616 949 1,318 1,873 4,675 Minority Interest - 2 44 Borrowings 229 287 682 856 346 Deferred Tax Liability 21 38 70 72 85 Uses of Funds 867 1,276 2,115 2,800 5,107 G
Slide 30: For further information, please contact:
For further information, please contact: Ravishankar M K / M N Varalakshmi Shiv Muttoo / Rabindra Basu T D Power Systems Citigate Dewe Rogerson Tel: +91 80 2201 7800 / +91 80 2299 5700 Tel: +91 22 6645 1207 / 1248 Fax: +91 80 2201 7850 Fax: +91 22 6645 1213 Email: [email protected] Email