TD Power Systems Limited (533553) Q4 11/12 earnings summary

Executive summary

• FY12 standalone revenue from operations rose 28.15% YoY to Rs.62,521.20 lakh; standalone PAT increased 19.64% to Rs.4,981.81 lakh.

• Consolidated total income reached Rs.105,401.78 lakh and PAT Rs.6,594.13 lakh; EPS was Rs.22.42.

• Exports rose 217% to Rs.14,953.66 lakh; order inflow increased 12.27% to Rs.52,203.12 lakh, while 308 generators were manufactured.

Financial highlights

• Standalone total income increased 29.52% YoY to Rs.64,089.41 lakh; PBT rose 17.79% to Rs.7,382.59 lakh.

• Consolidated net sales grew 19.44% to Rs.103,162.54 lakh; total income rose 20.50% to Rs.105,401.78 lakh.

• Consolidated PBT increased 15.17% to Rs.9,856.73 lakh; PAT rose to Rs.6,594.13 lakh from Rs.5,665.54 lakh.

• Standalone capex was Rs.2,757.97 lakh in FY12, primarily for manufacturing expansion, machinery and equipment.

Outlook and guidance

• Management aimed to sustain FY12 operating performance in FY13, despite weak investment conditions and a materially lower order book versus FY12.

• Gas-engine and wind-generator prototypes were progressing through evaluation; bulk orders were expected in Q3 or Q4, subject to testing and customer evaluation.

• Projects and EPC orders had been secured, with customer advances pending financial closure; timely receipt remained a condition for execution.

• Planned investment continued in generators below 15 MW and was proposed for 54–200 MW two-pole generators.