GE Power India (532309) Q4 10/11 earnings summary

Executive summary

• FY2010/11 revenue was Rs. 18,036 million, down from Rs. 20,427 million; profit after tax rose to Rs. 1,689 million from Rs. 1,673 million. EPS increased to Rs. 25.20 from Rs. 24.95.

• Orders received increased 51.8% YoY to Rs. 41,698 million; year-end orders in hand were Rs. 57,728 million, up from Rs. 34,066 million.

Financial highlights

• Net sales and services were Rs. 18,036.373 million vs. Rs. 20,427.251 million; profit before tax was Rs. 2,540.820 million vs. Rs. 2,483.103 million.

• Net income was Rs. 1,689.020 million vs. Rs. 1,672.506 million; diluted EPS was Rs. 25.20 vs. Rs. 24.95.

• Other income increased to Rs. 543.405 million from Rs. 401.192 million, including Rs. 387.284 million interest income vs. Rs. 156.025 million.

Outlook and guidance

• Power equipment demand was expected to grow under the XIIth Five Year Plan, with coal-fired generation and supercritical technology leading; nuclear, hydro and renewable opportunities were also anticipated.

• Transport opportunities included Delhi Metro Phase 3, projects in new cities and Train Protection Warning System tenders; large Indian Railways rolling-stock projects were expected to be finalised soon.

• The Bangalore Transport Information Solutions Engineering and Development centre was being expanded to serve Indian and global markets.