GE T&D India Limited L31 I02DL1957PLC193993 T-5 & T-6. - - PDF document

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GE T&D India Limited L31 I02DL1957PLC193993 T-5 & T-6. - - PDF document

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 February 11, 2020 The


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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

February 11, 2020

The Secretary BSE Limited Phiroze Jeejeebhoy Towers DalaI Street

The Manager Listing Department National Stock Exchange

  • f India Ltd

Exchange Plaza, Bandra Kurla Complex, Bandra (East) MUMBAI 400 001 MUMBAI 400 051 Code No. 522275 Symbol: GET&D Dear Sir, Sub: Analyst Presentation Further to our letter dated February 6, 2020, enclosed please find a copy of the analyst presentation in respect

  • f 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

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  • Confidential. Not to be copied, distributed, or reproduced without prior approval.

GE T&D India Limited

Financial results for the quarter ended Dec 2019

February 11, 2020

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SLIDE 3
  • Confidential. Not to be copied, distributed, or reproduced without prior approval.

Disclaimer

GETDIL _ Investor Call _ Feb’2020

February 11, 2020 2

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.

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SLIDE 4
  • Confidential. Not to be copied, distributed, or reproduced without prior approval.

Key Events of the Quarter

February 11, 2020 3

GETDIL _ Investor Call _ Feb’2020

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
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SLIDE 5
  • Confidential. Not to be copied, distributed, or reproduced without prior approval.

Key Execution during 3rd Quarter of 2019-20

February 11, 2020 4

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

GETDIL _ Investor Call _ Feb’2020

….Commissioned many important projects during the Quarter

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  • Confidential. Not to be copied, distributed, or reproduced without prior approval.

Success in Orders driven by Automation, TBCB & Renewable Space

Key Orders

February 11, 2020 5

Customer Project

Sterlite TBCB - Extension of 765 kV GIS at Vadodara and 765 kV AIS at Lakadia in Gujarat JKPDD SCADA/ADMS project for the distribution operations in J&K PGCIL TBCB - 765 kV GIS bays at Phagi in Jaipur for Solar Parks energy evacuation Adani 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).

GETDIL _ Investor Call _ Feb’2020

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  • Confidential. Not to be copied, distributed, or reproduced without prior approval.

…Power market size stable. Order backlog at 59.6 BINR ( > 1.5 Years Revenue)

Order Intake

February 11, 2020 6

Orders Q3 19-20

₹ 14,414 ₹ 12,538

3M Dec 18-19 3M Dec 19-20

(₹ in millions)

Orders 9M 19-20

₹ 6,119 ₹ 4,177 ₹ 7,234 ₹ 6,902 ₹ 14,415 ₹ 12,538 ₹ 27,768 ₹ 23,617

9M' 18-19 9M' 19-20

Q3,18-19 Q2,18-19 Q1,18-19 Q3,19-20 Q2,19-20 Q1,19-20

GETDIL _ Investor Call _ Feb’2020

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  • Confidential. Not to be copied, distributed, or reproduced without prior approval.

Sales Execution

February 11, 2020 7

Sales Q3 19-20

(₹ in millions)

Sales 9M 19-20

₹ 30,874 ₹ 24,326 ₹ 2,361 ₹ 619 ₹ 33,235 ₹ 24,945

9M' 18-19 9M' 19-20

CKL-1/2

GETDIL _ Investor Call _ Feb’2020

₹ 10,840 ₹ 9,212 ₹ 838 ₹ 186 ₹ 11,678 ₹ 9,398

Q3' 18-19 Q3' 19-20

CKL-1/2

… Sales revenue impacted by HVDC ramp down, Customer project delays, Lower order intake

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  • Confidential. Not to be copied, distributed, or reproduced without prior approval.

₹ 880

  • ₹ 498

Profit before tax

February 11, 2020 8

(₹ in millions)

PBT Q3 19-20 PBT 9M 19-20

₹ 2,944

  • ₹ 674
  • ₹ 536

GETDIL _ Investor Call _ Feb’2020

Q3’ 18-19 Q3’ 19-20 9M’ 18-19 9M’ 19-20 Exceptional Items ( Asset Impairment)

  • ₹ 1,210

… Q3 & 9M Profit impacted by Lower Volumes, Projects Mix & delays, ILFS Provision

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  • Confidential. Not to be copied, distributed, or reproduced without prior approval.

…Net Borrowings of ₹ 3,340 MINR as at Dec 31, 2019 vs ₹ 4,280 MINR as at Sep 30, 2019

Key Data : 3rd quarter & 9 Months ended 31st Dec’2019

February 11, 2020 9

(₹ in millions)

Sales Revenue 9,398 11,678

  • 20%

24,945 33,235

  • 25%

Operating Profit (311) 1,021 (150) 3,382 % of Sales

  • 3.3%

8.7%

  • 12.0 pts
  • 0.6%

10.2% -10.8 pts Profit Before Tax (498) 880 (674) 2,944 % of Sales

  • 5.3%

7.5%

  • 12.8 pts
  • 2.7%

8.9% -11.6 pts

(Before exceptional items )

Profit After Tax (377) 530 (1,154)* 1,866 % of Sales

  • 4.0%

4.5%

  • 8.5 pts
  • 4.6%

5.6% -10.2 pts Q3 2019-20 Q3 2018-19 Change 9M 2019-20 9M 2018-19 Change

GETDIL _ Investor Call _ Feb’2020

* Includes one time deferred tax impact of 233 MINR and exceptional item for asset impairment amounting to ₹ 401 MINR ( net of Tax)

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Suneel Mishra Investor Relations Officer Email id - suneel.mishra@ge.com http://www.ge.com/in/ge-td-india-limited