GE T&D India Limited has informed the Exchange regarding Investor Presentation - Further to our letter dated February 6, 2020, enclosed please find a copy of the analyst presentation in respect of ear...
GE T&D India Limited L31 I02DL1957PLC193993
T-5 & T-6. Plot 1-14, Axis House Jaypee Wishtown, Sector-128 Noida-201304, Uttar Pradesh
T +91 120 5021500 F +91 120 5021501 www.ge.com/in/ge-td-india-timitec
The Manager Listing Department National Stock Exchange of India Ltd Exchange Plaza, Bandra Kurla Complex, Bandra (East)
MUMBAI 400 051
Symbol: GET&D
February 11, 2020
The Secretary BSE Limited
Phiroze Jeejeebhoy Towers DalaI Street
MUMBAI 400 001
Code No. 522275
Dear Sir,
Sub: Analyst Presentation
Further to our letter dated February 6, 2020, enclosed please find a copy of the analyst
presentation in respect of earnings conference call with analysts/ institutional investors.
You are requested to take note of the same.
Thanking you,
Yours faithfully,
For GE T&D India Limited
Manoj Prasad Singh Company Secretary
Regd Office: A 18. First noor. FIEE Complex. OMb Indushal Area. Phase II. New Delhi - 11CX)20 tlndiai. T +91 11 41610660 F +91 11 41610659
GE T&D India Limited
Financial results for the quarter ended Dec 2019
February 11, 2020
Confidential. Not to be copied, distributed, or reproduced without prior approval.
Disclaimer
This presentation has been prepared solely for the use at analyst/ investor presentation. By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations-
• The forward-looking information and statements can generally be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use terminology such as “targets”, “believes”, “expects”, “aims”, “assumes”, “intends”, “plans”, “seeks”, “will”, “may”, “anticipates”, “would”, “could”, “continues”, “estimate”, “milestone” or other words of similar meaning and similar expressions or the negatives thereof. GE T&D India Limited cannot give assurance to the correctness of such information and statements.
• By their nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company's actual financial condition or results of operations could differ materially from that or those described herein as anticipated, believed, estimated or expected
• Given the aforementioned uncertainties, prospective or present investors are cautioned not to place undue reliance on any of these forward looking
statements
• No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or
commitment or investments decision whatsoever. Investor/prospective advisors must be sought on specific situation from well-informed legal, investment, tax, financial, and management professionals
• This presentation and its contents are confidential and must not be distributed, published or reproduced. This presentation does not constitute a
recommendation regarding the securities of the Company.
GETDIL _ Investor Call _ Feb’2020
Confidential. Not to be copied, distributed, or reproduced without prior approval.
February 11, 2020
2
Key Events of the Quarter
Market: Key opportunities driven by
• •
Finalisation of TBCB Packages on developers and from developers to EPC players Evacuation of power from large renewable projects
Q3 19-20 : Highlights
• Order booking at 12.5 BINR during Q3, 2019-20 vs 6.9 BINR during Q2, 2019-20 • Operating cash flow generation leading to reduction of net borrowings by 940 MINR during the quarter • • •
40 + Bays commissioned during quarter Lower Volume … HVDC ramp down, Customer project delays, Lower order intake Profitability impacted by : Lower Volumes, Projects Mix & delays, ILFS Provision
Challenges
• •
Aggressive Competition and non linear project decisions Liquidity stress in the market delaying project execution
Priorities
• Operational excellence and execution … Leverage LEAN + Cost efficiencies • Drive Improvements in working capital
GETDIL _ Investor Call _ Feb’2020
Confidential. Not to be copied, distributed, or reproduced without prior approval.
February 11, 2020
3
Key Execution during 3rd Quarter of 2019-20
400 kV and 220 kV AIS bays for Power Grid Corporation of India Limited at Bhuj, Gujarat
220 kV AIS with 160 MVA and 50 MVA Transformers at Rejinagar for West Bengal State Electricity Transmission Company Limited (WBSETC)
400/ 220/ 66kV GIS Substation at Wangtoo for H.P. Power Transmission Corporation Limited
400/220 kV GIS substations at Prithala, Haryana for Sterlite Power
220 kV AIS Substation for at Motipur for Bihar State Power Transmission Company Ltd
400/220 kV AIS Bay extension at Bibiyana South, Bangladesh for L&T Power
400 kV Inter Connected Transformer (ICT) and 132 kV GIS Substation for Mangdechhu Hydroelectric Project Authority Bhutan
….Commissioned many important projects during the Quarter
GETDIL _ Investor Call _ Feb’2020
Confidential. Not to be copied, distributed, or reproduced without prior approval.
February 11, 2020
4
Key Orders
Customer
Project
Sterlite
JKPDD
PGCIL
Adani
TBCB - Extension of 765 kV GIS at Vadodara and 765 kV AIS at Lakadia in Gujarat
SCADA/ADMS project for the distribution operations in J&K
TBCB - 765 kV GIS bays at Phagi in Jaipur for Solar Parks energy evacuation
TBCB - 765 AIS at Khetri, Rajasthan & 765 kV Reactors at Banaskantha, Gujarat
Azure Power
Rajasthan- 600MW Solar Project-ISTS- 400KV AIS Switchyard
Avaada Power
400 kV AIS Substation and Transformers at Bikaner for Solar Plant
UPPTCL
RT-DAS of 633 Towns consisting of 1754 Substations across 5 DISCOMs across state for SAIDI/SAIFI index monitoring and improvement at 33/11kv S/S under R-RARDP and (IPDS).
Success in Orders driven by Automation, TBCB & Renewable Space
GETDIL _ Investor Call _ Feb’2020
Confidential. Not to be copied, distributed, or reproduced without prior approval.
February 11, 2020
5
Order Intake
(₹ in millions)
Orders Q3 19-20
Orders 9M 19-20
₹ 27,768
₹ 14,415
₹ 23,617
Q3,18-19
Q3,19-20
₹ 12,538
₹ 7,234
Q2,18-19
Q2,19-20
₹ 6,902
Q1,18-19
₹ 6,119
Q1,19-20
9M' 18-19
₹ 4,177
9M' 19-20
₹ 14,414
₹ 12,538
3M Dec 18-19
3M Dec 19-20
…Power market size stable. Order backlog at 59.6 BINR ( > 1.5 Years Revenue)
GETDIL _ Investor Call _ Feb’2020
Confidential. Not to be copied, distributed, or reproduced without prior approval.
February 11, 2020
6
Sales Execution
(₹ in millions)
Sales Q3 19-20
Sales 9M 19-20
₹ 11,678 ₹ 838
₹ 10,840
CKL-1/2
₹ 9,398 ₹ 186
₹ 9,212
₹ 33,235 ₹ 2,361
₹ 30,874
CKL-1/2
₹ 24,945 ₹ 619
₹ 24,326
Q3' 18-19
Q3' 19-20
9M' 18-19
9M' 19-20
… Sales revenue impacted by HVDC ramp down, Customer project delays, Lower order intake
GETDIL _ Investor Call _ Feb’2020
Confidential. Not to be copied, distributed, or reproduced without prior approval.
February 11, 2020
7
Profit before tax
(₹ in millions)
PBT Q3 19-20
PBT 9M 19-20
₹ 880
Q3’ 18-19
Q3’ 19-20
-₹ 498
₹ 2,944
9M’ 18-19
Exceptional Items ( Asset Impairment)
9M’ 19-20
-₹ 674
-₹ 536
-
₹ 1,210
… Q3 & 9M Profit impacted by Lower Volumes, Projects Mix & delays, ILFS Provision
GETDIL _ Investor Call _ Feb’2020
Confidential. Not to be copied, distributed, or reproduced without prior approval.
February 11, 2020
8
Key Data : 3rd quarter & 9 Months ended 31st Dec’2019
(₹ in millions)
Q3 2019-20
Q3
2018-19 Change
9M 2019-20
9M 2018-19
Change
Sales Revenue
9,398
11,678
-20%
24,945
33,235
-25%
Operating Profit % of Sales
(311) -3.3%
1,021 8.7% -12.0 pts
Profit Before Tax % of Sales (Before exceptional items )
(498) -5.3%
880 7.5% -12.8 pts
(150) -0.6%
(674) -2.7%
3,382 10.2% -10.8 pts
2,944 8.9% -11.6 pts
Profit After Tax % of Sales
(377) -4.0%
530 4.5%
-8.5 pts
(1,154)* -4.6%
1,866 5.6% -10.2 pts
* Includes one time deferred tax impact of 233 MINR and exceptional item for asset impairment amounting to ₹ 401 MINR ( net of Tax)
…Net Borrowings of ₹ 3,340 MINR as at Dec 31, 2019 vs ₹ 4,280 MINR as at Sep 30, 2019
GETDIL _ Investor Call _ Feb’2020
Confidential. Not to be copied, distributed, or reproduced without prior approval.
February 11, 2020
9
Suneel Mishra Investor Relations Officer Email id - suneel.mishra@ge.com http://www.ge.com/in/ge-td-india-limited