TD Power Systems Limited · NSE:TDPOWERSYS
TD Power Systems — Q1 FY2013 Earnings Presentation
30 slides from TD Power Systems's earnings presentation, 2012
Slide 1: Investor Presentation Q1 FY2013
INVESTOR PRESENTATION Q1 FY2013
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 1,811 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’ Q1 FY13 financial performance. Total income has declined by 20%, PAT has grown by 16% with higher contribution from interest income and foreign exchange variation. Q1 performance highlights the weak demand outlook for capex
Slide 21: Financials – Q1FY2013
Financials – Q1FY2013 (` million) Y-on-Y Particulars Q1FY13 Q1FY12 FY12 Change Total Income 1,660 2,064 -19.6% 10,316 EBITDA 265 242 +9.91% 1,143 Margins (%) 16.0% 11.7% 10.8% Depreciation 26.3 21.2 +23.9% 91 Interest 8.1 23.2 -65.2% 66 PBT 231.1 197.1 +17.3% 986 Tax 86.2 71.9 326 PAT 144.9 125.2 +1
Slide 22: Order Book Details
Order Book Details As on June 30, 2012 491 Export Domestic 41% Order Book – Projects business 722 59% ` 1,204 million 1,204 27% - Order Book – EPC business ` 1,040 million 3,233 1,040 73% 100% Total Order Book 712 ` 4,428 million 33% Order Book – Manufacturing 1,472 ` 2,184 million 67%
Slide 23: Revenue Analysis – Q1FY2013
Revenue Analysis – Q1FY2013 * Prior to inter-segment and inter-company eliminations Total Revenues* 399 43% ` 1,786 million 524 Manufacturing Revenues* 57% ` 923 million Domestic Exports 0 0% 635 EPC Business Revenues 36% ` 450 million 1,151 450 100% 64% 111 27% Projects Business Revenues ` 413 mill
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 3,758 3,046 2,621 273 1,643 5% 1,783 40% 42% 38% 25% 2,534 50% 23% 19% 4,115 24% 23% 3,480 450 2,253 2,763 413 45% 36% 39% 38% 923 52% FY09 FY10 FY11 FY12 FY13 Q1 Manufacturing Projects business EPC Segmental EBITDA Co
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 FY09 FY10 FY11 FY12 FY13Q1 Sales 4,961 7,382 8,637 10,316 1,532 EBITDA 508 718 894 919 138 Depreciation (incl. Amortization) 33 57 80 91 26 EBIT 476 662 814 827 112 Other Income 105 72 109 224 128 Interest and Finance Charges 26 42 67 66 8 PBT 554 691 856 986 231 Tax
Slide 29: Balance Sheet Snapshot
Balance Sheet Snapshot Consolidated As on Rs Mn Mar-09 Mar-10 Mar-11 Mar-12 Jun-12 Source of Funds 1,276 2,115 2,800 5,035 5,238 Net Worth 949 1,318 1,873 4,603 4,748 Minority Interest 2 44 Borrowings 287 682 856 346 393 Deferred Tax Liability 38 70 72 85 97 Uses of Funds 1,276 2,115 2,800 5,035 5,2
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: investor.relations@tdps.co.in Email